the old grind
Elite Member
- Joined
- Jul 21, 2012
- Messages
- 4,412
- Location
- Mid-Michigan
- Tractor
- NH T-1520 HST, NH TC33DA HST, Case DX26 HST, .Terramite T5C, . NH L785
I have always carried 100/300 liability, thinking that the ins co's lawyers would step in to save themselves some bucks or perhaps seek info to share with fraud investigators.
In MI we have no-fault insurance, where a drivers own company pays damages. Also, with a motorcycle endorsement on my driver's license my car policy's medical coverage extends to my bike. (I have additional medical coverage added to the cycle policy.) btw, my last laydown broke 5 ribs and punctured a lung. Bill was $26k sent to me pending BCBS stepping in. They offered $6.5lk and it was accepted in full. I'd have been paying the whole bit for years.
Insurance is a warped industry, and what rankles me is the 'catastrophic claims' tax that all MI drivers must pay when renewing any vehicle policy. 2/3 of my bike insurance cost is that tax levied to reduce payouts by ins carriers. Apparently our policy premiums aren't enough by themselves.
Now that our state has rescinded the helmet requirement on motorbikes we hear that skull fractures have risen statistically by 40% since the change. One is required to be 21 years old and have additional $20K medical coverage to ride w/o a skid lid, but there's one rule that is obviously ignored by many. (teens on rice rockets) I won't ride without a helmet, though I did in the 60's before enlisting in the Army.
Insurance companies are the original pyramid scheme, and remain so because we are required to be covered. As in LA, I'm sure a lot of folks drive uninsured. They pay for one month to get a rider for registration, then let the policy get cancelled for non-payment w/o being reported. Seems one is only accountable for it at tax time, so I wonder if 'affordable health care' has its share of seasonal 'dropouts', too.
In MI we have no-fault insurance, where a drivers own company pays damages. Also, with a motorcycle endorsement on my driver's license my car policy's medical coverage extends to my bike. (I have additional medical coverage added to the cycle policy.) btw, my last laydown broke 5 ribs and punctured a lung. Bill was $26k sent to me pending BCBS stepping in. They offered $6.5lk and it was accepted in full. I'd have been paying the whole bit for years.
Insurance is a warped industry, and what rankles me is the 'catastrophic claims' tax that all MI drivers must pay when renewing any vehicle policy. 2/3 of my bike insurance cost is that tax levied to reduce payouts by ins carriers. Apparently our policy premiums aren't enough by themselves.
Now that our state has rescinded the helmet requirement on motorbikes we hear that skull fractures have risen statistically by 40% since the change. One is required to be 21 years old and have additional $20K medical coverage to ride w/o a skid lid, but there's one rule that is obviously ignored by many. (teens on rice rockets) I won't ride without a helmet, though I did in the 60's before enlisting in the Army.
Insurance companies are the original pyramid scheme, and remain so because we are required to be covered. As in LA, I'm sure a lot of folks drive uninsured. They pay for one month to get a rider for registration, then let the policy get cancelled for non-payment w/o being reported. Seems one is only accountable for it at tax time, so I wonder if 'affordable health care' has its share of seasonal 'dropouts', too.
