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Discussion Starter #1
I am getting an education on Insurance. Are you aware of state minimuns. That's the minimum amount of insurance you are required to carry on a car. In Connecticut its 20/40/10 that works out to a max payout of 20K for any one person injured. A total of 40k for all injuries for the incident and 10k max payout on property. So if a 25 yr old kid with the minimum totals your Shelby and he has no assets, the most an insurance will pay is 10K. Its it up to you to go after him personally (good luck) or involve your insurance. Heaven forbid if he kills you thats 20K. I think the states should be held accountable for these rediculous mins. I found this out the hard way My father in-law was struck and killed by a 25 yr old while walking accross a street. Yep you guessed it the insurance company wrote a check for 20k and passed along their condolences, they are done. 25 yr old kid no assets. Minimal income. Tough way to go. Our family is left in termoil with very little compensation for a horendous act.
No amount of money could undo this but it would have helped clean up the mess

LLoyd
 

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That is crazy, and sorry to here of your loss.


In our state we have to have coverage for uninsured motorists which I believe covers some of that issue, but not much.
 

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Wow, check out Ohio?
 

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Discussion Starter #5
wow don't get hurt in ohio. In CT your are required to carry insurance. The trick is to put the min amount down on a policy get the insurance card and then let the policy lapse for non-payment. As long as you have the card and are stop by the police you're ok even if the policy has been canceled. The card is required to register the car. The insurance companies are not required to notify the state when they cancel a policy. Thats why we have so many un-insured incidents in a state requiring minimal insurance. The only people with insurance are those wanting to protect their assets


LLoyd
 

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In Arizona, you get uninsured and under insured benefits. If you get hit by another driver that has only the minimum, or worse yet, no insurance at all, you sue your own company for the difference of the loss. Unfortunately for us, we have a large population of undocumented drivers who may or may not get deported. Just try to collect from them........not gonna happen!
 

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In Arizona, you get uninsured and under insured benefits. If you get hit by another driver that has only the minimum, or worse yet, no insurance at all, you sue your own company for the difference of the loss.
That's what I've always done.

My Mom has worked in the legal field all my life, so she's taught me to pay for the extra insurance so that, at a minimum, your own insurance will pay God forbid something like this happens.

My condolences LLoyd.
 

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My condolences Lloyd.

While I agree the limits are low, I don't know how anyone can determine what a life is worth. Even if it were set at $2M, who's to say that's enough? People get what they pay for...and if someone pays for the state minimum, then you should be able to go after them legally.

Although the state mins are low, every quote I've ever received in Indiana shows 100/300/100 coverage...because this is what the INDUSTRY recommends as the minimums. In addition, I have an umbrella policy that requires me to keep about double that amount of coverage.

Again, I'm very sorry about your father.

Dave
 

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Lloyd I am sorry for your family loss.Take care of your wife in her time of sorrow.
 

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I am getting an education on Insurance. Are you aware of state minimuns. That's the minimum amount of insurance you are required to carry on a car. In Connecticut its 20/40/10 that works out to a max payout of 20K for any one person injured. A total of 40k for all injuries for the incident and 10k max payout on property. So if a 25 yr old kid with the minimum totals your Shelby and he has no assets, the most an insurance will pay is 10K. Its it up to you to go after him personally (good luck) or involve your insurance. Heaven forbid if he kills you thats 20K. I think the states should be held accountable for these rediculous mins. I found this out the hard way My father in-law was struck and killed by a 25 yr old while walking accross a street. Yep you guessed it the insurance company wrote a check for 20k and passed along their condolences, they are done. 25 yr old kid no assets. Minimal income. Tough way to go. Our family is left in termoil with very little compensation for a horendous act.
No amount of money could undo this but it would have helped clean up the mess

LLoyd
Sorry to hear about the loss of your father-inlaw . My condolences to your's and your wife's family .

Such a tragic loss made even worse by the lack of insurance compensation by the driver. Unfortunately here in CT there is a growing number of either uninsured or poorly insured motorist's.
Many are illegal or just too young to afford better insurance.
 

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Discussion Starter #11
Thanks for the kind words. I guess we all end up paying for the few that know how to work the system
LLoyd
 

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I guess we all end up paying for the few that know how to work the system
Ah, the new American Way.

Sorry for your loss. Hate to hear it. I lost my father over 5 years ago. I know what you're going through.
 
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