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Can you add uninsured motorist after finding out the fault driver has limited coverage?
Wiki User
∙ 12y ago
No. You coverages that apply is what you had at the date and time of loss.
Wiki User
∙ 12y ago
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Is it necessary to carry uninsured motorist coverage in a no-fault state such as Florida?
Of course. Do you think that NO ONE ever drives without insurance? Be covered and be protected against financial ruin. If you are a person who rarely carries passengers and you have good health insurance (which would cover any injuries you might incur in an accident anyway) why do you need to carry uninsured motorist coverage (which only covers bodily injury, not damage to your veh)? . You don't. In addition, in Florida you are required to have PIP (usually $10,000 worth of coverage) anyway, so you end up with like triple coverage if you have a good medical policy, PIP and Uninsured Motorist coverage. MOST MEDICAL HEALTH ONLY PAYS A LIMITED PT, WHAT IF YOU NEED A NURSE TO TAKE CARE OF YOU OR FAMILY MEMEBER? YOUR MEDICAL HEALTH DOES NOT PAY FOR THAT. Contrary to what is written above, you need uninsured motorist coverage for the simple fact that it also provides for lost wages. If the accident causes you to miss time from work, how are you going to recoup those wages? Does your health insurance provide that coverage? Nope. Uninsured motorist also provides a pain and suffering benefit. If the person who hit you doesn't have the money to pay for insurance, how much money do you think you'll be able to get from them for pain and suffering? Nada. Get it- you need it. No, it is not necessary. Anyone who says you should have it without enquiring about how this might be duplicated because of other insurance coverage or job benefits is just a salesman. Each situation is different. As a general rule, however, if you have good health insurance you don't NEED this insurance.
An insurance policy with bodily injury coverage covers?
It depends on the state in which the policy is written and also if there is an accident, the state in which the accident occurs. Typically however, it covers bodily injury, as defined in the policy section labeled "definitions" to anyone involved in the accident toward whom you might have liability. That liability is defined by the law. The coverage will be limited by exclusions or things not covered as outlined in the policy or endorsements. In other words, generally speaking, it covers the injuries sustained by another party due to something that is either fully or partially your fault. It may or may not provide that same coverage to occupants of your vehicle, members of your household, etc. Whatever it does cover in terms of money, it is to the value of the claim or to the limits of the coverage, whichever is less. Never assume that you know what is covered unless you check with someone who knows how to read your policy. It sounds almost condescending but I certainly don't mean it that way. I have been a claims manager for many years and coverage is one of my specialties. It can be very straightforward or very complicated depending on the situation. Adjusters, supervisors, managers and even attorneys don't always get it right. In addition, the terminology also has application to uninsured motorist coverage. That is a separate coverage which is intended to provide compensation for you, or occupants of your vehicle, who were injured in a collision with another vehicle that did not have personal injury liability coverage. Uninsured motorist coverage often comes in the same amount as the liability insurance that you purchase, but there can sometimes be an option for higher limits, lower limits, or an option to waive uninsured motorist coverage altogether. If a collision and resulting injuries occur for which uninsured motorist coverage applies, the valuation of the injury is made similarly to that of a third-party claim (that is, one against the other driver's bodily injury insurer had there been one) This can include a reduction in recovery for any comparative or contributory negligence (depending upon the rule of law followed by the governing state) attributable to the person asserting the claim for damages. Typically, "bodily injury" is afforded the same definition in this context.
How important is uninsured motorist coverage?
If you have medical insurance, Uninsured Motorist coverage is NOT important. Your medical insurance will already pay your medical bills. The only people that recommend this coverage are lawyers, insurance agents, and insurance associations. That is because they make money off of selling it to you. They will point out that this coverage also pays for lost wages and pain and suffering. That may be true, however many people have disability insurance through their employer. And do your really need insurance to protect you against pain and suffering? Do you carry insurance for pain and suffering caused by other things? (such as the death of a loved one?).. Then why would you pay for pain and suffering insurance in this case? And another thing, in order to collect anything under this coverage, you will NEED a lawyer. This is because in order to collect from your insurance, you must first sue the other driver, obtain a legal judgment against them, and then prove to the insurance company that the driver can not pay. In short, they make you jump through hoops in order to collect anything. So conclusion: this coverage is not important at all. Put the money towards medical insurance and disability insurance if you don't already have them because they are MUCH more important, and skip this coverage.AnswerReasonable minds might differ on this answer, and I adamantly beg to do so.First of all, many people do not have health or disability insurance for any number of reasons. One of the prime reasons for not having health insurance is the existence of a pre-existing which can preclude coverage, at least for a period of time. If a collision occurs in the interim and the individual is injured, they are out of luck. In contrast, there is no limitation on the availability of uninsured motorist coverage. As to disability insurance, the employers that offer it usually limit it to short-term disability coverage (such as 90-120 days); and individual disability policies are normally quite costly.Second, health insurance policies are subject to deductibles and co-payments. A deductible is the amount of expense that has to be incurred before the insurer's obligation to pay is triggered. A co-payment is that percentage of a covered expense that the insured bears responsibility for. For example, an 80/20 policy means that the insurer pays 80% of the covered expense, and the insured pays 20%. Although this general rule may differ when coverage is provided by a health maintenance organization, it is the rule with respect to more customary health insurance coverage. Likewise, a disability policy normally has an "elimination period". This is conceptually similar to a deductible, but measured in time rather than the amount of medical expense incurred.Third, and as suggested in the first answer, health insurance does not pay for lost wages or pain and suffering, which can be major elements of a claim from an auto collision. While attorneys representing injured people do get a portion of the recovery as part of a contingent fee, it is pure cynicism to suggest that as a valid reason to reject uninsured motorist coverage. If one is out of work for an extended period, living expenses continue to accrue and there must be a way to pay them. While Personal Injury Protection coverage ("no-fault" insurance) provides some benefits, those benefits are limited. Furthermore, if the injured person sustains a disablement that prevents him/her from working (at all or at the same level of earnings), uninsured motorist coverage may compensate for that loss extrapolated over the remaining life of the injured person.In sum, uninsured motorist coverage is personal risk management tool. It protects against injuries sustained by innocent (non-negligent) parties who are injured by the carelessness of persons who do not have liability coverage.It is well worth the expense. And no, I am not a personal injury lawyer.
