Is it worth it to have more than the minumum car insurance?

[aczlan]

I have well more than the minimum insurance as if I am at fault, I want to make sure the other party is made whole (as much as money can make someone whole anyways).
I also run a dash camera in my car so I can prove what I did (or didn't do).
I also carry uninsured/underinsured motorist coverage in case I get hit by someone with little or no insurance coverage.

Aaron Z

 

[Paddy]

Kenmac,

I understand insurance companies will settle out of court if a. it looks like they could lose or b. the cost to fight is greater than the payout.
But in this case, the payout does not make sense. How would the insurance company think the speed of impact in a drive through line could cause all members of a car to sustain such body injuries? If the damage was really just to the plastic grill, there is no way.

Insurance companies are out to make money, rolling over and forking out a $100k is not making money.

A friend of mine worked for an insurance company investigating fraud. Photographing people playing golf right after winning big bucks for major back injuries.

 

[STx]

I have well more than the minimum insurance as if I am at fault, I want to make sure the other party is made whole (as much as money can make someone whole anyways).
I also run a dash camera in my car so I can prove what I did (or didn't do).
I also carry uninsured/underinsured motorist coverage in case I get hit by someone with little or no insurance coverage.

Aaron Z

I made changes to my policy after my accident. I was in one of my company vehicles that was paid off so I was only carrying liability and a $5k PIP. I now carry UIM on everything. It only takes one time to make all the premiums worth it.

 

[JPRambo]

many years ago my wife was in a 'fender bender'. 30 mph T-bone with a vehicle that ran a stop sign. The minor injuries were a broken ankle. She went throught 7 or 8 operations to make the ankle work again. All failed now her ankle is fused together. No ankle mobility at all. The operation along were around $250,000. We had $5,000/10,000/20,000. Luckily the other vehicle owner had $300,000 insurance. A friend had the same as I and an accident. Broke both legs and had to pay for the operations to repair. Cost her $50,000 more than both vehicle insurance covered. We raised our insurance coverage afterwords.

 

[tallyho8]

The main reason that I carry $300,000 liability insurance is for MY sake. I have to have that to get $300,000 in uninsured motorist insurance that will pay ME if an uninsured or underinsured driver injures me or my family. One forth of drivers in Louisiana have no insurance even though it is compulsory.

I would like to have an umbrella policy but to get one here, all of your property must already be insured for $300,000 liability and the umbrella policy only covers claims over that amount. Since Katrina it is impossible to find companies that will give me that large a policy on some of the properties that I own so I am unable to get an umbrella policy.

I do believe though that, if I had a $5,000,000 umbrella policy, then the victims lawyers would just put better lawyers on the case and sue for $10,000,000.

After we got notice that we were being sued, I wanted my wife to go see a lawyer to see if we could counter-sue them for "injuries", but my wife, being the decent person she is, refused to do so since she wasn't hurt.

People here who are drivers or passengers in an auto that was in a wreck with the other driver at fault, are offered $1000 to sign a release even if they tell the insurance company that they are not hurt but refuse to sign a release. If they want more than that they go to a lawyer who gets them far more to sign the release form.

 

[two_bit_score]

It could also be a scam where the "victims" already had the damage to their car and just go around looking for trucks with the hitch in and claim to be hit. I would certainly let your insurance company know that your wife didn't even feel a bump and the "victims" are making the whole story up.

Good point.


TBS

 

[Dftodd]

This convinces me I need to get active cameras all around. As others suggested McD's or maybe n adjoining business should have video.

Company I used to work for had dash cams installed into the service and delivery trucks. Not three weeks later I was running down the interstate in my service truck towing a trailer with a piece of equipment on the back. Had my boss behind me with the delivery truck. Running in the right lane and had a car in the break down lane acting fishy. At the same time, I had another car come along side me and sit dead even with the side of the trailer.

At the last second, the car in the break down lane shot out in front of me and slammed on there brakes. With out missing a beat, I took the brake down lane, went part way past them and had to cut back into the road do to a construction barrier. Took out the front end of there car with the trailer.

Cops were really happy to get the dash cam footage out of both trucks. Come to find out, the folks in the vehicle next to me and the one I hit were part of a gang that was staging accidents. Dash cam footage helped the police convict them

 

[STx]

Dash cams are a good investment. I put them in all my company vehicles, we had an accident a little while later but, the employee driving had unplugged it to plug in his phone charger so it wasn't running. Fortunately, the photos taken at the scene were enough to tell the story.

In a company vehicle or an expensive car, everyone should have a dash camera now. They're both targets for accident scammers who are looking for deep pockets to sue.

 

[tcartwri]

I don't know how it is in other areas, but here, there are these personal injury lawyers on tv all day long trying to get anyone that has been in any type of accident to call them, as they have recovered millions for accident victims.

This type of fishing used to be grounds for dismissal from the bar up here. Doesn't seem to be the case anymore.

 

[kenmac]

Kenmac,

I understand insurance companies will settle out of court if a. it looks like they could lose or b. the cost to fight is greater than the payout.
But in this case, the payout does not make sense. How would the insurance company think the speed of impact in a drive through line could cause all members of a car to sustain such body injuries? If the damage was really just to the plastic grill, there is no way.

Insurance companies are out to make money, rolling over and forking out a $100k is not making money.

It doesn't matter to the ins. company. They are making it up off our backs. I've had ,and see it over ,and over again.. In my above post. I have had customers say I caused water leaks all under their house, after changing out a condenser fan motor ! Their lawyer sent my insurance co. a letter. It was cheaper for me to just send my guys over and repair the plumbing ,than have my insurance co. sued.

You can't believe it really happens , until it happens to you