Quote:
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.
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Last line is somewhat true. If you had bad injuries or died, the insurance company should voluntarily pay you the limit if it is 300K. If your claim is worth <300k the attorney will use his/her expertise to get you the value of the claim and protect you in the settlement. Insurance companies can match the limit. If you have 500K in liability coverage you can buy UM up to 500K