What are the definitions for liability insurance medical payments insurance uninsured motorist comprehensive and collision for auto insurance?
Liability insurance: The coverage found on any auto policy that handles damage you cause to another person's property, either directly or indirectly with your car. Medical Payments Insurance: Can be either Medpay or PIP. PIP -- or "personal injury protection -- is required in many states, and essentially handles your medical bills in an auto accident, regardless of who is at fault. (summary:will re-attach your fingers if chopped off in a accident) Uninsured Motorist: Can be for either property damage or bodily injury, and essentially makes your carrier step in when the at-fault party is either uninsured or doesn't have enough coverage to handle all your damages. Most people have UMBI (for bodily injury), and mistakenly believe it covers property damage to their cars as well. It doesn't. (summary:will pay for your loss of income as you are an architect whos fingers were cut off and had to miss work for two months while in physical therapy) Comprehensive: A voluntary coverage that, along with collision, constitutes "full coverage" on a vehicle. This is for "non-collision" type accidents, even when you collide with an animal. Essentially, it's to protect your car when you aren't at-fault for a loss. Includes coverage for hail, flooding, etc. Collision: Another voluntary coverage, which handles collisions or overturns involving your vehicle. This is triggered whether you're at-fault or not for a loss, in that it's specific to your vehicle colliding with another object or overturning.
Auto accidents and insurance claims with no insurance?
well it depends where u live as auto insurance differs everywhere. But here in Ontario, when a person hits you and drives off or has no insurance, it goes under your Uninsured auto mobile coverage. and it has very limited coverage for Medical bills, and fixing ur vehicle up to 25,000 if it was a person with no insurance. if its a hit and run then u have to pay the damages to your car out of pocket. or make a claim under your collision coverage.
What type of warranty is on a car if the seller will only provide coverage for specific things?
Limited
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Will my medicare cover my medical expenses in Northern Ireland?
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What is the cheapest car insurance policy for new owner?
Your question cannot be answered without knowing other facts. These include: 1. The type and amount (policy limits) of coverage you wish to obtain; 2. Where you are located; 3. Your age and driving history; 4. The make and model of the car that you wish to insure. First and foremost, be aware that cheapest is not always (and usually rarely is), the best. Therefore, do not make the decision based upon cost alone. Insurance is, in large part, for your own protection. For example, collision coverage will generally pay for the repair of your car irrespective of fault if you are involved in a collision. Depending upon the age and condition of your car, it may not be practical to maintain this coverage, as the premium may be disproportionately high relative to the value of the car. However, if the vehicle is financed, the lender may require it to protect the collateral (to ensure that there are funds available for repair and therefore, to maintain the vehicle's value relative to the loan). Liability insurance is especially important, and is required by many states. Both physical damage and bodily injury liability insurance is available. They serve similar purposes by answering in money damages (either for damage to property or injuries to the person) in the event of a collision that is your fault. Moreover, liability insurance provides a lawyer to defend you in the event that you are sued from the collision. Note, though, that the liability insurance will pay damages only up to the limits (amount of coverage) that you have purchased and paid a premium. Therefore, do not shortchange yourself, as you may be held personally responsible for damages in excess of liability limits. If a judgment is entered against you, it can follow you for many years. Another important coverage is uninsured motorist coverage. It is intended to compensate you for your own bodily injuries if you are not wholly at fault for a collision and the other party has no (or insufficient) liability coverage. Normally, the amount of uninsured motorist coverage is commensurate with the amount of liability coverage that you purchase, but it is not a required coverage. You are taking a big chance to go without it. There are other types of auto-related coverage as well, but for the sake of brevity, I have limited the discussion to the above. Don't be taken in by the hype of "cheap rates". There is a great deal more to the analysis, and your entire financial picture has to figure into it. Deal only with a reputable agent who is licensed to transact insurance business in the state in which you live. Some major insurers also operate on line, and they can be fine, but beware of agents and brokers who emphasize only low rates, no down payment, etc.
What company offer's limited liability insurance?
You can purchase limited liability insurance from any company that sells a car insurance policy, so you will choose the level of coverage you want to buy.
