[kingofbeer]

Originally Posted by Aces4

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.

So true

[kingofbeer]

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.

That does not make any sense at all. Why should you pay any of your medical expenses or rehab when the uninsured motorist caused the damages ? If the other driver is at fault, they would be held responsible.

Who Pays Medical Bills After A Florida Car Accident? | The Florida Law Group

[retiredguy123]

Originally Posted by Aces4

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.

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.

[retiredguy123]

Originally Posted by kingofbeer

That does not make any sense at all. Why should you pay any of your medical expenses or rehab when the uninsured motorist caused the damages ? If the other driver is at fault, they would be held responsible.

Who Pays Medical Bills After A Florida Car Accident? | The Florida Law Group

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

[kkingston57]

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.

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

[kkingston57]

Originally Posted by kingofbeer

That does not make any sense at all. Why should you pay any of your medical expenses or rehab when the uninsured motorist caused the damages ? If the other driver is at fault, they would be held responsible.

Who Pays Medical Bills After A Florida Car Accident? | The Florida Law Group

If a person does not have any insurance of low insurance limits, they probably have 0 assets and you will not be able to recover anything from them. In addition, Florida has laws which protect them from paying claims. Main reason why OJ Simpson moved to Florda after he lost his civil case

[retiredguy123]

Originally Posted by kkingston57

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

Even $500K in personal liability is hard to find. I have $1 million in personal liability with State Farm, but I had to shop around to get it. Geico would only offer me $250K in liability coverage. These insurance companies want to make a quick profit on low coverage policies.

[pkfavreau2]

Originally Posted by Michael G.

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

This coverage also covers “underinsured “ for when the cost is greater than written.

[Marine1974]

Originally Posted by Michael G.

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

Don’t think Medicare or Medicare advantage plans cover all treatments. Big question is what if you have 3 passengers in your car and they are injured by an uninsured motorists . Who pays for their treatment of permanent disability and can’t work ?
I would definitely pay for uninsured motorists insurance or inform your passengers you don’t have uninsured motorists insurance before driving.
In addition if you do receive a settlement for an accident involving a uninsured motorist, Medicare , Medicare advantage and or the veterans administration will put a lien on your settlement and go after you for full price for any treatment you receive from them .

[Marine1974]

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.

Keep in mind your health insurance that paid for your treatment will put a lien on your settlement to get reimbursed usually at full price. Plus what about passengers in your car your driving if they are injured, killed or permanently disabled?

[forebubba]

Originally Posted by 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?

One solution maybe....no insurance no registration. You lapse on you insurance the insurance company notifies the state and police agencies. If you are caught driving uninsured you are fined and the car is impounded until it is insured.
I believe this is what is done in other states. Maybe our governor can propose this.

[retiredguy123]

Originally Posted by Marine1974

Keep in mind your health insurance that paid for your treatment will put a lien on your settlement to get reimbursed usually at full price. Plus what about passengers in your car your driving if they are injured, killed or permanently disabled?

Not sure I understand. If you don't have any UM coverage, there will be no UM settlement. So, your health insurance will pay for your medical treatment. To me, that is an advantage of not having UM insurance. Who wants to deal with their auto insurance company for medical treatment if you already have health insurance?

You are correct that passengers are covered if you have UM insurance. But, I expect my passengers to have health insurance like I do.

[retiredguy123]

Originally Posted by retiredguy123

Not sure I understand. If you don't have any UM coverage, there will be no UM settlement. So, your health insurance will pay for your medical treatment. To me, that is an advantage of not having UM insurance. Who wants to deal with their auto insurance company for medical treatment if you already have health insurance?

You are correct that passengers are covered if you have UM insurance. But, I expect my passengers to have health insurance like I do.

Uninsured motorist insurance is optional in Florida. But, regarding the mandatory insurance, I don't know why Florida doesn't require insurance companies to issue a sticker for the vehicle to prove that the car is insured, like the state does with the registration sticker.

[Marine1974]

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.

That might be fine for you but what if you have three passengers in your car your driving?

[retiredguy123]

Originally Posted by Marine1974

That might be fine for you but what if you have three passengers in your car your driving?

I don't feel responsible for insuring passengers against an uninsured motorist. Although, I agree that it may be a good idea to notify passengers that the vehicle doesn't have UM coverage. Note that I do have plenty of personal liability coverage to cover an accident where I am at fault.