Uninsured motorist... who needs it?
02-18-2009, 03:29 PM
#1
Senior Member
SuperSport
Thread Starter
Join Date: Jul 2008
Location: San Diego, CA
Posts: 987
Uninsured motorist... who needs it?
I don't.
I removed it from my insurance, and also lowered my liability limits to $50K/100K.
My insurance dropped from $462 per year to $113 per year.
I just don't see the need for it. I have health insurance already. I would like the property damage coverage because it would pay for my bike in the case of a hit n run, but I can't keep it without UI.
I also don't understand the need for having insanely high limits on liability. The only way I could forsee needing that is if I ran over a pedestrian or ejected a passenger.
Someone will probably say I'm gambling. But well, you have to draw the line somewhere, and I'm going to err on the side of not paying out the nose to the insurance company. If those guys had their way, I'd have life insurance, pet insurance, etc, etc.
Sorry but if I croak, nobody is going to go without a meal.
I removed it from my insurance, and also lowered my liability limits to $50K/100K.
My insurance dropped from $462 per year to $113 per year.
I just don't see the need for it. I have health insurance already. I would like the property damage coverage because it would pay for my bike in the case of a hit n run, but I can't keep it without UI.
I also don't understand the need for having insanely high limits on liability. The only way I could forsee needing that is if I ran over a pedestrian or ejected a passenger.
Someone will probably say I'm gambling. But well, you have to draw the line somewhere, and I'm going to err on the side of not paying out the nose to the insurance company. If those guys had their way, I'd have life insurance, pet insurance, etc, etc.
Sorry but if I croak, nobody is going to go without a meal.
Last edited by CentralCoaster; 02-18-2009 at 03:32 PM.
02-18-2009, 04:00 PM
#2
Will drum for BBQ
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Join Date: Jul 2008
Location: Kentucky
Posts: 166
I run liability only on all my bikes. Of course they have to be paid off first. It's something I've done for a long time. By the time you figure deductible, how much it depreciates, and paying for the thing for even five years you can buy a new one at what I originally invested. I don't do PIP either since, like you, I'm insured through the company. It's insane how much some people pay to cover the bike over the life of the thing.
02-18-2009, 04:08 PM
#3
Out of my mind, back in 5
MotoGP
Join Date: Nov 2006
Location: Skurup, Sweden
Posts: 6,109
What is "uninsured motorist"...?
Your rules over there are confusing... liability... That's a bi-product of having to many lawyers me-thinks... over here that doesn't even exist...
Your rules over there are confusing... liability... That's a bi-product of having to many lawyers me-thinks... over here that doesn't even exist...
02-18-2009, 04:36 PM
#4
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MotoGP
Join Date: Sep 2006
Location: Austin, Tx
Posts: 4,138
There's not a lot I can say about my personal situation because it has just escalated to the next level. PM if you want more specific info. If you have a cafeteria style policy choose to have medical coverage on yourself.
Here's why, used to be that attorneys, doctors and specialists were all to willing to jump on the bandwagon after an injury and provide services until the insurance company screamed uncle.
Times have changed. Even if you have health insurance at work, et al they won't cover your med expenses because it will be somebody else's policy that will untimately pay the bill - you front the money for all the interim medical and pharaceutical treatments, the doctors provide you with all the details (some of these guys charge $500 to forward a file) it grinds you down to the point that you no longer have funds to recover a proper settlement and at that point the insurance company just won. Checkmate.
If you have med coverage through your bike policy everything changes. Your policy treats for gd near everything. They're in the business too! Most importantly your treatments are paid for - your funds are never involved.
All of a sudden, panic strikes the ultimate party's insurance company and they think, "Oh, ****! This could go on for decades. Offer this ****** whatever to get if off our books!" Checkmate rider!
Here's why, used to be that attorneys, doctors and specialists were all to willing to jump on the bandwagon after an injury and provide services until the insurance company screamed uncle.
Times have changed. Even if you have health insurance at work, et al they won't cover your med expenses because it will be somebody else's policy that will untimately pay the bill - you front the money for all the interim medical and pharaceutical treatments, the doctors provide you with all the details (some of these guys charge $500 to forward a file) it grinds you down to the point that you no longer have funds to recover a proper settlement and at that point the insurance company just won. Checkmate.
If you have med coverage through your bike policy everything changes. Your policy treats for gd near everything. They're in the business too! Most importantly your treatments are paid for - your funds are never involved.
All of a sudden, panic strikes the ultimate party's insurance company and they think, "Oh, ****! This could go on for decades. Offer this ****** whatever to get if off our books!" Checkmate rider!
02-18-2009, 04:54 PM
#6
Greenmeansgo!
