Automobile Insurance

[mikefocke]

I worry about the limits you guys are citing.

I have a friend who showed me his $1.2 million hospital bill and his $50k medivac helicopter ride. That didn't include a year of post-op recovery.

Could have been several people some insurance company was needing to pay for. And at the insurance limit, they send you the bill. I insure for things I can't cover out of my net-worth. My insurance limits are thus more than a little bit higher.

Now put several cars, some of them high end, into the accident scenario and I figure I need the cost of several high end cars. The Porsche I had super high deductibles on. I could afford another one. But not a Benz and a F-car.

If the auto insurance won't cover those limits, then a personal rider which rides on top of your other insurance (house, personal liability, auto) is a possibility.

[moosport]

Originally Posted by mikefocke

I worry about the limits you guys are citing.

I couldn't agree more with the statement. After 2 out of 3 cars I owned were involved in 5 accidents in 2016.

We up from 300/100 to 500/300. The last accident involved 3 cars hit by a Suburban. The driver only has the basic insurance which is insufficient to cover the property and medical damage. The case is still pending who gets what percentage. Th rest will be coming out from our own insurance State Farm.

Medical billing are still adding up. Make sure you have sufficient coverage for your own medical and run it through your health insurance first. You get better price and the health insurance will claim against the auto insurance.

[Lew]

Originally Posted by moosport

I couldn't agree more with the statement. After 2 out of 3 cars I owned were involved in 5 accidents in 2016.

We up from 300/100 to 500/300. The last accident involved 3 cars hit by a Suburban. The driver only has the basic insurance which is insufficient to cover the property and medical damage. The case is still pending who gets what percentage. Th rest will be coming out from our own insurance State Farm.

Medical billing are still adding up. Make sure you have sufficient coverage for your own medical and run it through your health insurance first. You get better price and the health insurance will claim against the auto insurance.

It's a good thing to raise the amount of Medical Insurance on your vehicles. I had a accident several years ago where I was rear ended and the car was totaled. I wound up in the hospital for a few days and my Medical paid all the bills. Not to mention my Attorney filed suit against the driver that hit me and I received a nice settlement. As for my increased Medical coverage on my vehicle, my attorney was able to get several thousand paid to me by my Insurance Company.....I might mention the suit was filed against StateFarm, and it's who I had insurance with.

As for the quote from Hagerty's, I called back and asked to raise the medical coverage from the their original quote, and the new limit only cost $15 per year.
With the cost of Hospitals today, Doctors, it's the ticket have plenty of medical coverage on your vehicles.