Beware: I worked in the insurance industry for 20 years and the reason they are fighting this bill is because they are shortchanging consumers now. Most insurance companies do not want to provide uninsured or underinsured coverage at all. Most peoples limits for these coverages are less than their own limits–WHY!! because the insurance companies know that the chance of a loss is high—and they want the consumer to bear that risk. Even is rates go up–which the Insurance Commissioner must approve and he is voted into office—you need this coverage in order to be properly protected. Also,what people do not know is that the insurance industry is raking in the dough for auto insurance in Georgia.
The real changes that need to be made are higher deductibles for all. No one should have less than a $2500 physical damage deductible. That makes more sense than limiting someone\’s coverage in time of need.
I sure hope you don\’t get elected as a Commissioner of Insurance.
If no one should have less than a $2,500 deductible for physical damange, 70% of all vehicles on the road would look like junk heaps while they try to find the money form their already taxed paychecks to meet the deductible. 20% would most likely be totally unsafe to be driving, but what should the owner do if he needs to go to work to feed his family?
Who has a spare $2,500 lying around for a deductible on physical damage? Not Me – if you do, perhaps you should insure yourself & save your insurance premiums!
Take a reality pill while you are at it too, because I guarantee that you are not living in the reqal world thinking $2,500 is a good minimum deductible!
Yup. The deductible needs to be in line with what the insured can handle at the time of loss. If you have the bucks a $5000 (three 0s) deductible makes more sense. The problem with that is that 40% of cars are worth less than that. But I guess we could make everyone buy a new car.
The problem with elitists is that they are seldom in touch with reality.
I\’m a Texas insurance agent, 35 years.
As a person who works for the rights of those injured in accidents, I wonder why there is even any discussion concerning this issue.
It seems that people who have the UM/UIM insurance have it for a reason – so they can use it in the event they have a damaging accident.
currently, Georgia motorists only have to have $25,000 in coverage. If a person is injured in an accident, it doesn\’t take much for the $25,000 to be eaten up with medical bills. What about pain and suffering? What about the affects these major accidents have on the future of those involved – especially the innocent bistanders!
CEG, you are on the right track.
But you can stay with the hard costs, medical, loss of income, rehab. and pass the $25,000 real fast.
On a broken leg, doctor and hospital will run at least $18,000. Add to that lost income…more time if the person cannot work with a cast on his leg, and you\’ll pass the $25,000 like it was parked.
The proposed GA UM change would allow the not-at-fault party\’s Under-Insured Motorist to pay in addition to the at-fault $25k and possibly pay the whole bill.
The alternative is to increase the required insurance limit to $1,000,000. But then, the most expensive car accident I know of ran $50 million, so a $1 mil limit wouldn\’t even be a good down payment.
I just hope that Karen Kraus never gets elected for anything other than table sitter at the old folks home… or worlds best grandma for her grandkids.
Hal, I\’m with you! CEG, you make a great point too!
But… unless the insured drivers are purchasing the coverage & increasing their limits to be better in-line with the real values of property & possible BI costs per person, have health insurance with a decent deductible & Max out of pocket per person, I would suggest that they write thir lawmakers & demand that the State required limits be increased, or let them know they plan to move to Texas!!!
I think this is just another action that supports drivers who drive uninsured and who carry minimum limits. What about stiffer penalties pointed at them v. the tap on the hand when they are caught. The people who drive without insurance expose us all and are the very reason why you need the um coverage in the first place.
The vast majority of the uninsured are short-term uninsured. They are unemployed for a while or sick, can\’t pay the premium – coverage lapses. They get past the current crisis, then get new insurance.
For the most part these are short enough durations that there is not enough time for \”prosecution\”.
There are a few people that are dead set against complying with any law, but these make up a small percentage of the uninsured.
You could shoot them. At one time in Uganda the police had the authority to sumarily execute some offenders. Is this what you have in mind?