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Join Date: Jul 2008
Posts: 199
Uninsured motorist coverage covers you in case the other person is at fault but doesn't have liability coverage; of course that person is supposed to have liability but some people don't.
02-18-2009, 04:54 PM
#7
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Join Date: Nov 2008
Location: Calgary, Alberta, Canada
Posts: 186
In my opinion, which doesn't usually count for much, I would rather pay the extra insurance and be covered for everything. All it takes is one jackass with a good lawyer and the next thing you know you have a million dollar law suit and no one looking out for you. I hope I never need my insurance but I sleep better at night knowing I am fully covered every time I put on my gear and head out the door.
02-18-2009, 05:34 PM
#8
Senior Member
MotoGP
Join Date: Sep 2006
Location: Austin, Tx
Posts: 4,138
In my opinion, which doesn't usually count for much, I would rather pay the extra insurance and be covered for everything. All it takes is one jackass with a good lawyer and the next thing you know you have a million dollar law suit and no one looking out for you. I hope I never need my insurance but I sleep better at night knowing I am fully covered every time I put on my gear and head out the door.
02-18-2009, 05:44 PM
#10
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Join Date: Nov 2008
Location: Calgary, Alberta, Canada
Posts: 186
I am classified as a "new rider" here in Canada and I am fully covered up to a million liability, fire/theft/vandalism, replacement value, and everything else my agent could think of and I pay 1200/year and worth every penny!
02-18-2009, 08:30 PM
#11
Administrator
World Champion
Join Date: Dec 2004
Location: Fulton, MO
Posts: 105,287
No liability? How do you get away with not paying for an SR22? DMV will catch up to you. It's only a matter of time.
02-19-2009, 02:55 PM
#13
Senior Member
Superstock
Join Date: Nov 2008
Location: texas
Posts: 286
here in texas my liability on the super hawk is like 80 bucks a year. and i only paid 60 bucks for the katana 750. at these prices who cant offord insurance when the ticket is probable impoundment and 1000$ fine.
02-19-2009, 04:17 PM
#14
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Join Date: Aug 2006
Location: IL
Posts: 227
I had full coverage on my Superhawk, but State Farm caught up to my discount, and they took it away from me. So I dropped it down to Liability only. The bike is a 1998, so I figured it wouldn't take much to total it, so paying deductibles wouldn't do anything good for me.
If you're not covered, you're asking for trouble if you ever get an accident, because all it takes is another possible person to sue you, and then you owe money. If your insurance is too high, its either because of age, or driving records. IMO, if you can't afford insurance for the bike, then you don't need the bike.
BTW, I pay $24 a month for the insurance on my bike!
If you're not covered, you're asking for trouble if you ever get an accident, because all it takes is another possible person to sue you, and then you owe money. If your insurance is too high, its either because of age, or driving records. IMO, if you can't afford insurance for the bike, then you don't need the bike.
BTW, I pay $24 a month for the insurance on my bike!
02-19-2009, 06:30 PM
#15
2nd mouse gets the cheese
SuperBike
Join Date: Jan 2008
Location: Beaverton, OR
Posts: 1,697
In my opinion, which doesn't usually count for much, I would rather pay the extra insurance and be covered for everything. All it takes is one jackass with a good lawyer and the next thing you know you have a million dollar law suit and no one looking out for you. I hope I never need my insurance but I sleep better at night knowing I am fully covered every time I put on my gear and head out the door.
02-19-2009, 08:07 PM
#16
Senior Member
SuperBike
Join Date: Oct 2008
Posts: 1,033
I had state farm on my truck. They wouldnt insure my bike cause it was a "Ducati" racebike. ya right.
Well I didnt have a vehicle for about a year and a half so I dropped paying my insurance. Now my rates have quadrupled since I dropped my insurance. WHAT BULLSHIT. I hope I can get it from another company without having to pay a ridiculous amount.
Well I didnt have a vehicle for about a year and a half so I dropped paying my insurance. Now my rates have quadrupled since I dropped my insurance. WHAT BULLSHIT. I hope I can get it from another company without having to pay a ridiculous amount.
02-19-2009, 10:20 PM
#17
Senior Member
SuperSport
Thread Starter
Join Date: Jul 2008
Location: San Diego, CA
Posts: 987
If there is no one else to pay the bill, such as a hit & run, then they have no one to go after.
02-19-2009, 10:56 PM
#18
Senior Member
SuperSport
Thread Starter
Join Date: Jul 2008
Location: San Diego, CA
Posts: 987
In my opinion, which doesn't usually count for much, I would rather pay the extra insurance and be covered for everything. All it takes is one jackass with a good lawyer and the next thing you know you have a million dollar law suit and no one looking out for you. I hope I never need my insurance but I sleep better at night knowing I am fully covered every time I put on my gear and head out the door.
