What do you consider "good" car insurance?

[scbelleatheart]

DS was in a car accident. The lady who pulled out in front of him caused the accident. But she says she had good insurance. After the fact, no she does not have good coverage. Do you consider $100,000 good coverage? Hospital bills alone are over $100,000for him.
What is your max for insurance?

 

[pintamino]

I mean, that would depend on your situation, wouldn't it? People with assets to protect need more insurance than those of us without. Assuming your son will sue for medical costs above insurance, it depends on what she has to protect (a house? Other valuable property? Straight up $$? vs say a young basically broke professional who is single rents their home and has $1000 in the bank...) Legally we carry insurance to protect the othe driver, but in reality who do we carry it for?

I carry well above state minimum because my vehicle is financed. I consider the state minimum good compared to being hit by a driver with no insurance though.

(Disclaimer: not an attorney/insurance agent/doctor/any kind of highly trained professional)

 

[tasha99]

100,000/300,000 is pretty typical.

 

[tvguy]

100,000/300,000 is pretty typical.

I agree. But the assumption with auto insurance is that it only has to cover the deductibles on the injured persons medical insurance, not the entire bill. Does your son not have medical insurance?

 

[Darcy03231]

I agree. But the assumption with auto insurance is that it only has to cover the deductibles on the injured persons medical insurance, not the entire bill. Does your son not have medical insurance?

If you're injured in an accident your medical insurance doesn't cover the bills, the other person's/entity's insurance covers. Auto accident - auto insurance covers, workers' comp - company's insurance covers, someone's home -their homeowners's insurance covers.

Most of the time the medical insurance will pay in the first instance and then be reimbursed from the auto insurance carrier when the claim is settled.

We carry $300,000/$500,000 with a $1,000,000 umbrella. Hospital bills can go high really fast.

 

[Riles_and_Gabe]

I carry 250,000/500,000 with a $1 million umbrella. I think most people carry 100,000/300,000 (at least that is what I saw when I worked Customer Service in an Insurance Sales Office).

 

[denise5374]

Insurance laws vary by state.

I am a licensed insurance agent in PA and NJ.

And my answer to the OPs questions is, it depends. Insurance is a very personal issue and there is no "correct" answer.

 

[scrapquitler]

I carry 250,000/500,000 with a $1 million umbrella. I think most people carry 100,000/300,000 (at least that is what I saw when I worked Customer Service in an Insurance Sales Office).

We have $250K/$500K with an umbrella policy for $1 million. We don't want to jeopardize our entire financial situation if we have some sort of unfortunate accident.

 

[lost*in*cyberspace]

DS was in a car accident. The lady who pulled out in front of him caused the accident. But she says she had good insurance. After the fact, no she does not have good coverage. Do you consider $100,000 good coverage? Hospital bills alone are over $100,000for him.
What is your max for insurance?

I hope he is okay; that is an extremely expensive medical bill. Doesn't he also have his own medical and auto insurance?

 

[dfchelbay]

I agree. But the assumption with auto insurance is that it only has to cover the deductibles on the injured persons medical insurance, not the entire bill. Does your son not have medical insurance?

Your medical carrier will fight having to pay anything for auto related injuries. They won't want to take that financial hit when an auto policy is in effect.

 

[tvguy]

If you're injured in an accident your medical insurance doesn't cover the bills, the other person's/entity's insurance covers. Auto accident - auto insurance covers, workers' comp - company's insurance covers, someone's home -their homeowners's insurance covers.

Most of the time the medical insurance will pay in the first instance and then be reimbursed from the auto insurance carrier when the claim is settled.

We carry $300,000/$500,000 with a $1,000,000 umbrella. Hospital bills can go high really fast.

Your medical coverage is responsible for your medical bills once the medical coverage on the auto policy has met it's limit, which is what the OP's situation is.
http://www.mikeschaferlaw.com/libra...over_Me_If_I_Am_In_An_Automobile_Accident.pdf

 

[tvguy]

Your medical carrier will fight having to pay anything for auto related injuries. They won't want to take that financial hit when an auto policy is in effect.

OP says auto policy limits were exceeded, it is on their health insurance now.

 

[dansamy]

The at fault driver's insurance covers medical first. Then, your son's uninsured/under insured motorist policy picks up to its limits. THEN, your son's medical insurance would pick up anything else.

 

[Judique]

The at fault driver's insurance covers medical first. Then, your son's uninsured/under insured motorist policy picks up to its limits. THEN, your son's medical insurance would pick up anything else.

In between somewhere,THEN the lawyers start figuring it out.

 

[dansamy]

In between somewhere,THEN the lawyers start figuring it out.

Yeah, the son's insurances would probably both sue the at fault driver to recover their losses.

 

[disneychrista]

When my kids were in school, the school required $100,000/$300,000 to drive on field trips. I figure, if it is good enough for them, it is good enough for me.

 

[cvjw]

When my kids were in school, the school required $100,000/$300,000 to drive on field trips. I figure, if it is good enough for them, it is good enough for me.

I would have agreed with you until my 17 year old DS was involved in an accident with a motorcycle last year. The motorcycle was flying and ran into him in an intersection. It was the motorcyclists fault, and he was taken from the scene by ambulance to intensive care. His hospital stay/continuing medical bills are astronomical.

Even though the motorcyclist was responsible for the accident and ticketed at the scene, he has been trying to change blame for the accident to my son for over a year. We have been living under the threat of a lawsuit by him ever since - he is trying to grasp at straws to pay for his medical bills. At the time, we carried $500,000 in car insurance per policy. The day after, we upped it to $1,000,000 for each car. $500,000 can be reached with one accident, in the blink of an eye.

 

[APiratesLifeForMe2]

Insurance laws vary by state.

I am a licensed insurance agent in PA and NJ.

And my answer to the OPs questions is, it depends. Insurance is a very personal issue and there is no "correct" answer.

Insurance agent in KY here and I second this answer.

 

[Gracie09]

We have $250K/$500K with an umbrella policy for $1 million. We don't want to jeopardize our entire financial situation if we have some sort of unfortunate accident.

This is where we are.

 

[Denise W]

Actually, depending on what state your policy is in, your own medical/PIP coverage pays FIRST for your medical bills and then your carrier subrogates to the liable party to recover that money. The liable party's BI coverage (bodily injury) will pay back your carrier and also cover your pain and suffering claim. If those all exceed the BI limits then if you have underinsured motorist coverage your carrier will pay the rest of the claim. It can get quite complicated.

Denise