Poll Uninsured and under insured motorist coverage amounts

[summer2007]

I have had second thoughts about having uninsured and under insured motorist coverage for a long time. I know the big benefit of having it is that if you get injured and need long term care this insurance can really come in handy.

I opted for 500k of coverage I'm not sure if that is overkill or not so I thought this would be a good poll to see what others thought was a good amount to carry...if any.

Jim

 

[Sarah in SC]

I have the same as you. I am someone who is loathe to be overinsured, but this type of coverage is pretty cheap for what you get. Especially since the minimum in our state is 15-30-15 coverage. And while I do drive a cheap car, that wouldn't come close to covering any sort of injury from an underinsured driver.

 

[freebird5825]

$250K each person
$500K each accident

 

[ziggy29]

$300K per person up to $500K per accident.

 

[Nords]

I have had second thoughts about having uninsured and under insured motorist coverage for a long time. I know the big benefit of having it is that if you get injured and need long term care this insurance can really come in handy.

We carry $1M UM/UIM just for the case of a driver putting our kid into a lifetime care or lifetime disability situation. She's insured by our military Tricare policy now but that ends when she's done with school.

When she's off our insurance policy (and on her own health insurance) then we might get rid of the UM/UIM. We haven't done the research yet. One factor is that it's <$62/year/car, so not much incentive to shave away at it. But I have the (possibly mistaken) impression that we grownups would be covered just as well by Tricare, although I don't know those limits.

 

[summer2007]

Thanks everyone.

It looks like the amount I have is fairly common. But a lot of people did not go heavy on this type of insurance also.

One of the things that made me consider not having a lot of this insurance is that it is only ONE way that a family member or passenger or myself could be injured needing long term care.

For instance I know a guy that was about 50 years old and he fell down his steps...he was not intoxicated or anything like that he just fainted I guess. Anyway he ended up in a coma for a while and it took him a long time to recover. What I'm saying I thought it might give a false sense of security because getting in an accident is one of many ways to need long term care....but this type of insurance only covers the ones caused by an auto accident...all the rest are uncovered.

But on the flip side it's all to often that when sitting at a red light that I pause for a few seconds after the light turns green only to watch someone fly through the intersection. I see reckless driving way too often while out driving.



Jim