Quote:
Originally Posted by retiredguy123
True. But, note that you may need a separate umbrella policy to increase the liability limits. That will increase your cost. I found that many auto insurance companies will only sell you liability coverage of up to $250k. I have $1 million in liability with State Farm, but Geico maxed out at $250k. Also, the $100k per person coverage for uninsured motorists insurance is almost totally worthless if you ever sue the company for "pain and suffering". Someone like Dan Newlin would probably not even take the case for that low amount. I don't bother buying any UM coverage because it is not worth the cost.
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For starters you don't have to sue the insurance company for UM benefits. Just as you don't have to sue them for collision benefits or any other first party coverage benefits.
So let's assume an 80 year old person has two broken legs and other assorted injuries caused by and uninsured motorist. Value clearly worth 100K or more. Call big Dan Newlin. He calls insurance carrier and gets 100k in about 1 hour and keeps $33,000. In such a case any individual can get the 100K with out Dan's "hard work"!
There is no amount too low for a plaintiff attorney to pass up! And everybody needs UM coverage.