[Michael G.]

Are you over paying for uninsured motorist coverage on your auto insurance when you Medical Advantage Insurance plan covers you in a auto accident?

[dewilson58]

Here's 50 posts to chew on:

Uninsured motorist coverage

[Michael G.]

Originally Posted by dewilson58

Here's 50 posts to chew on:

Uninsured motorist coverage

Thanks
I do remember reading this some time back.
Trouble is, now I'm really confused.

[LLJorgs]

I don’t think so. Medicare or Advantage plans still have things they will not pay for. Some example you might have copays/coinsurance for ER or hospital stays, max out of pocket deductible, ambulance or medivac if needed, possible dental etc. After going through the plan thoroughly, decided worth the extra coverage especially given the high number of underinsured or not insured on the roads.

[retiredguy123]

I have read and I fully understand what uninsured motorist insurance covers and what it does not cover. It is mostly, but not completely, redundant with my health insurance. In my situation, I would never file a claim for this insurance, so, to me, it would be a waste of money. For the expenses that it covers, I can afford to self insure. So, I choose to not pay for it and save a few hundred dollars. I would suggest that everyone research and understand what you are paying for because most people I have discussed this with do not understand the coverage. Good luck.

[Aces4]

Originally Posted by retiredguy123

I have read and I fully understand what uninsured motorist insurance covers and what it does not cover. It is mostly, but not completely, redundant with my health insurance. In my situation, I would never file a claim for this insurance, so, to me, it would be a waste of money. For the expenses that it covers, I can afford to self insure. So, I choose to not pay for it and save a few hundred dollars. I would suggest that everyone research and understand what you are paying for because most people I have discussed this with do not understand the coverage. Good luck.

OP, this is one person's take on UM. Please read the other thread and decide after thoroughly discussing this coverage with your agent. It all depends on how much exposure you can bear financially.

[n8xwb]

I agree (and do not carry uninsured/underinsured motorist coverage). I do believe, however, that if you check, you will find that if you were seriously injured and you carried said coverage you can sue for damages other than purely medical reimbursement AND since the other motorist has no coverage, your own insurance will pay -- hence you would be in fact suing yourself (successfully) for additional monetary compensation.

[retiredguy123]

Originally Posted by n8xwb

I agree (and do not carry uninsured/underinsured motorist coverage). I do believe, however, that if you check, you will find that if you were seriously injured and you carried said coverage you can sue for damages other than purely medical reimbursement AND since the other motorist has no coverage, your own insurance will pay -- hence you would be in fact suing yourself (successfully) for additional monetary compensation.

I agree and I do understand the UM coverage. But, I am not interested in paying a premium so I can sue myself. Also, when you sue yourself, the maximum payout is limited to the the coverage limit that you pay for. Most insurance companies will only allow UM coverage up to $300K, which is not enough to hire a good lawyer, who would take 40 percent of the settlement anyway.

[kingofbeer]

Originally Posted by retiredguy123

I agree and I do understand the UM coverage. But, I am not interested in paying a premium so I can sue myself. Also, when you sue yourself, the maximum payout is limited to the the coverage limit that you pay for. Most insurance companies will only allow UM coverage up to $300K, which is not enough to hire a good lawyer, who would take 40 percent of the settlement anyway.

This covers both uninsured and underinsured motorists. I always laugh when I hear someone is self-insured. I will always have uninsured motorist coverage.

[kingofbeer]

Originally Posted by retiredguy123

I agree and I do understand the UM coverage. But, I am not interested in paying a premium so I can sue myself. Also, when you sue yourself, the maximum payout is limited to the the coverage limit that you pay for. Most insurance companies will only allow UM coverage up to $300K, which is not enough to hire a good lawyer, who would take 40 percent of the settlement anyway.

The lawyers will sue the other motorist and will try to extract every penny from them or their company or anyone else who may be responsible.

[retiredguy123]

Originally Posted by kingofbeer

The lawyers will sue the other motorist and will try to extract every penny from them or their company or anyone else who may be responsible.

You don't need uninsured motorist insurance to sue the other motorist.

[gatorbill1]

Florida has a lot of uninsured motorists

[kingofbeer]

Originally Posted by retiredguy123

You don't need uninsured motorist insurance to sue the other motorist.

Do what you want to do. The average person does not understand, why they should have this coverage. I suspect they see the large premium cost and say I don't need that.

Uninsured Motorist Coverage in Florida: The Truth About Uninsured Motorist Coverage

[retiredguy123]

Originally Posted by kingofbeer

Do what you want to do. The average person does not understand, why they should have this coverage. I suspect they see the large premium cost and say I don't need that.

Uninsured Motorist Coverage in Florida: The Truth About Uninsured Motorist Coverage

I suspect that most of the approved UM claims are for medical treatment for people under 65 who do not have adequate health insurance. So, if you have excellent health insurance, the UM premium would mostly be used to subsidize people who don't. In my opinion, that is not a good deal.

My insurance agent admitted to me that, in order to be paid for "pain and suffering" or a long term illiness, I would need to hire a lawyer and sue the insurance company. Also, not a good deal because the lawyer would take 30 to 40 percent of any settlement as a fee. That is why I self insure.

[Aces4]

Originally Posted by retiredguy123

I suspect that most of the approved UM claims are for medical treatment for people under 65 who do not have adequate health insurance. So, if you have excellent health insurance, the UM premium would mostly be used to subsidize people who don't. In my opinion, that is not a good deal.

My insurance agent admitted to me that, in order to be paid for "pain and suffering" or a long term illiness, I would need to hire a lawyer and sue the insurance company. Also, not a good deal because the lawyer would take 30 to 40 percent of any settlement as a fee. That is why I self insure.

Yes, it's so worthless that 20 states or more insist insurance companies must provide this coverages to insureds. After all law makers are just trying to enrich insurance agencies that probable don't want to be on the hook for it anyway.

Self insure, that's a joke unless you have an extra million to cover your butt. Your not covering a $3,000. root canal with self insurance in a car accident.