. . . I don't dissect insurance coverages as a rule. I just pay my premiums when due and as you are aware I'm sure. here in the rust belt state, no insurance means no driving a vehicle because you won't get your tags from the state.
Simply put, I'm not at all concerned about it.
Hello 5050,
I have had the same insurance company for more than 40 years. I knew the owner very well and always started any coverage questions with him. Nice guy. Very successful agency. I figured I knew my business and he knew his.
Then I had a car accident. Didn't seem like a big deal. Other party completely at fault (I was stopped at a stop sign). My arm just hurt a little.
Then it was a big deal. Mega $$$ in hospital bills and a serious injury. The other party had $100k coverage that their insurance company threw in right away. I had $500k in uninsured/underinsured coverage. When it came time to sit down with my insurance company I learned all about CONVERSION coverage - that I did not have:
This is from the state of CT's insurance website
Underinsured motorist conversion coverage also provides for reimbursement in case you are injured by an underinsured driver. If your damages exceed the at-fault driver’s insurance, or other payments, your underinsured motorist conversion coverage will be available for damages not paid. This
optional coverage
is not reduced by payments from any other source, including the at-fault driver’s liability insurance.
For example, if you have uninsured/underinsured coverage of $300,000 and you sustain $400,000 in personal injuries caused by an at-fault driver with $200,000 in bodily injury liability, without underinsured conversion coverage you would only be able to collect the $200,000 from the other driver’s insurance plus $100,000 from your own underinsured coverage, which equals your $300,000 limit minus the $200,000 collected from the other driver’s insurance. With conversion coverage, you could collect the full $200,000 from your own underinsured coverage.
I never blamed my agent. It's my own fault.
It's relatively cheap to add and when I asked by buddy the insurance guy why he hadn't included it he replied, "Only my clients that are attorneys ask for it". DUH! They understand.