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Started By
Message
re: Uninsured driver hit me (have questions)
Posted on 8/11/14 at 8:28 pm to Artie Rome
Posted on 8/11/14 at 8:28 pm to Artie Rome
quote:Stop worrying, fin will be fine, trust me.
Life insurance policies in any substantial numbers are very expensive. So your decision to have a huge life policy and no UM tells me you are rejecting UM out of some sort of statement. It's not an economic decision for you.
1
Posted on 8/11/14 at 8:31 pm to yellowfin
quote:
Mrs fin will become very wealthy quick if I die tomorrow
Phone number?
On a side note. Not all disability insurance are the same. Thank God I carried it. Problem is that after X amount of time, it dropped my pay to 66% and then it dropped more after SSD kicked in. I will collect till I hit 70, but one never knows that.
Posted on 8/11/14 at 8:32 pm to brbengalgal
How many tony stewart remarks so far?
Posted on 8/11/14 at 8:37 pm to Artie Rome
quote:
some sort of statement. It's not an economic decision for you.
Statement is:
I don't need it
Disability is expensive too but I need it
Posted on 8/11/14 at 8:38 pm to yellowfin
That's cool. I don't sell insurance. Just trying to answer your question.
Posted on 8/11/14 at 8:41 pm to yellowfin
quote:Do me a favor. Call your insurance agent tomorrow. Ask him/her how much collision is and ask how much UM is. Then tell me if it's worth the extra cost.
yellowfin
Posted on 8/11/14 at 8:46 pm to Neauxla
It was $260 every 6 months last time I checked. I don't know what collision is but I have to carry it so it doesn't matter
Posted on 8/11/14 at 8:46 pm to Neauxla
Fin: How much for UM up to my 500/1 million policy?
Agent: $13 a month.
Fin: Don't need it. Off to spend $200 on drinks. Later.
Agent: $13 a month.
Fin: Don't need it. Off to spend $200 on drinks. Later.
Posted on 8/11/14 at 8:48 pm to yellowfin
quote:
don't know what collision is but I have to carry it so it doesn't matter
Damn son. I thought you paid cash for your vehicles. Shay a let down.
Posted on 8/11/14 at 8:49 pm to Artie Rome
1.9%
I'd be dumb to pay cash
I'd be dumb to pay cash
Posted on 8/11/14 at 10:01 pm to yellowfin
First, you would need 2 disability policies. A short term policy and a long term policy. In most every case, these polices only cover 50% to possibly 70% of your income.
I can't imagine 2 disability policies could be cheaper than UM, but I'm not an agent.
I can't imagine 2 disability policies could be cheaper than UM, but I'm not an agent.
This post was edited on 8/11/14 at 10:02 pm
Posted on 8/12/14 at 6:18 am to Monk
quote:
I can't imagine 2 disability policies could be cheaper than UM, but I'm not an agent.
But disability covers me all the time where UM just covers accidents caused by uninsured drivers. It should be more expensive.
quote:
First, you would need 2 disability policies. A short term policy and a long term policy. In most every case, these polices only cover 50% to possibly 70% of your income.
Correct
Posted on 8/12/14 at 8:12 am to yellowfin
If you get in an accident with an UM, your insurance company will cover the accident. If you get in an accident with an UM and you have UM coverage your insurance company will cover the accident.
Increasing your medical and collision coverage isn't expensive, keeping a low deductible on these is what drives the cost up.
People feel all warm and fuzzy about UM coverage, fact is you still have to pay your deductibles and use your insurance/employment medical until resolution if any is made by the uninsured. You can sue till your red in the face, suing someboday with nothing usually results in nothing.
Increasing your medical and collision coverage isn't expensive, keeping a low deductible on these is what drives the cost up.
People feel all warm and fuzzy about UM coverage, fact is you still have to pay your deductibles and use your insurance/employment medical until resolution if any is made by the uninsured. You can sue till your red in the face, suing someboday with nothing usually results in nothing.
Posted on 8/12/14 at 8:15 am to swanny297
You're acting like UM doesn't pay...that's not correct.
Posted on 8/12/14 at 8:35 am to iknowmorethanyou
quote:
You're acting like UM doesn't pay...that's not correct.
I agree it pays sometimes - my wife was in an accident 6mnths ago with an UM - luckily she wasn't hurt and didn't need any medical assistance but it did $8500.00 damage to her vehicle. The damage was fixed under our collision, our UM didn't pay in this accident becuase she wasn't injured, and no other public property was damaged.
ETA - if she had of been hurt, my medical insurance maximums are much higher than any UM motorist coverage, and I pay enough for that a month.
This post was edited on 8/12/14 at 8:38 am
Posted on 8/12/14 at 11:14 am to swanny297
Yes, it's always advisable to use your health ins for medical care. The medical carrier will very likely subrogate against the UM/UMBI for reimbursement once claim is paid.
Posted on 8/12/14 at 11:19 am to iknowmorethanyou
quote:actually...
Yes, it's always advisable to use your health ins for medical care. The medical carrier will very likely subrogate against the UM/UMBI for reimbursement once claim is paid.
Posted on 8/12/14 at 11:22 am to Neauxla
Not sure what you're taking issue with. The health ins company isn't responsible when UM/UMBI is in place. Sure, you can commit fraud by dishonestly completing an accident/injury questionnaire.
Swanny's point was UM/UMBI is a drawn out process. That point is certainly correct. For claims payments in the interim, use your health ins...that's why it exists.
Swanny's point was UM/UMBI is a drawn out process. That point is certainly correct. For claims payments in the interim, use your health ins...that's why it exists.
Posted on 8/12/14 at 11:24 am to iknowmorethanyou
No, I just recently learned that BC/BS will NOT subrogate against someone's UM settlement if there is no liability coverage. Not sure if this is true w/ all health insurance providers or just a bc/bs policy.
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