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Old 10-26-2020, 12:40 PM   #61
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Whoa that's high for 1m
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Originally Posted by Time2 View Post
At the moment I don't have UI/UIM coverage, I'm adding it tomorrow.
I recently applied for an Umbrella policy. It came back with stipulations regarding uninsured motorist. I could get those covered, but the additional premium was
91% of the cost of the original Umbrella.
So I'm going to get the UI/UIM coverage on my auto and see what else I can do to lower the cost of the umbrella. As it stands they want $559 for $1M of coverage.
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Old 10-26-2020, 01:46 PM   #62
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Whoa that's high for 1m
I thought so to, I have a friend and his cost was $274 a year. I'll be checking to see why it so high. I have vacant lot and 1/2 of my deceased mothers home that my sister lives in and, 3 cars. I don't know if any of those bump the rate.
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Old 10-26-2020, 02:25 PM   #63
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I was talking with a friend this morning comparing notes as we are both shopping for car insurance. He said that his agent asked him whether they were on Medicare and he responded yes, and the agent said that many of his customers on Medicare were dropping UI coverage. It sort of makes sense, though there would be some risks that one might want coverage for. I found this: https://www.weshopinsurance.com/news...gh%20insurance).



I'm thinking of at least reducing my coverage from $500k to $100k rather than eliminating it entirely. What do y'all think? Have any of you dropped UI because you have Medicare?

UI is not only for someone with no insurance but for under-insured as well.

Consider an accident with your friends in your car and somebody hit you and had only 10K UI, but your passengers needed medical help. Your friends will have to go after you and your insurance. If you had good UI that's what it's for.

In my opinion, UI is a must and has to me a maximum (which is your policy limit) and cost almost nothing !
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Old 10-26-2020, 02:52 PM   #64
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OP that decision of lower or not having it, is what you feel comfortable with. Asking if XX# of $ is sufficient is your choice.

I haven't made a claim on home owners insurance in about 40 years. Should I drop it, should try to save 100$ a year to have less coverage Decisions decision!!!! LOL
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Old 10-26-2020, 03:18 PM   #65
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Cost for 6 months per vehicle:

Uninsured Motorists Bodily Injury $150,000/300,000 = $11.80
Underinsured Motorists Bodily Injury $150,000/300,000 = $11.10

Seems reasonable. I'm keeping it.
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Old 10-26-2020, 03:39 PM   #66
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It seems to me that this discussion might best be had with a (trusted?) insurance agent. Knowing exactly what/when is covered, how much, scenario discussion, local 'conditions' (% not covered/under-covered), how much for how much (my guess: difference in cost/coverage goes down as coverage goes up (IOW 500K may not be dramatically more expensive than 100K).

I'm really spitballing here, but as I think about this for my personal situation, a 15 minute sit-down with agent seems in order - well, in the age of Covid, maybe on the phone. Once again, those who know this subject inside and out, probably need not consider my suggestion. YMMV
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Old 10-26-2020, 06:36 PM   #67
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I was on a professional rescue squad for 23 years responding to auto accidents and was also involved in the auto insurance industry. I spent more than a few days in court as a witness testifying in auto accident law suits.


Please everyone trust me on this, there are much better ways to save money in your annual budget than to reduce your Uninsured and Underinsured Motorist coverages(there is a difference, but you need them both) I'm talking about Bodily Injury, not Property Damage.


I could write a few paragraphs on this, but to keep it short. Trust me, don't do it. And, I hope you never need to use it.
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Old 10-26-2020, 08:12 PM   #68
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Quote:
Originally Posted by Splash View Post
Cost for 6 months per vehicle:

Uninsured Motorists Bodily Injury $150,000/300,000 = $11.80
Underinsured Motorists Bodily Injury $150,000/300,000 = $11.10

Seems reasonable. I'm keeping it.
If I could get it at those rates I would keep it too and would have never started this thread.
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Old 10-26-2020, 10:27 PM   #69
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My Camry was totaled by an under insured driver. My insurance paid me and went after the other guy. Without the coverage I would have had problems collecting.
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Old 10-27-2020, 08:40 AM   #70
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Also worth pointing out is that if you have No-Fault (PIP), that coverage will pay for some of the same economic damages (medical, some non-medical) as UM/UIMBI, the same way Collision will pay for damages the way UM/UIMPD will. If you don't have Collision, I would suggest buying UMPD if that coverage is available in your state, s you have some cheap Physical Damage coverage on your car. (In some states, UMPD is only available to non-Collision buyers.)
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Old 10-27-2020, 05:53 PM   #71
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Some states require minimum coverage, like NY. Other states like NH don’t require car insurance at all- except liability.

