| Posted By |
Message |
|
|
Car insurance experts come in
What is a good amount of coverage to have for uninsured/underinsured? For those who have not heard these terms. uninsured motorist coverage helps when you are involved in an accident and the other party has no insurance. Underinsured coverage helps you when the person does not have enough insurance to cover your damages. Someone else, feel free to explain better than I did, please! Most attorneys that I know do not feel that the minimum policies are enough. I know that it is a matter of determining my own comfort level, but I an curious to hear what people here think. How much coverage would you recommend and why? Is $100K/$300K enough?
|
Posted 10/6/09 5:08 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
Phyl
R.I.P. Sweet Mia ♥
Member since 5/06 28918 total posts
Name:
The Mystical Azzhorse! ™
|
Re: Car insurance experts come in
I'm not an "expert" but I always have 100K/300K and I've been in alot of situations that I used my insurance for!
|
| Posted 10/6/09 6:21 PM |
| |
|
Shorty
.
Member since 5/05 30390 total posts
Name:
really
|
Re: Car insurance experts come in
as an agent, i always recommend matching your liability. (if you carry 100/300, SUM should be the same.) SUM can't exceed your liability 
|
| Posted 10/6/09 9:11 PM |
| |
|
|
|
Re: Car insurance experts come in
Posted by Shorty
as an agent, i always recommend matching your liability. (if you carry 100/300, SUM should be the same.) SUM can't exceed your liability
Thanks for answering! Is it as crucial to match if my liability remains at 250/500? I have always kept a fairly large liability policy but no, my SUM coverage has not matched it.
It took me a few minutes to figure out what SUM is but I am guessing from my paperwork and your post that it is Supplementary Uninsured/Underinsured Motorist coverage.
edited for spelling (LIF spellcheck seems to not be working right now).
Message edited 10/6/2009 9:53:58 PM.
|
| Posted 10/6/09 9:51 PM |
| |
|
MommaG
Yay Spring!
Member since 5/05 5133 total posts
Name:
Gloria
|
Re: Car insurance experts come in
You have to remember that SUM coverage protects YOU - if someone else doesn't have insurance or doesn't have enough insurance and you are involved in an accident with them for which they are at fault, you go to your SUM coverage for injury payment (not to pay your medical bills, but if you broke a bone or something that breaches the threshhold, which is the legal term, you would get a monetary settlement for that and it would come from your SUM coverage). To me, it makes sense to protect yourself by having good SUM coverage.
|
| Posted 10/6/09 10:43 PM |
| |
|
Shorty
.
Member since 5/05 30390 total posts
Name:
really
|
Re: Car insurance experts come in
Posted by MommaG
You have to remember that SUM coverage protects YOU - if someone else doesn't have insurance or doesn't have enough insurance and you are involved in an accident with them for which they are at fault, you go to your SUM coverage for injury payment (not to pay your medical bills, but if you broke a bone or something that breaches the threshhold, which is the legal term, you would get a monetary settlement for that and it would come from your SUM coverage). To me, it makes sense to protect yourself by having good SUM coverage.
agreed. I've always matched my liability.
|
| Posted 10/7/09 11:08 AM |
| |
|
