Medical Payments coverage tends to be relatively inexpensive to buy, and
pays,
without any deductible, for every dime of accident-related medical
treatment that
you and your passengers incur, individually, up to your hopefully-at-least
$50,000 policy limits; $100K is not too much to obtain, either.
Your private "health" insurance, with its deductibles and co-pays, can
kick in after
your Automobile Med Pay coverage is expended.
The only way that you can collect for your Lost wages and Pain/Suffering
("General
Damages") is via your Uninsured Motorist coverage (if the Bad Guy is
non-insured) or,
if he is covered, by his Automobile Liability coverage, and ,
maybe...... from your own
Under-Insured-Motorist coverage.
I say 'maybe', because if your U-I-M coverage happens to equal the
policy limits of
the Bad Guy's liability coverage, your company says (in effect: )
Screw-You; we don't
gotta pay you anything more than what 'he' has (policy-limits) available
to you; your
U-I-M coverage does not "stack" onto the Bad Guy's liability coverage,
no matter how
bad he may be, or how bad you may be hurt.
Your U-I-M coverage is only available when its policy limits EXCEEDS
'his' Liability
coverage policy-limits, and is only provided as a lump-sum, at the
conclusion of your injury
claim, after you have negotiated/arbitrated/litigated your
settlement/damages, and, you can
only collect up-to the DIFFERENCE between your U-I-M policy limits and
his Liability policy
limits!
So, if you both got $100K available; your company pays you zilch, on
your "Under-Insured-
Motorists" coverage.
If you have $150K in U-I-M, and he's got $100K in Liability coverage,
you have $50K
available to you on your U-I-M coverage-claim.
Another not-so-little rip-off, to 'you' is your "Umbrella" liability
coverage, which does stack
itself onto your Liability policy-limits, so, if you severely injure
someone, he might collect
$1-Mil-or-more from you (depending upon your applicable policy
limits)...which is "nice",
for him/them, but, if YOU get severely injured by someone, your own
Umbrella policy will
NOT pay you a dime, for the 'same' injuries that you might, otherwise,
have inflicted upon
someone else!
My own insurance agent told me, today, that he has a Specialty Carrier
which does sell a
liability Umbrella policy that can be applied toward "First Party (you)"
claims.
I'm going to be looking into buying that policy, to replace my
"Umbrella" (screw-me) policy
that my auto-carrier is selling to me.
Also, my agent said that SOME carriers may provide First Party coverage
on their Umbrella
Policies (Snake Farm doesn't), if the Insured might have all his
cars/Homeowners coverage
provided by that company.
One good coverage is Un-insured-Motorists-Property-Damage (UM/PD), which
will waive
your Collision deductible if your car is damaged by an IDENTIFIABLE
non-insured vehicle.
Mysterious hit-and-runs are not covered under this policy; you gotta be
able to confirm
(via several different ways) that the Bad Guy was not actually insured.
Neil Vedder
John Zastrow wrote:
Thanks for the info Ray, glad to see you’re doing ok. I’ll check my
policy.
Another coverage to be aware of is on your Collector Car Policy. That
is the Uninsured/Underinsured Motorist part.
.
Recently a Plymouth Owner’s club member related that he was in an
accident with his ’56 Ford truck and his Uninsured/Underinsured
coverage was only $20,000 and that went quickly and advised for
everybody to check their collector car policy. I checked mine and it
states “minimum amount required” and no $ amount and I don’t know what
that is…..probably $20,000. On my daily driver the amount is $500,000.
He also said, upon checking, for a small amount per year, you can
raise that part of your coverage to a realistic figure.
* From: * Forward Look Mopar Discussion List
[mailto:L-FORWARDLOOK@xxxxxxxxxxxxx] *On Behalf Of *Ray Jones
*Sent:* Monday, July 12, 2010 11:06 AM
*To:* L-FORWARDLOOK@xxxxxxxxxxxxx
*Subject:* [FWDLK] car insurance
This is an overlooked, but very important part of your insurance
policy. The Medical payment cap. Most of us have a $5,000. per person
cap on the medical payment under the comprehensive part of our policys.
Having had a major accendent just weeks ago, trust me it's not enough.
As soon as you finish this, call your agent and raise that part to
$10,000. or even $25,000. It cost little more, maybe $30. a year or so
(for 10K), but will make a hugh difference if you have even a small
accident.
I ran into the back of my wife @ about 50mph. Someone suddenly stopped
in front of her to make a left turn, She stopped, i had looked aside
and looked back to see the back of her van comming at a very fast
rate. I totalled both vans, and ended up with 8 broken ribs. She has
many bruises, but is ok.
The 2 ambulance rides totalled $3,000. for a 8 mile and 110 mile ride.
The trama hospital bill was $3,000. plus the other hospital and all
the docs and suchlike bills still to come. Don't know yet how much it
will all come to, but I can see $10K a'comin'.
I'm doing fine, thanks you very much, but wanted ty warn all y'all
about this.
Shelter Insurance was great, has paid everything nearly instantly, I
had a check for the 2005 T&C she was driving in 3 business days and
have bought a 2006 T&C found on eBay. i bought back my wrecked 2005
and it's on eBay Item number:120594296603, if'n ya wanna see.
OK, now call, medicare will pick-up most of what the insurance misses
for me, but many of you don't have that available.
Ray
*************************************************************
To unsubscribe or set your subscription options, please go to
http://lists.psu.edu/cgi-bin/wa?SUBED1=l-forwardlook&A=1
<http://lists.psu.edu/cgi-bin/wa?SUBED1=l-forwardlook&A=1>
*************************************************************
To unsubscribe or set your subscription options, please go to
http://lists.psu.edu/cgi-bin/wa?SUBED1=l-forwardlook&A=1
<http://lists.psu.edu/cgi-bin/wa?SUBED1=l-forwardlook&A=1>
*************************************************************
To unsubscribe or set your subscription options, please go to
http://lists.psu.edu/cgi-bin/wa?SUBED1=l-forwardlook&A=1
|
|
Back to the Home of the Forward Look Network