Insurance companies are in business to make money off of you. Sort of like a casino. Some people win a big settlement, but 98% of people lose money in the long run. It seems almost unethical for insurance to be required.
Over the past 10 years I've paid them over $15,000 and only costed them $1200. That would have paid for 2 of my cars.
I don't even want to count all the health insurance and homeowner's insurance I've never used.
02-19-2009, 11:59 PM
#19
Senior Member
MotoGP
Join Date: Aug 2007
Location: Way Out West
Posts: 2,547
In California, "uninsured motorist" only pays you if the slug who hit you stops and is identified as an uninsured motorist. If they run and get away the insurance co. says "how do you know they were uninsured"? And they pay you jack frickin' ****.
02-20-2009, 10:44 AM
#20
Senior Member
Superstock
Superstock
Join Date: Apr 2007
Posts: 321
I'm never going to understand the uninsured motorist thing. No insurance=no general purpose driving. I think this loophole/rule is in place to relieve the agriculture industry (equipment drivers) but this should be a non-negotiable out on the open road. If your state allows drivers on the road without insurance write your representatives and demand that the state shoulder the costs of protecting whoever these uninsured motorists crash into. Lets be honest, most of these drivers go with the uninsured motorist fee because they can't get/afford insurance. They should be walking as far as I'm concerned.
Sorry for the rant, it's a hot button for me.
Sorry for the rant, it's a hot button for me.
02-20-2009, 11:10 AM
#21
Junior Member
Squid
Join Date: Oct 2008
Location: Spring Hill, Fl
Posts: 7
I guess I'm lucky (or stupid 
), in Florida we don't have to carry insurance on motorcycles to register or drive them. You have to own your bike of course to not have insurance, otherwise your lender forces you to carry it. I've had it with insurance companies, so any way I can avoid 
them, I do.
), in Florida we don't have to carry insurance on motorcycles to register or drive them. You have to own your bike of course to not have insurance, otherwise your lender forces you to carry it. I've had it with insurance companies, so any way I can avoid them, I do.
02-20-2009, 11:26 AM
#22
Senior Member
MotoGP
Join Date: Aug 2007
Location: Way Out West
Posts: 2,547
What your state does or doesn't allow and what some people are going to do anyhow are two different things.
Regardless of the law, if some one without insurance hits you, they probably don't have any wealth or assets to recover. If you don't have collision and/or UM coverage, you're on your own.
Regardless of the law, if some one without insurance hits you, they probably don't have any wealth or assets to recover. If you don't have collision and/or UM coverage, you're on your own.
02-20-2009, 01:00 PM
#23
Senior Member
Superstock
Join Date: Mar 2008
Location: Brooklyn, CT
Posts: 287
Every state requires drivers to have liability coverage: coverage for damage or harm the driver may do to another person, vehicle, or property.
Uninsured motorist coverage covers you in case the other person is at fault but doesn't have liability coverage; of course that person is supposed to have liability but some people don't.
Uninsured motorist coverage covers you in case the other person is at fault but doesn't have liability coverage; of course that person is supposed to have liability but some people don't.
It is a gamble to go without uninsured/underinsured. If a passenger on your bike has no medical and you get hit, the passenger can go after you. if it's someone you care about...they are S.O.L. when it comes to medical. Plus, if the other driver has minimal coverage, your medical bills may exceed the coverage.
I pay the few hundred extra a year for $100k/$300k.
02-20-2009, 01:05 PM
#24
Senior Member
Superstock
Join Date: Mar 2008
Location: Brooklyn, CT
Posts: 287
Uninsured motorist coverage won't protect you from a lawsuit. Nobody is going to sue you for crashing into you and being at fault without insurance. Essentially you're paying extra to insure them and everyone else around you.
Insurance companies are in business to make money off of you. Sort of like a casino. Some people win a big settlement, but 98% of people lose money in the long run. It seems almost unethical for insurance to be required.
Over the past 10 years I've paid them over $15,000 and only costed them $1200. That would have paid for 2 of my cars.
I don't even want to count all the health insurance and homeowner's insurance I've never used.
Insurance companies are in business to make money off of you. Sort of like a casino. Some people win a big settlement, but 98% of people lose money in the long run. It seems almost unethical for insurance to be required.
Over the past 10 years I've paid them over $15,000 and only costed them $1200. That would have paid for 2 of my cars.
I don't even want to count all the health insurance and homeowner's insurance I've never used.
He had no coverage for uninsured. His family had to finance the funeral costs.
