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Both a homeowners policy and an auto policy cover "bodily injury" which means physical injury including pain and suffering. The umbrella policy adds a completely new coverage, that for "personal injury" Personal injury is defined in the umbrella to include such things as false arrest, defamation, libel, slander, false imprisonment, and trespass. Some of these may cause a claimant to suffer "emotional distress". Such damages will be covered. The "personal injury" coverage is a liability coverage. Liability insurance only pays for damages incurred by a "third party", i.e. the neighbor on whose property the insured trespassed or the contractor the insured slandered. Liability insurance, whether for bodily injuries or personal injuries, will never pay anything to the insured. It only pays the third party claimant for the harm done to him by the insured. In addition to the coverage for "personal injury" in an umbrella policy, the umbrella will increase the limits of the underlying policies be they homeowners, auto, or both, for property damage and bodily injury. This means there will be more money to pay to a third party claimant and more to protect the assets of the insured. Again, nothing in a liability policy be it underlying or umbrella will be paid to the insured If the insured in the underlying auto policy had UM/UIM coverage, he can increase the limits of that coverage in the umbrella policy. There is no additional coverage for UM/UIM in the umbrella policy. It simply increases the amount of money the insured can collect for injuries done to him by the uninsured or underinsured driver. The damages for which the insured can collect include the pain and suffering he incurred as a result of his bodily injuries caused by the uninsured/underinsured driver. In summary, the coverage for "personal injury" in an umbrella policy will never result in payment to the insured. The increase in the limits for bodily injury and property damage in an umbrella policy will only be paid to a third party claimant and only increase the protection of the insured's assets. The increase in the UM/UIM limits in the umbrella will only be paid to the insured I hope my lengthy responses to this post, along with those of others, will convince you that UM/UIM coverage is not a waste of money and will not benefit only the insurance carriers. It is for your protection and the protection of those who use your automobile. Given that more than 20% of all drivers in Florida have no auto insurance, compared to 14% nationwide, UM/UIM insurance is all the more important in Florida. Studies have confirmed that drivers who are uninsured or have minimum limits of insurance are far more likely to be involved in auto accidents when compared to drivers with insurance. |
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If you get in a bad accident an an uninsured driver is at fault and you do not have that coverage you will get nothing for your injuries other than the Medical coverage which is about $5,000. There are more and more uninsured drivers here is Florida than ever before.
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:popcorn::popcorn: |
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UM Florida
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True Story: Someone I knew did not want Um. Said he did not need it. I stayed on him till he finally bought the minimum coverage of 10,000 per person up to 20,000 per accident. 3 months later he was involved in an accident that was not his fault. The other party had no Bodily Injury coverage (not required in Florida until you have an accident and injure someone, then you have to buy for 3 years) My friend was injured badly. In rehab for six months. Missed a year of work. Was he covered for all the medical bills, rehab, loss wages. Nope. Only has 10,000 coverage under um. His fellow workers donated their sick time to him so he did get some paychecks for a while. Is UM worth buying. Yes..and you hope it is the worst investment you ever make. In Florida, only bodily injury, no property damage. That is covered under collision. Every state is different. |
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In this string there are several good poignant remarks made by lawyers and what appears to be a former judge |
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Were they an actual agent? Agents make more money if they sell you more insurance. Only way you can buy UMBI coverage in the amount of $10K is if you only have liability coverage for 10/20. If you buy more coverage(not very expensive) you can then buy more UMBI coverage. |
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UM Florida
Um in Florida does not cover physical damage to your vehicle. That would be covered under your collision, subject to your deductible.
UM covers only if other party is at fault. Covers for bodily injury to you and passengers in your vehicle. It also covers rehab and nursing home. Your health insurance (major medical, Group Medical, Medicare and Medicaid.) Remember that most health insurance has a maximum amount of days they will pay for rehab and nursing home. Other party may not have bodily injury (not required in Florida) or they may not have enough coverage to pay for injuries caused due to their fault. There are two type's coverages of UM in Florida. Stacked and non-stacked. Stacked has coverage that many are not aware of. Under Florida law stacked uninsured motorist will extend and cover you on a motorcycle and a motor home. So if you have stacked on your auto, you do not need to buy on motorcycle um or motor home um policies because you already have the coverage under your stacked um on your auto. If you have non stacked, the coverage does not extend. If you insure more than one auto insured and you have stacked, your coverage amount would be more. Example, stacked um, one auto insured and you have 100/000 per person up to 300,00 per accident, that is maximum pay out. If you have two autos insured with 100/300 stacked limits, the actual coverage is 200,000 per person up to 600,000 per accident. Minimum coverage offered in Florida is 10,000 per person up to 20,000 per accident. You can buy lower um limits and higher bodily injury limits. Anytime a licensed agent or a customer service representative tells you that you don’t need certain coverage, make sure you understand what that means. |
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.
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Some people like Russian Roulette, others.. not so much. You've reiterated your stance many times even though other's have spoken about actual situations. They described people dealing with the affects of UM decisions, which have either saved their butts or ravaged their lives, depending on their choice. Don't blame all insurance agents, quite often customers want to cheap out and save their nickels believing they will never need the coverage. I, personally, am not impressed with your agent(s) after your tale regarding her (them). Agents wanting to beat a competing bid will sometimes cut coverages to close the deal. I'm not saying that's what happened to you, however, it happens more often than it should. But that's your choice. We've worked long and hard for our retirement funds, we're not willing to dole them out in that manner of being under insured. |
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And just so it's clear, when someone is neglgent and causes and injury to you, you are entitled to recover damages which are normaly medical bills, last wages and pain and suffering. Most of us are not working so last wages is not an issue. For the most part we have medical coverage. However if, you're painfully injured, and have to spend weeks or months in rehab or just mending, you're entitled to be paid for that. Often the award is in the tens or hundereds of thousands. (Ask Dan Newland) If the other driver is uninsured, you would recover little if anyting from him since most don't have much to recover from. With UM/UIN your own insurance company steps in and provides the other driver with insurance you can collect from. All of the post here from individuals who really know insurance and personal injury recommend it. I do too. |
UM in Florida does not cover Property Damage to your auto.
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