Insurance question? Should I add more?

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kgc1911

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Is there anything I should add to this or anything I should raise up on this and why???

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I carry the uninsured/under insured because so many driver either don't have coverage or not enough. You could get run over by one of those Amish carts. :rofl:
 
Most people shop for price when it comes to insurance.............most people are also idiots :)

My policy is not in front of me but I'm probably at $150,000/300,000 and go for what I can afford as far as other options.

I went for increased medical coverage and uninsured / under insured motorist.

We live in a lawsuit happy time and 15,000 covers about the first 3 minutes in the hospital or the first 2 minutes in a court room. :)

Much rather pay more for my insurance than lose my house and all my assets
because I went the cheap route.
My coverage on my truck is much more extensive.

If someone is thinking to themselves right now.....but I dont own a house or have many assets. Guess what you never will, if you have a judgement against you for hundreds of thousands !

That's my view on insurance.
 
I pay about $65 per month but I get the highest possible coverage I can including uninsured/underinsured, medical (me and them), theft, towing, etc. Insurance in Houston is generally expensive anyway.

The way I see it I have a 50% chance of getting hit by someone unisured so I need to make sure I am covered there. The other 50% is a chance of me hitting a mercedes. ;) ...and I want to make sure I am covered there.

One bad accident could literally ruin someone financially. Especially if at fault.
 
I carry 100/300/50 full coverage, $250 decidable, pay $212 a year.

I think you need to at least double the amounts you have, you are too exposed.
 
A few things I've learned in the nearly 50 years I've been buying insurance is that any insurance company will try to figure out a way NOT to pay a claim if they can. You only need medical coveage once, if it's good enough. In my case, I've got great medical coverage through my health insurance so I don't even carry any medical on my bike or car insurance and I've never used medical coverage on a vehicle related incident in my life anyway. If you don't have medical insurance outside of your vehicle insurance then make sure you're covered. My corporate attorney told me once, the more liability insurance you have, the more you'll get sued for. When we were gauging how much we should carry, he told me from an atorney's standpoint, never sue for more than you have any chance you'll get. If you have $1,000,000 coverage, and have a nasty accident YOU are responsible for, that's what you'll be sued for. I'll bet the majority of drivers/riders fill the insurance company's pockets out of fear they get sued because that's what the insurance companies use as their marketing strategy. I won't be fooled again!
 
In my state you have to have insurance so they told me I could reject unin/underin but your telling me I should add that? i'll raise the liability to others....Anything else on there I should add/raise?

I don't know everything that's why I'm here asking your advice...It's much appreciated... =O)
 
Lonerider59 said:
A few things I've learned in the nearly 50 years I've been buying insurance is that any insurance company will try to figure out a way NOT to pay a claim if they can. You only need medical coveage once, if it's good enough. In my case, I've got great medical coverage through my health insurance so I don't even carry any medical on my bike or car insurance and I've never used medical coverage on a vehicle related incident in my life anyway. If you don't have medical insurance outside of your vehicle insurance then make sure you're covered. My corporate attorney told me once, the more liability insurance you have, the more you'll get sued for. When we were gauging how much we should carry, he told me from an atorney's standpoint, never sue for more than you have any chance you'll get. If you have $1,000,000 coverage, and have a nasty accident YOU are responsible for, that's what you'll be sued for. I'll bet the majority of drivers/riders fill the insurance company's pockets out of fear they get sued because that's what the insurance companies use as their marketing strategy. I won't be fooled again!
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It is not just a matter of whether you have health insurance or not. Your deductible and your responsibility after deductibles are met on your health insurance plan can have a lot to do with this decision you make.

I work at a law firm but our insurance plan is crap. My annual deductible is $1,750 and my obligation after that is met is 20%. Any major accident where I am injured and hospitlized, even with health insurance, could ruin me financially. A hospital stay could end up in the $150,000 range quickly. That could be very low depending on injuries. I cannot pay 20% out of pocket for something like that. Imagine if you had to have several surguries and a year of physical therapy. You could easily end up in the half to 1 million dollar range.

I am more than happy to pay my $65 a month. I can afford that easily.
 
Just in addition be careful about counting on your regular health insurance. Check it, because it is not uncommon for many coverages to not cover things like motorcycle accidents.


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Unfortunately I am having to deal with this right now as my girlfriend was in a real bad car accident last week. The accident was not her fault someone else hit her head on (as witnessed by an off duty police officer). She just spent a week in the hospital, needs 2 surgeries on her foot etc. Just think how much this is going to cost, not to forget physical therapy, ambulance ride, lost wages for a few months, etc. the list is endless. Just think that if you were the other driver in this incident how would you ever pay for this with $15,000 / $30,000 bodily injury? You would loose everything you own, and things that you will now never own.

I realize motorcycles are usually on the loosing end of collisions but you never know. And as someone stated a few extra dollars a month is worth protecting your ASSets.

I just upped my auto policy to 300,000/300,000 liability for an extra $24 a year...
 
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I as have a $1,000,000 umbrella policy, $144 a year, and short and long term disability, I get those through work.

I know insurance seems like a rip off but when you need it it is so important.

The number one cause of bankruptcy is due to health costs do the a lack of insurance.

I think it is a small price to pay.

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Hellgate said:
I as have a $1,000,000 umbrella policy, $144 a year, and short and long term disability, I get those through work.

I know insurance seems like a rip off but when you need it it is so important.

The number one cause of bankruptcy is due to health costs do the a lack of insurance.

I think it is a small price to pay.

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if u pay 214$ a year its not a rip off i would like to pay that in nj instead 794$, that is rip off,about health costs and lack of insurance, health isnt about health enymore its big money making buisness,why people dont have insurrance -couse they cant aford it
 
Lonerider59 said:
A few things I've learned in the nearly 50 years I've been buying insurance is that any insurance company will try to figure out a way NOT to pay a claim if they can. You only need medical coveage once, if it's good enough. In my case, I've got great medical coverage through my health insurance so I don't even carry any medical on my bike or car insurance and I've never used medical coverage on a vehicle related incident in my life anyway. If you don't have medical insurance outside of your vehicle insurance then make sure you're covered. My corporate attorney told me once, the more liability insurance you have, the more you'll get sued for. When we were gauging how much we should carry, he told me from an atorney's standpoint, never sue for more than you have any chance you'll get. If you have $1,000,000 coverage, and have a nasty accident YOU are responsible for, that's what you'll be sued for. I'll bet the majority of drivers/riders fill the insurance company's pockets out of fear they get sued because that's what the insurance companies use as their marketing strategy. I won't be fooled again!
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smart..... 25 years ago there was no law suits from accidents i mean they havent discover yet this money making buisness, this days fender bender fills up packets of lawyers, doctors,theraphysts,clients etc...ccccapitalism
 
You are way underinsured on the Liability front. That looks like a Progressive quote and that is a lot of money for a 2001 FZ for what you are getting. I've got 250/500/100 liability on my 2009 model for $72 per year. That is the minimum I'd carry, and on top of that I have an umbrella policy to cover my total net worth. If you cause injury lawyers are going to come after your total assets (house, savings, retirement funds), that is just the way it is. Unless you have no assets you need to protect yourself with an umbrella policy, it is cheap insurance.

You can save some money on the Compreshensive, do you really need a $100 deductible for a 10 year old bike? Up it to at least $500.
 
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