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Beware: I worked in the insurance industry for 20 years and the reason they are fighting this bill is because they are shortchanging consumers now. Most insurance companies do not want to provide uninsured or underinsured coverage at all. Most peoples limits for these coverages are less than their own limits–WHY!! because the insurance companies know that the chance of a loss is high—and they want the consumer to bear that risk. Even is rates go up–which the Insurance Commissioner must approve and he is voted into office—you need this coverage in order to be properly protected. Also,what people do not know is that the insurance industry is raking in the dough for auto insurance in Georgia.
The real changes that need to be made are higher deductibles for all. No one should have less than a $2500 physical damage deductible. That makes more sense than limiting someone\’s coverage in time of need.
I sure hope you don\’t get elected as a Commissioner of Insurance.
If no one should have less than a $2,500 deductible for physical damange, 70% of all vehicles on the road would look like junk heaps while they try to find the money form their already taxed paychecks to meet the deductible. 20% would most likely be totally unsafe to be driving, but what should the owner do if he needs to go to work to feed his family?
Who has a spare $2,500 lying around for a deductible on physical damage? Not Me – if you do, perhaps you should insure yourself & save your insurance premiums!
Take a reality pill while you are at it too, because I guarantee that you are not living in the reqal world thinking $2,500 is a good minimum deductible!
Yup. The deductible needs to be in line with what the insured can handle at the time of loss. If you have the bucks a $5000 (three 0s) deductible makes more sense. The problem with that is that 40% of cars are worth less than that. But I guess we could make everyone buy a new car.
The problem with elitists is that they are seldom in touch with reality.
I\’m a Texas insurance agent, 35 years.
As a person who works for the rights of those injured in accidents, I wonder why there is even any discussion concerning this issue.
It seems that people who have the UM/UIM insurance have it for a reason – so they can use it in the event they have a damaging accident.
currently, Georgia motorists only have to have $25,000 in coverage. If a person is injured in an accident, it doesn\’t take much for the $25,000 to be eaten up with medical bills. What about pain and suffering? What about the affects these major accidents have on the future of those involved – especially the innocent bistanders!
CEG, you are on the right track.
But you can stay with the hard costs, medical, loss of income, rehab. and pass the $25,000 real fast.
On a broken leg, doctor and hospital will run at least $18,000. Add to that lost income…more time if the person cannot work with a cast on his leg, and you\’ll pass the $25,000 like it was parked.
The proposed GA UM change would allow the not-at-fault party\’s Under-Insured Motorist to pay in addition to the at-fault $25k and possibly pay the whole bill.
The alternative is to increase the required insurance limit to $1,000,000. But then, the most expensive car accident I know of ran $50 million, so a $1 mil limit wouldn\’t even be a good down payment.
I just hope that Karen Kraus never gets elected for anything other than table sitter at the old folks home… or worlds best grandma for her grandkids.
Hal, I\’m with you! CEG, you make a great point too!
But… unless the insured drivers are purchasing the coverage & increasing their limits to be better in-line with the real values of property & possible BI costs per person, have health insurance with a decent deductible & Max out of pocket per person, I would suggest that they write thir lawmakers & demand that the State required limits be increased, or let them know they plan to move to Texas!!!
HEHEHEHEHEHEHEHEHEHEHE
I think this is just another action that supports drivers who drive uninsured and who carry minimum limits. What about stiffer penalties pointed at them v. the tap on the hand when they are caught. The people who drive without insurance expose us all and are the very reason why you need the um coverage in the first place.
The vast majority of the uninsured are short-term uninsured. They are unemployed for a while or sick, can\’t pay the premium – coverage lapses. They get past the current crisis, then get new insurance.
For the most part these are short enough durations that there is not enough time for \”prosecution\”.
There are a few people that are dead set against complying with any law, but these make up a small percentage of the uninsured.
You could shoot them. At one time in Uganda the police had the authority to sumarily execute some offenders. Is this what you have in mind?