What this law really does is ensure that accident victims will get less for their injury claims. It will also cause the cost of UM coverage to go up. People will forgoe buying UM coverage and will wind up being screwed when they get hurt by someone with low limits.
$25,000 doesn’t buy much protection these days. Smart plaintiff’s lawyers will use lower limits to set carriers up for bad faith for rejecting low policy limit demands.
Last time I checked North Carolina had some of the higher limits around at 30/60/25. And I still feel that the minimum BI limits aren’t really all that sufficient considering medical costs nowadays.
The problem lies with a lack of understanding about liability insurance and what it does.
Liability insurance protects the assets of the purchaser. A qualified insurance professional will work with a client to purchase limits appropriate to the individual needs of the client. The qualified insurance professional will also recommend limits for uninsured and underinsured motorist coverage in this case.
It is very presumptuous of a government to assume that a limit would apply to everyone equally and any amount they would set is completely arbitrary.
We have a client here in Chicago who could not retire when he so desired as he caused an accident with sever bodily injuries, and did not have enough limits to cover of the person he hit. His wages were being garnished for several years. He got smart and increased his limits a little to late in the game but he is wise up for the better.
Anyone driving around with less the 100/300/100 is just asking for trouble. In this day and age 100/300/100 sometimes is not enough. Especially with the ambulance chasers out there in this world.
Here in Chicago the lowest limit I believe the are 50/40/20 – I say YIKES!
Has the cost of a vehicle gone down? Has the cost of medical treatment gone down? Has the cost of litigation gone down? Has the cost of our personal assets gone down? I haven’t seen that happen in the west so why are the required limits going down? This doesn’t make sense to me.
Would you rather they drive around with ZERO coverage because they can’t afford a premium for 100/300/50 coverage? Or would you rather allow them the 25/50 and know that if they hit you that you’d at least get *something* rather than nothing and hope to God you can garnish their wages for the rest of their life. Most of us reputable, educated agents are recommending 100/300 and even 250/500 because it doesn’t take much of an accident to clear $25k, but some people simply canNOT afford that right now.
don’t give me that. most people spend twice as much on their cell phone service than they do their auto insurance. what the insurance companies will do is offer the lower limits for the same price. with a clean driving record I sell people ins all the time with great limits for around $20 a month. (500/500/100bi/pd 100/300 uim/um and 10k med)
Kristine, you do have a valid point. Insurance is expensive and it is a privilege to drive. Not a given right. And yes, something is better then nothing. I hope these people realize the ramifications of their driving habits and take caution.
come on down to Florida folks. The mandatory BI limit? None!! That’s right. you just need $10k in PD liability and you’re good to go. Of course, don’t have an accident that causes BI without BI because THAT is illegal.
Yup. you can drive without BI coverage, you just can’t have an accident that results in BI without BI coverage. And we wonder why people laugh at us??
Our agency won’t write anyone without at least 25/50. I can’t understand how any agent would write a policy without BI.
Wow…in CA, our limits are 15/30/5…..we need to INCREASE the minimums here!
What this law really does is ensure that accident victims will get less for their injury claims. It will also cause the cost of UM coverage to go up. People will forgoe buying UM coverage and will wind up being screwed when they get hurt by someone with low limits.
$25,000 doesn’t buy much protection these days. Smart plaintiff’s lawyers will use lower limits to set carriers up for bad faith for rejecting low policy limit demands.
Last time I checked North Carolina had some of the higher limits around at 30/60/25. And I still feel that the minimum BI limits aren’t really all that sufficient considering medical costs nowadays.
At least Canada has common sense as they are required to have 100/300.
Why is it I must protect myself from your mistakes while I am protecting myself for my errors?
Any legislator that voted for this needs to be replaced!
The problem lies with a lack of understanding about liability insurance and what it does.
Liability insurance protects the assets of the purchaser. A qualified insurance professional will work with a client to purchase limits appropriate to the individual needs of the client. The qualified insurance professional will also recommend limits for uninsured and underinsured motorist coverage in this case.
It is very presumptuous of a government to assume that a limit would apply to everyone equally and any amount they would set is completely arbitrary.
We have a client here in Chicago who could not retire when he so desired as he caused an accident with sever bodily injuries, and did not have enough limits to cover of the person he hit. His wages were being garnished for several years. He got smart and increased his limits a little to late in the game but he is wise up for the better.
Anyone driving around with less the 100/300/100 is just asking for trouble. In this day and age 100/300/100 sometimes is not enough. Especially with the ambulance chasers out there in this world.
Here in Chicago the lowest limit I believe the are 50/40/20 – I say YIKES!
Has the cost of a vehicle gone down? Has the cost of medical treatment gone down? Has the cost of litigation gone down? Has the cost of our personal assets gone down? I haven’t seen that happen in the west so why are the required limits going down? This doesn’t make sense to me.
Would you rather they drive around with ZERO coverage because they can’t afford a premium for 100/300/50 coverage? Or would you rather allow them the 25/50 and know that if they hit you that you’d at least get *something* rather than nothing and hope to God you can garnish their wages for the rest of their life. Most of us reputable, educated agents are recommending 100/300 and even 250/500 because it doesn’t take much of an accident to clear $25k, but some people simply canNOT afford that right now.
don’t give me that. most people spend twice as much on their cell phone service than they do their auto insurance. what the insurance companies will do is offer the lower limits for the same price. with a clean driving record I sell people ins all the time with great limits for around $20 a month. (500/500/100bi/pd 100/300 uim/um and 10k med)
Kristine, you do have a valid point. Insurance is expensive and it is a privilege to drive. Not a given right. And yes, something is better then nothing. I hope these people realize the ramifications of their driving habits and take caution.
come on down to Florida folks. The mandatory BI limit? None!! That’s right. you just need $10k in PD liability and you’re good to go. Of course, don’t have an accident that causes BI without BI because THAT is illegal.
Yup. you can drive without BI coverage, you just can’t have an accident that results in BI without BI coverage. And we wonder why people laugh at us??
Our agency won’t write anyone without at least 25/50. I can’t understand how any agent would write a policy without BI.