I would take out the minimum at the very least just in case.

And-,What does being on Medicare have to do with it?
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Old 10-27-2020, 08:03 PM   #72
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Search ER for "umbrella" Not too long ago we crowdsourced what we pay for comparison
Quote:
Originally Posted by Time2 View Post
I thought so to, I have a friend and his cost was $274 a year. I'll be checking to see why it so high. I have vacant lot and 1/2 of my deceased mothers home that my sister lives in and, 3 cars. I don't know if any of those bump the rate.
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Old 10-28-2020, 07:52 AM   #73
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Quote:
Originally Posted by Splash View Post
Cost for 6 months per vehicle:

Uninsured Motorists Bodily Injury $150,000/300,000 = $11.80
Underinsured Motorists Bodily Injury $150,000/300,000 = $11.10

Seems reasonable. I'm keeping it.
That is crazy cheap! About $2 per month?

Or $11.80 per month for six months equal to about $70?
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Old 10-28-2020, 11:01 AM   #74
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[MOD EDIT]

you think that old honda with the paper tags , spewing out the smoke as it goes past you at 90 mph has insurance when he runs into you

Last year I had a friend that took an older woman in the neighborhood out for a ride on his scooter.. shortly after they left they stopped at a stop light waiting for it to turn green when they got rear ended by another woman in a car texting, she claims she didn't even see them sitting there at the red light... the scooter was a total, the woman ended up with a broken hip that has now taken over a year to heal... she most likely will never be the same... so only one person had insurance, my friend with the scooter... he is very lucky the rider could have sued him and the woman texting... I'd say in this case insurance was worth the money spent...

This year my insurance company gave out discounts due to the virus... so I'm paying less for the exact coverage anyway...

why be a penny pincher tight wad...
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Old 10-28-2020, 02:11 PM   #75
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I just ask Amica about an Umbrella policy.
Minimum on auto 250K/500k. Covers my 3 cars, one vacant lot and home.
The policy does not cover UIM.
Price $318, I can add UIM.
With that the total cost is $876.
If you have an Amica Umbrella policy and think you have UIM, you better make sure.
It is not standard.
PS, My son read this and said I should use asked as the 3rd word in my 1st sentence, what do you say?
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Old 10-28-2020, 04:12 PM   #76
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Past tense - asked.
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Old 10-28-2020, 04:27 PM   #77
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Past tense - asked.
Darn kids!
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Old 10-28-2020, 04:31 PM   #78
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could have used inquired to Amica
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Old 10-28-2020, 06:29 PM   #79
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Quote:
Originally Posted by Time2 View Post
I just ask Amica about an Umbrella policy.
Minimum on auto 250K/500k. Covers my 3 cars, one vacant lot and home.
The policy does not cover UIM.
Price $318, I can add UIM.
With that the total cost is $876.
If you have an Amica Umbrella policy and think you have UIM, you better make sure.
It is not standard.
PS, My son read this and said I should use asked as the 3rd word in my 1st sentence, what do you say?
It is probably not covered because traditional Umbrella insurance is "liability" insurance. It insures you against claims made against you. Not for your property or personal losses. I guess Amica will add a rider for the extra 560 ISH.
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Old 10-28-2020, 10:58 PM   #80
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Quote:
Originally Posted by Time2 View Post
I just ask Amica about an Umbrella policy.
Minimum on auto 250K/500k. Covers my 3 cars, one vacant lot and home.
The policy does not cover UIM.
Price $318, I can add UIM.
With that the total cost is $876.
If you have an Amica Umbrella policy and think you have UIM, you better make sure.
It is not standard.
PS, My son read this and said I should use asked as the 3rd word in my 1st sentence, what do you say?
Wouldn't it be cheaper to raise the UIM on the auto insurance for all 3 cars ?
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