[nancyre]

The coverage covers everyone in your car. Your personal medical plan covers just you.

[NachoMama]

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?

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.

[NachoMama]

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.

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..

[NachoMama]

Originally Posted by retiredguy123

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

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.

[gorillarick]

Saw a contractor's truck doing business in TV with out-of-state and expired plates.
Smart guy.
No need to buy insurance as required to register or renew your Florida license plate.
So, we can assume he has no car (truck) insurance.

I checked his business on MyFloridaLicense.com - pretty fast and easy.
Has no business license in Florida.

Why are you employing criminals ?
And you wonder why your car insurance is so high.

[retiredguy123]

Originally Posted by NachoMama

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.

Your vehicle is covered by your collision insurance, not UM insurance.

[retiredguy123]

Originally Posted by NachoMama

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.

I totally agree.

[Aces4]

Originally Posted by retiredguy123

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.

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...

[retiredguy123]

Originally Posted by NachoMama

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..

According to my agent, their company would not pay for expenses beyond normal medical treatment unless I hired an attorney and sued them. My main point is that UM insurance is primarily designed to cover normal medical treatment that is already covered by my health insurance policy. Most UM claims will pay for the medical bills for people who have inadequate health insurance. I don't have inadequate health insurance.

[retiredguy123]

Originally Posted by Aces4

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...

Not true. When I spend money, I want to know what I am paying for. I think that people should research what they are buying before they decide to buy it. There is plenty of evidence on this thread and other threads that many people are buying UM insurance, but they do not understand what they are actually paying for. I don't care if people buy UM insurance or not, but I think they should make an informed decision based on a full understanding of what it covers and what it doesn't. After all, that was the OP's original question.

[retiredguy123]

Originally Posted by NachoMama

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..

Even if you get a UM settlement for $210K, you probably won't be able to keep it. As another poster pointed out, Medicare or your health insurance company will attach a lien on any UM payouts to reimburse them for your medical treatment, which is also covered by UM insurance.

And, yes, a claim adjuster will authorize a payment for documented medical bills for someone who has inadequate health insurance. But, a claim for "pain and suffering" would not be authorized by a claim adjuster.

[Marine1974]

Originally Posted by retiredguy123

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

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?

[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.

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 .

[retiredguy123]

Originally Posted by Marine1974

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?

They ask so they can attach a lien on any UM payouts, and, sometimes, they are required to actually get approval to treat you if you have UM coverage. But, if you don't have UM coverage, your health insurance is required to pay for your treatment. Health insurance coverage has nothing to do with who was at fault. Why should they pay to treat a person who is 100 pounds overweight, eats at McDonald's every day, and smokes cigarettes?

[retiredguy123]

Originally Posted by Marine1974

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 .

$59 per year is very low.