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Auto Insurance - Uninsured Motorist Coverage (LA)
Posted on 12/12/24 at 1:07 pm
Posted on 12/12/24 at 1:07 pm
Currently shopping for new auto insurance.
Regarding uninsured motorist coverage (on Geico website) there are 2 options to choose from:
1. Economic Only Uninsured/Underinsured Motorist Bodily Injury coverage
2. Uninsured/Underinsured Motorist Bodily Injury coverage
Can someone explain the difference and which one is better? Google provides explanations that do not translate to the names of these 2 options.
TIA
Regarding uninsured motorist coverage (on Geico website) there are 2 options to choose from:
1. Economic Only Uninsured/Underinsured Motorist Bodily Injury coverage
2. Uninsured/Underinsured Motorist Bodily Injury coverage
Can someone explain the difference and which one is better? Google provides explanations that do not translate to the names of these 2 options.
TIA
4
Posted on 12/12/24 at 1:25 pm to 23parker
Economic only UM coverage will pay for anything related to your bodily injuries as a result of an uninsured or under insured motorist at fault in your accident that you can prove with a bill. It's economic only coverage - meaning reimbursement of doctor bills, medical facility charges, that sort of thing.
The other, regular uninsured motorist coverage will pay for all those things PLUS pain and suffering. That's why this one costs more - it's because more is covered under this option.
Advantage of option 1: it's cheaper and is a way to ensure that you're reimbursed to whatever limit you choose and can really come in handy if you have a high deductible on your health insurance policy.
Advantage of option 2: If you like the idea of being able to have coverage for pain and suffering and you don't mind paying the higher cost, this is a good option in the event that an uninsured or underinsured motorist hits you and is at fault and you're injured.
The other, regular uninsured motorist coverage will pay for all those things PLUS pain and suffering. That's why this one costs more - it's because more is covered under this option.
Advantage of option 1: it's cheaper and is a way to ensure that you're reimbursed to whatever limit you choose and can really come in handy if you have a high deductible on your health insurance policy.
Advantage of option 2: If you like the idea of being able to have coverage for pain and suffering and you don't mind paying the higher cost, this is a good option in the event that an uninsured or underinsured motorist hits you and is at fault and you're injured.
This post was edited on 12/12/24 at 1:28 pm
Posted on 12/12/24 at 1:55 pm to 23parker
If in Louisiana, buy option 2. Think of it as catastrophic injury insurance. There are WAY too many uninsured and underinsured drivers in LA to risk not having decent UM/UIM insurance.
Posted on 12/12/24 at 2:18 pm to vistajay
quote:
There are WAY too many uninsured and underinsured drivers in LA to risk not having decent UM/UIM insurance.
THIS
Posted on 12/12/24 at 4:11 pm to Ziggy
It’s one of the most valuable insurance products one can buy for your protection.
This post was edited on 12/12/24 at 5:33 pm
Posted on 12/12/24 at 5:57 pm to 23parker
Scenario: Uninsured driver hits you and screws up your back. Doctor treats it, but you have lasting pain and can no longer golf, hunt, pick up the grandkids, etc.
Option 1 pays the doctor bill.
Option 2 pays the doctor bill and compensates you (up to the policy limit you purchase) for your pain and suffering and loss of enjoyment of life.
Option 1 pays the doctor bill.
Option 2 pays the doctor bill and compensates you (up to the policy limit you purchase) for your pain and suffering and loss of enjoyment of life.
Posted on 12/12/24 at 6:23 pm to 23parker
Don't get the economic only. That is often times close to useless. It does not pay for pain and suffering and other types of general damages. The two main things it pays for are medical bills (which many people have other insurance to pay for anyway} and loss of income.
Get regular UM. Don't put yourself at the mercy of what kind of insurance the other driver has.
I know this from many years of experience in the business of dealing with these types of things.
Get regular UM. Don't put yourself at the mercy of what kind of insurance the other driver has.
I know this from many years of experience in the business of dealing with these types of things.
Posted on 12/12/24 at 11:03 pm to geauxpurple
So option 2 is the way to go?
It doesn’t cost that much more, so looking to get the best option if I have to pay one way or the other.
It doesn’t cost that much more, so looking to get the best option if I have to pay one way or the other.
Posted on 12/12/24 at 11:53 pm to 23parker
Option 2.
No question about it.
No question about it.
Posted on 12/13/24 at 10:21 am to geauxpurple
If you have economic only I assume it'll specifically say economic only on the policy documents correct? My policy says Uninsured Motor Vehicle Coverage and has bodily injury limits for each person and accident.
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