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re: What is the correct auto coverage for the average family?
Posted on 4/3/25 at 8:46 pm to GREENHEAD22
Posted on 4/3/25 at 8:46 pm to GREENHEAD22
What’s your deductible - raise to at least $1000. You don’t want to make a claim for less than that anyway - bc they’ll frick you with higher rates for making a claim.
3
Posted on 4/3/25 at 8:48 pm to DiamondDog
quote:
Medical paid by health insurance This isn't true.
Most health insurance you have will cover medical bills and treatment for injuries. It happens all day, every day. You may have to pay them back out of any settlement if there is one.
This post was edited on 4/3/25 at 8:49 pm
Posted on 4/3/25 at 8:48 pm to LazloHollyfeld
That’s a great suggestion actually.
Posted on 4/3/25 at 8:49 pm to yellowfin
quote:
Why?
I have collision, health, short and long term disability…..why do I need uninsured motorist?
Deductibles, co-pays, STD caps, and Long Term, own job/ any job contractual language. I’m sure you read all those, right? You’re a white collar baw with transferable skills. You maybe as well light the LTD premium on fire because you’re never collecting it. You can transfer to other jobs in the economy.
Not to mention the pain and suffering component for getting your neck or your back fused together if shite hits the fan.
I carry $2.25M in liability with reciprocal UM. Mainly for the UM. I also have those other coverages you have.
This post was edited on 4/3/25 at 8:53 pm
Posted on 4/3/25 at 8:51 pm to yellowfin
quote:what if you have a passenger in your vehicle?
I have collision, health, short and long term disability…..why do I need uninsured motorist?
Posted on 4/3/25 at 8:52 pm to LazloHollyfeld
Also check frequently that they are applying all discounts. Found out there is a low mileage (less than 10k year) discount - knocked about $500 off
Posted on 4/3/25 at 8:52 pm to boosiebadazz
I think of UM coverage like a lottery ticket. The day Babytac rams into the back of my vehicle, it’ll be like hitting the jackpot.
Posted on 4/3/25 at 8:55 pm to Riverside
Doing this every day for a living, I see UM as a no-brainer. I’ve had to have many conversations about limited insurance coverage and excess judgments being dischargeable in bankruptcy aka not worth the time or energy to get one.
Posted on 4/3/25 at 8:56 pm to Will Cover
quote:
I have 300/500/300 with UMI. I also have a $1M umbrella policy. My auto deductible is $1K.
Same except my umbrella is 2M. We use RLI for umbrella, the difference between 1 & 2 is minor but jump from 2 to 3 million is insane.
Posted on 4/3/25 at 9:02 pm to yellowfin
quote:
What if I told you that your collision covers your vehicle if an uninsured motorist hits you? Medical paid by health insurance
What about when it’s your kid at fault with that family of uninsured messicans?
Posted on 4/3/25 at 9:11 pm to lsuconnman
quote:
What about when it’s your kid at fault with that family of uninsured messicans?
Liability coverage??
Posted on 4/3/25 at 9:26 pm to GREENHEAD22
You actually don't have enough liability coverage, assuming you own a house and have a good-paying job etc. You, your wife, or one of your kids plows into someone on accident, with today's out-of-control medical costs they could easily rack up tens of thousands in just medicals, and the claim could easily be worth well over 100k . Let alone if you hit a family and they are all seriously injured.
You are putting at risk everything you own and potentially having your wages garnered for years upon years .
You'd probably have to file bankruptcy.
Sucks for sure, but them are the facts Jack.
You are putting at risk everything you own and potentially having your wages garnered for years upon years .
You'd probably have to file bankruptcy.
Sucks for sure, but them are the facts Jack.
Posted on 4/3/25 at 9:28 pm to TigerGman
quote:
potentially having your wages garnered for years upon years .
My PI friends tell me this is only pursued with high earning individuals. Boosie could probably give more insight.
Posted on 4/3/25 at 9:29 pm to LazloHollyfeld
My deductible is $500, I guess I will raise that.
I need to shop but it is a pain because it is never apples to apples in regards to coverage. Anyone have a company to go with to shop it around and find me a better deal?
I need to shop but it is a pain because it is never apples to apples in regards to coverage. Anyone have a company to go with to shop it around and find me a better deal?
Posted on 4/3/25 at 9:30 pm to GREENHEAD22
I feel like Farm Bureau is killing me.
Posted on 4/3/25 at 9:32 pm to GREENHEAD22
Check out Progessive. Cut my insurance in half from Travelers.
Posted on 4/3/25 at 9:32 pm to GREENHEAD22
quote:
My deductible is $500, I guess I will raise that.
You don’t have to file a $1000 claim just cause you have a $500 deductible. The problem is if another vehicle is involved you have to file a claim to save your arse from a liability perspective when their neck starts hurting after they signed the contract with morris bart.
It’s very easy to ask for quotes with every line item detailed. I’d love a customer that came at me for a quote w precise limits requested and deductibles.
Posted on 4/3/25 at 9:35 pm to DiamondDog
quote:
My PI friends tell me this is only pursued with high earning individuals. Boosie could probably give more insight.
There are ways to pin the excess on the insurer. You have to get the excess and then have the insured assign their cause of action against the insurer for a bad faith exposure to an excess. It’s super fact-dependent, and the insurer can guard against it in certain ways.
I’ve never taken an excess. I have made drunk drivers pay from their own money beyond the insurance limits.
Posted on 4/3/25 at 9:37 pm to yellowfin
Not good advice.
Posted on 4/3/25 at 9:46 pm to Weekend Warrior79
quote:
He’s partially correct. Health insurance will cover injuries caused by a 3rd party as long as you lie about the cause of the injuries
Its damn near impossible to collect medical debt these days, can't even report it on your credit report.
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