[dewilson58]

Originally Posted by JudyMonin

If you want your car AND your “body” covered you must carry uninsured bodily injury AND uninsured property damage.

What does your Collision Coverage cover on your car???

[retiredguy123]

Originally Posted by nn0wheremann

In most accidents, since so many drivers here are uninsured or under-insured, UM coverage is your only recourse. Medicare will cover your medical costs well, but damage to or loss of your car, funeral costs, etc are what you would expect your UM to cover. By default UM equals your liability coverage, as I recall. You can elect a lower amount, and save considerable amount of premium.

You are correct that, typically, UM coverage would equal your liability coverage, which, in my case would be $1 million. According to my State Farm agent, this would cost me an additional $480 per year, and it would only cover a bodily injury claim after my health insurance was exhausted, which would never happen. My health insurance policy pays 100 percent of medical costs after a catastrophic limit of $6,000 with no upper limit. Also, the agent said that a State Farm UM policy would not cover a claim for "pain and suffering", only bodily injury. So, I asked her what would be the point of buying it? She agreed that it would not make sense for me to add UM coverage to my policy.

[retiredguy123]

Originally Posted by dewilson58

What does your Collision Coverage cover on your car???

As I understand it, collision insurance will repair or replace your vehicle after you pay the deductible, regardless of who was at fault. So, I guess the UM insurance may cover the collision deductible.

[dewilson58]

Originally Posted by retiredguy123

As I understand it, collision insurance will repair or replace your vehicle after you pay the deductible, regardless of who was at fault. So, I guess the UM insurance may cover the collision deductible.

asking Judy................she/he is saying i must have um if i want my car covered

[retiredguy123]

Originally Posted by dewilson58

asking Judy................she/he is saying i must have um if i want my car covered

I understand. In my experience, many people pay money for UM insurance, but they have no clue about what it does and doesn't cover, and what other insurance they have that already covers the same thing.

[Gatorfan1]

Originally Posted by Lovey2

While trying to get a quote today we were were told by an insurance agent that we did not need to have Uninsured Motorist coverage. He said that Medicare would cover our medical. Does anyone know if this is true? I did search online and it said yes, that Medicare would cover us for medical, just not for other things UNI would cover...loss of wages, mental anguish, the car itself, etc. We're curious if anyone has dropped their Uninsured Motorist coverages. I never really gave it any thought, just always had it. Thanks...

Do you have long term care coverage? As for rehab after an accident. Medicare pays for so many days and then you have to pay out of pocket.

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.

[Gatorfan1]

Originally Posted by dewilson58

What does your Collision Coverage cover on your car???

Bodily Injury only in Florida. No Property Damage under UM. Every State is different.

[Gatorfan1]

Originally Posted by retiredguy123

You are correct that, typically, UM coverage would equal your liability coverage, which, in my case would be $1 million. According to my State Farm agent, this would cost me an additional $480 per year, and it would only cover a bodily injury claim after my health insurance was exhausted, which would never happen. My health insurance policy pays 100 percent of medical costs after a catastrophic limit of $6,000 with no upper limit. Also, the agent said that a State Farm UM policy would not cover a claim for "pain and suffering", only bodily injury. So, I asked her what would be the point of buying it? She agreed that it would not make sense for me to add UM coverage to my policy.

Incorrect. Health insurance is the last coverage to response after all other coverage is exhausted. Also, you can buy um limits to equal your Bodily Injury or lower limits.

[retiredguy123]

Originally Posted by Gatorfan1

Incorrect. Health insurance is the last coverage to response after all other coverage is exhausted. Also, you can buy um limits to equal your Bodily Injury or lower limits.

I spoke with two "agents" at State Farm, who didn't seem to know much of anything about UM insurance. They just sell the product and get a commission. But, whether health insurance is paid first or last, it is still redundant with UM. I don't want to deal with my auto insurance company for health care. And, for me, buying $10K worth of any insurance coverage is not worth paying for.

[bimmertl]

Originally Posted by retiredguy123

Damage or loss of your vehicle is covered by collision and/or comprehensive insurance, so UM coverage would be redundant in that respect.

UM coverage doesn't cover damage to vehicle.

[kkingston57]

Originally Posted by retiredguy123

You are correct that, typically, UM coverage would equal your liability coverage, which, in my case would be $1 million. According to my State Farm agent, this would cost me an additional $480 per year, and it would only cover a bodily injury claim after my health insurance was exhausted, which would never happen. My health insurance policy pays 100 percent of medical costs after a catastrophic limit of $6,000 with no upper limit. Also, the agent said that a State Farm UM policy would not cover a claim for "pain and suffering", only bodily injury. So, I asked her what would be the point of buying it? She agreed that it would not make sense for me to add UM coverage to my policy.

You might want to talk to another agent. I was an insurance adjuster. UM pays for any claim that you might have against the responsible(negligent) party including medical bills, disabilities, pain and suffering funeral costs (if you or anyone else dies and is defined as an insured under the policy) etc. that exceed their liability limits or if the responsible party does not have liability insurance. UM basically takes the place of the other persons Bodily Injury coverage. Regarding your catastrophic insurance. That is an issue that your attorney would need to handle if you have a bad injury.

In this string there are several good poignant remarks made by lawyers and what appears to be a former judge

[kkingston57]

Originally Posted by retiredguy123

I spoke with two "agents" at State Farm, who didn't seem to know much of anything about UM insurance. They just sell the product and get a commission. But, whether health insurance is paid first or last, it is still redundant with UM. I don't want to deal with my auto insurance company for health care. And, for me, buying $10K worth of any insurance coverage is not worth paying for.

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.

[dewilson58]

Originally Posted by Gatorfan1

Bodily Injury only in Florida. No Property Damage under UM. Every State is different.

I think you are confused as to my statement and the reason for my statement.

[retiredguy123]

Originally Posted by kkingston57

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.

Yes, they were both agents who sell insurance and I asked them a lot of questions. I already have $1 Million in liability coverage on my regular auto insurance policy with State Farm. To match that amount with UM coverage, it would cost me an additional $480 per year. That is the maximum amount available through State Farm. I could buy an optional lower amount of UM coverage. Both agents said that it would not be worth buying the UM coverage because I already have excellent health insurance. Most approved UM claims are for medical expenses under "bodily injury" coverage. I don't like the idea of most of my premium cost going to pay for bodily injury protection because most of an approved claim would pay for medical costs for which I am already covered. I can understand that UM insurance for a young person with no health insurance would make more sense, or for someone who wants to protect against "pain and suffering" for a long term disability. The agents both agreed that, to file a pain and suffering claim, I would need to hire a lawyer who would rake off about 40 percent of any claim settlement. That would reduce a potential settlement to a maximum of $600K and probably less. The agents agreed that State Farm is most likely not going to pay a large settlement without being sued. Another consideration is that UM insurance also covers passengers in my vehicle, but, frankly, I am not interested in paying for insurance to cover passengers for an accident that, by the UM definition, is caused by an uninsured driver. So, I don't see any reason to pay an additional $480 per year for coverage that I will never use. I know that some people don't agree.

[Gatorfan1]

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.