My boss got hit while he was standing on the side of the road (DUI at 9:00 am). He almost died. Allstate paid him out his max. $1 million.
Last edited by rbrais; 02-20-2009 at 01:08 PM.
02-20-2009, 01:25 PM
#25
Senior Member
MotoGP
Join Date: Mar 2007
Location: Phoenix, AZ
Posts: 3,132
I had state farm on my truck. They wouldnt insure my bike cause it was a "Ducati" racebike. ya right.
Well I didnt have a vehicle for about a year and a half so I dropped paying my insurance. Now my rates have quadrupled since I dropped my insurance. WHAT BULLSHIT. I hope I can get it from another company without having to pay a ridiculous amount.
Well I didnt have a vehicle for about a year and a half so I dropped paying my insurance. Now my rates have quadrupled since I dropped my insurance. WHAT BULLSHIT. I hope I can get it from another company without having to pay a ridiculous amount.
02-20-2009, 10:43 PM
#26
2nd mouse gets the cheese
SuperBike
Join Date: Jan 2008
Location: Beaverton, OR
Posts: 1,697
its more of an age thing, and prices have gone up on everything. Also insurance pricing is very state related because of legislation. And insurance companies are bussiness's plain and simple they can't pay out as much as they recieve or they wouldn't exist.
02-21-2009, 08:02 AM
#27
Senior Member
Superstock
Superstock
Join Date: Apr 2007
Posts: 321
What your state does or doesn't allow and what some people are going to do anyhow are two different things.
Regardless of the law, if some one without insurance hits you, they probably don't have any wealth or assets to recover. If you don't have collision and/or UM coverage, you're on your own.
Regardless of the law, if some one without insurance hits you, they probably don't have any wealth or assets to recover. If you don't have collision and/or UM coverage, you're on your own.
02-21-2009, 08:41 AM
#28
Will drum for BBQ
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Join Date: Jul 2008
Location: Kentucky
Posts: 166
Understood. But you've got to realize some people will drive anyway. Doesn't matter if they don't have a license, insurance, etc. They will still get in a car and drive. Just because your not legal doesn't mean you can't get into a car, turn the key and drive away.
Liability insurance is mandatory in Kentucky, but people drive without it, even without a license. There's people here who have gotten their license taken away for a DUI, but it's still legal for them to operate a scooter on the road. Now that one befuddles me.
Last edited by HondaJim; 02-21-2009 at 08:43 AM.
02-21-2009, 09:18 AM
#29
Senior Member
MotoGP
Join Date: Aug 2007
Location: Way Out West
Posts: 2,547
Yeah. California has had mandatory insurance for decades. Can't register a vehicle without proof of insurance.
Insurance companies must notify DMV if insurance lapses- and DMV suspends registration.
Guess what? California has more uninsured drivers than any other state. About FIVE MILLION as of 2007. With the economy tanked you can bet it's higher now.
They drive uninsured and you cancel their registration? No problemo. Who needs registration? Tow their $400 car? Fine. They'll buy another $400 car.
Take away their driver's license? What driver's license? They don't have a driver's license! You have to be a citizen or legal resident to get a driver's license.
Insurance companies must notify DMV if insurance lapses- and DMV suspends registration.
Guess what? California has more uninsured drivers than any other state. About FIVE MILLION as of 2007. With the economy tanked you can bet it's higher now.
They drive uninsured and you cancel their registration? No problemo. Who needs registration? Tow their $400 car? Fine. They'll buy another $400 car.
Take away their driver's license? What driver's license? They don't have a driver's license! You have to be a citizen or legal resident to get a driver's license.
02-21-2009, 10:45 AM
#30
Member
Squid
Join Date: Jul 2008
Location: Oakland, Ca
Posts: 80
Most recent pisser here in Ca I know of. Ulincensed immagrant from the extreme southwest, been in the USA for 12 years, drives a $ 400 truck like a raving lunatic,carries minimum liability, for a song. Said ****** routinely gets speeding tickets, pays the $$, and NEVER has a rate increase due to the fact he has no CDL, therefore DMV does not even know he is on the road. This is so common in this state I want a flame thrower. You do not need a drivers license to buy auto insurance, they will right policys all day long. or perhaps the proof of insurance unlicensed drivers carry is fake, just pay the fine and we are happy, so says the CHP. (Ca highway patrol)
Sorry for ranting, now I can go back to being happy again .. I also apologize if this is sligtly off topic
I need to determine what insurance to carry for a track
only motorcycle
Sorry for ranting, now I can go back to being happy again .. I also apologize if this is sligtly off topic
I need to determine what insurance to carry for a track
only motorcycle
