Uninsured motorist, do you carry it?

I'm kinda surprised there hasn't been a push to link cars' ignition systems to their current insurance (think satellite radio). You don't pay and carry insurance: your car doesn't start.

Much like the buy here pay here cars or the DUI ignitions.

I'm having an ongoing medical issue that is related to a car accident. It may lead to a permanent disability for me. Before the accident, my wife and I upped our Underinsured and Uninsured coverages to $500k each, per car. Stacked we have a Million in coverage on each. We have similar coverage if we cause an accident plus a Million dollar umbrella policy. Why? Because it's cheap compared to the alternative. Medical bills, physical therapy costs, helicopter transportation expenses and pain and suffering awards are huge-cover yourself.

A kid hit my sisters car years ago and caused a permanent disability to her. His family didn't have enough insurance coverage (had state minimums) and they were on the hook for a six figure portion of the settlement. They lost a lot of personal assets to pay the bill.

Is your house, pension, cars, and personal property something that you want to sell to pay an insurance settlement?

And while you're at it. Have adequate wage loss coverage. We used to have $1000.00 per accident in wage loss and we upped it to $50,000. My recent injury has kept me from working for over a year and $1000 wouldn't have paid one months mortgage.

Nobody likes paying for insurance but trust me, it's more painful to not have proper coverage.

Beer Baron wrote: I've never heard of it being mandatory, but I always keep it or comprehensive (which supersedes it) on all of my vehicles.

I'm confused by what you're saying. Comprehensive covers your vehicle for theft, fire, hail, deer, etc...

Required here as well, with a uselessly low minimum.

I've invoked it probably half a dozen times now, to pay for hit and runs, as well to kick in when the other persons inadequate insurance was exceeded.

codrus wrote: The way I see it, there are basically two options for insurance: - liability only. Good on cheap cars that you don't care much about and own outright. - full coverage, collision, comprehensive, UIM, etc. Good on everything else, required on cars that are financed or leased. I can't see why you'd get collision and comprehensive but not get UIM.

That's how I see it too. Either carry the minimum and be prepared to handle a total loss yourself, or insure it for everything.

Not mandatory in Arkansas but must be rejected in writing. Cheap here, no reason not to have it.

codrus wrote: The way I see it, there are basically two options for insurance: - liability only. Good on cheap cars that you don't care much about and own outright. - full coverage, collision, comprehensive, UIM, etc. Good on everything else, required on cars that are financed or leased. I can't see why you'd get collision and comprehensive but not get UIM.

I put comp on everything, it's dirt cheap in MI and is basically deer and windshield insurance.