Go to Jeff Salisbury LWGate Home Page.From: Avrum Lapin <avrum113@earthlink.net>
Subject: Re: uninsured motorist
Date: Sun, 31 May 1998 06:13:45 -0700 (PDT)
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At 3:48 PM -0600 5/29/98, persfin-digest wrote: >Date: Tue, 26 May 1998 22:36:12 -0400 >Subject: auto insurance-uninsured/underinsured coverage > >I just received my auto insurance billing. There seems to be some >changes to the uninsured/underinsured coverage which got me wondering if >this coverage is necessary. My state has a law requiring all drivers to >carry insurance. I am a full time employee with paid hospitalization. >I figure since the auto insurance's uninsured/underinsured coverage pays >only medical benefits and probably after my hospitalization is first >billed...just what's the reason for continuing the >uninsured/underinsured coverage?.....What am I missing here, if >anything? The premium for this part is $150, am I wasting my money? Depends on where you live. CA has mandatory coverage (verified when you renew your tags but there are about 20-25% of the cars running around without insurance. (they buy insurance for registration and let it lapse by not making the payments). The penalty for getting caught w/o insurance in CA can involve suspension of your drivers license. Driving with a suspended license can result in the car being impounded but if you lose a $400 car (still being financed) so what. Our local PD runs an impound lot as a revenue center. Every week the local Pick a Part comes and pays about $100 per old car (newer cars are usually bailed out by the finance co which pays towing, $15/day for 30 days plus an admin fee). Does your hospitalization cover everything or is there a deductible for such things as physio therapy done on an outpatient basis. $150 seems high - suggests that there are a lot of uninsured motorists out there. My coverage costs about 20% of what my liability coverage costs. Avrum Lapin Upland., CA - -
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