Talk of The Villages Florida - View Single Post - Car insurance rates just had their biggest annual jump in 47 years.
Thread: Car insurance rates just had their biggest annual jump in 47 years.
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Old 09-15-2023, 02:54 PM
kkingston57 kkingston57 is offline
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Quote:
Originally Posted by retiredguy123 View Post
I have medical insurance that has a $6,000 catastrophic limit. Anything above that is covered 100 percent. Why would I need a redundant policy for injuries? I am not going to hire a personal injury lawyer to sue my insurance company for "pain and suffering" when the lawyer would take 40 percent of the settlement after paying expenses. What limit of UM insurance can you buy that will prevent a financial devastation, and how much would it cost? I would guess that most people with UM insurance don't have enough coverage to even make a difference in their financial situation. For example, $150K in coverage would be woefully inadequate, and the insurance company probably won't sell you much more than that. In my opinion, it is just not worth buying.
UM does not only pay for medical bills and pain and suffering. IF you were still working UM will pay for your lost wages. If retired would not help you.