Originally Posted by Michael G. (Post 2327486)

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

Originally Posted by retiredguy123 (Post 2327745)

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.

Originally Posted by retiredguy123 (Post 2327770)

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

Originally Posted by NachoMama (Post 2328155)

Your heath insurance will not pay for the damage to your vehicle or property.

If your $50,000 vehicle is totaled by an uninsured motorist, there is less than a 1% chance you’ll be able to recover ANY money from him directly. Even if you get a judgment and garnish his wages (If he has wages) you won’t get the whole $50,000 back in your lifetime.

Yes, you need uninsured motorist coverage.

Originally Posted by NachoMama (Post 2328157)

No sensible lawyer will take a lawsuit against a person with no assets on a contingency basis. You’ll be paying the lawyers by the hour.

So, no, you don’t need uninsured motorist insurance to sue the driver or the other car. But you also won’t receive enough from him in your lifetime to cover the attorneys fees, much less your losses.

Originally Posted by retiredguy123 (Post 2327930)

I'll bet you a dollar that less than 10 percent of drivers with UM insurance have a million dollars or more in coverage. Most insurance companies will not even sell you more than $300K. And, even if you have $300K, the lawyer will take 30 to 40 percent of it. Also, I believe that the primary purpose for UM insurance is to pay for the medical bills of people who don't have adequate health insurance, so the state doesn't get stuck with the indigent bill.

My purpose is to get people to understand what they are buying with their auto insurance because most people are paying for UM coverage, but they cannot explain what it covers. If you don't believe me, ask a few people.

Originally Posted by NachoMama (Post 2328156)

If I had to sue the insurance company (I would be suing the insurance company, not myself) I would much rather get 70% of $300,000 - which would be a net $210,000 - than to have chosen ahead of time to get ZERO.

My auto agent can tell dozens of stories about people who were in accidents, and the claim adjusters paid them a fair amount from the uninsured motorist coverage without the need to involve lawyers..

Originally Posted by Aces4 (Post 2328240)

I think your real purpose is to get other people to stick their necks out and take on additional risk like you have done. After all, a State Farm insurance agent gave you this great advice. I wonder if that agent would be on the hook for costs you may be incurring due to lack of UM insurance...

Originally Posted by NachoMama (Post 2328156)

If I had to sue the insurance company (I would be suing the insurance company, not myself) I would much rather get 70% of $300,000 - which would be a net $210,000 - than to have chosen ahead of time to get ZERO.

My auto agent can tell dozens of stories about people who were in accidents, and the claim adjusters paid them a fair amount from the uninsured motorist coverage without the need to involve lawyers..

Originally Posted by retiredguy123 (Post 2327931)

I have excellent health insurance to pay for my medical bills and rehab. Why should I pay for redundant coverage?

Originally Posted by retiredguy123 (Post 2327649)

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.

Originally Posted by Marine1974 (Post 2328328)

The healthcare facilities ask is this injury the result of an automobile accident or work related injury. There is a reason they ask this . Why would your health insurer pay for your injury when another party is at fault?

Originally Posted by Marine1974 (Post 2328348)

My premium is $59 yearly , $100,000/$200,000 , to protect me and my passengers
from a UM or UIM . Again why do healthcare facilities ask is this a result of an automobile accident or work related injury. There is a legal reason why . You wouldn’t want to lie . The healthcare facility wants to insure they will be paid .