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Started By
Message
Is most of Louisiana underinsured and what is a reasonable limit?
Posted on 8/20/23 at 7:56 pm
Posted on 8/20/23 at 7:56 pm
I was discussing SF raising my rates last week and a few people I know made comments about how expensive their rates are.
I said I was shopping insurance and they mentioned their limits are 25/50. Property was either 25 or 50. I was kind of shocked because I felt this was considered underinsured considering how much cars are these days. How litigious LA is.
I talked to my Agent this week. He said the vast majority of LA policies are the legal limit and majority fall in the 25/50 range for my area (Jeff Davis).
I'm no millionaire but I felt this was underinsured. But then again, maybe I'm the sucker.
What happens to the people who get in wrecks and are underinsured? Do they get liens placed against their property if a judgement is pursued or do the attorneys not even bother?
I'm reconsidering dropping my limits drastically.
I said I was shopping insurance and they mentioned their limits are 25/50. Property was either 25 or 50. I was kind of shocked because I felt this was considered underinsured considering how much cars are these days. How litigious LA is.
I talked to my Agent this week. He said the vast majority of LA policies are the legal limit and majority fall in the 25/50 range for my area (Jeff Davis).
I'm no millionaire but I felt this was underinsured. But then again, maybe I'm the sucker.
What happens to the people who get in wrecks and are underinsured? Do they get liens placed against their property if a judgement is pursued or do the attorneys not even bother?
I'm reconsidering dropping my limits drastically.
17
Posted on 8/20/23 at 7:58 pm to DiamondDog
quote:
What happens to the people who get in wrecks and are underinsured?
That's why you have uninsured/underinsured motorist.
Also, in theory most people are underinsured as you can't hit a school bus full of kids and think any realistic coverage would cover it. My parents had like a 2 million umbrella so maybe they could weather it, but that's what a combined 70 years in the insurance industry gets ya.
This post was edited on 8/20/23 at 8:02 pm
Posted on 8/20/23 at 8:01 pm to DiamondDog
quote:
Do they get liens placed against their property if a judgement is pursued or do the attorneys not even bother?
Attorneys don't take cases for the moral victory. If there isn't a readily available pot of gold at the end of the rainbow, they aren't taking the case.
Posted on 8/20/23 at 8:02 pm to Jcorye1
quote:
That's why you have uninsured/underinsured motorist.
Yep. You’re a fool if you don’t carry UMI
Posted on 8/20/23 at 8:04 pm to DiamondDog
15/30/25 is min auto liability limits in Louisiana, an increase from 10/20/10. WAG is 30% of Louisiana drivers have no insurance, try getting a judgement against an uninsured or underinsured driver and see how that goes.
Now, hit me or mine with min limits and a solid job and I will make your life a living hell.
Now, hit me or mine with min limits and a solid job and I will make your life a living hell.
Posted on 8/20/23 at 8:04 pm to financetiger38
So the point is that basically catastrophic wreck means most cases I'm having to make a claim against my insurance because the defendant is underinsured.
Seems whack on the surface.
Seems whack on the surface.
Posted on 8/20/23 at 8:05 pm to DiamondDog
quote:
Do they get liens placed against their property i
You can’t get a lien on property for a personal injury lawsuit. You can garnish wages and put a lien against any sort of windfall like if they won the lottery.
Everyone that can afford it should have under insured policy on their own car insurance. I have 100K.
This post was edited on 8/20/23 at 8:08 pm
Posted on 8/20/23 at 8:07 pm to KemoSabe65
quote:
try getting a judgement against an uninsured or underinsured driver and see how that goes.
So basically no repercussions for those people is my point or at least the point I'm attempting to make.
Posted on 8/20/23 at 8:07 pm to DiamondDog
quote:
Jeff Davis
I live here. My personal advice is that you shouldn’t measure your anything with what’s going on in this parish. Love it here, love the people, love my family. I’ll do what’s right for me. 50k doesn’t hardly cover a totaled base model pickup anymore.
Posted on 8/20/23 at 8:07 pm to DiamondDog
Lol my limits are 250/500 plus I have a million dollar umbrella
Posted on 8/20/23 at 8:09 pm to DiamondDog
Being uninsured or underinsured should result in forfeiture of the vehicle and loss of license for at least a year
This is the 1 time I support civil asset forfeiture
This is the 1 time I support civil asset forfeiture
Posted on 8/20/23 at 8:09 pm to Cosmo
Good for you. I have 500/500/500 with 1M umbrella. Not the point I'm asking.
Seems like we're the pot of gold and 97% of LA is the leprechauns.
Seems like we're the pot of gold and 97% of LA is the leprechauns.
Posted on 8/20/23 at 8:11 pm to DiamondDog
We have 50/100. About to bump that up.
We are about to get a car for my son and SF is going to hit us for $500 a month. Feels like rape
We are about to get a car for my son and SF is going to hit us for $500 a month. Feels like rape
Posted on 8/20/23 at 8:12 pm to DiamondDog
Yeah it sucks that you have to cover your own arse because of irresponsible people but that’s just how it is. If you want to chance someone carrying the minimums rear ending you and totaling your car while sending you to the hospital and absolutely fricking you financially (you can sue them personally but good luck with ever seeing anything meaningful from that) then go ahead and not carry UMI. If you want peace of mind and to be guaranteed that you’re covered for like $10/month extra then carry it.
Posted on 8/20/23 at 8:12 pm to Cosmo
quote:
plus I have a million dollar umbrella
Unless you have over 250K cash sitting in the bank umbrella policies are overkill. You can’t take someone’s personal property, 401K or other retirement I. A personal injury case. It’s also very tough to hit that secondary policy. Insurance companies fight to not hit the umbrella.
The umbrella itself isn’t all that expensive but maxing out tge first policy is where they get you.
Posted on 8/20/23 at 8:14 pm to notiger1997
quote:
We have 50/100. About to bump that up. We are about to get a car for my son and SF is going to hit us for $500 a month. Feels like rape
State Farm is probably the least kind company to young drivers. I would shop around for his if I were you. Even if you don’t swap your vehicles over I’d still get your son covered elsewhere and make sure you don’t allow him to drive any of the vehicles at SF if you end up keeping yours there.
Posted on 8/20/23 at 8:16 pm to DiamondDog
Yep, many only want the I D card and cancel for non pay prior to the first payment. Da Genral and others send out ID cards only after payment monthly, their $ is in the finance charge paid up front so they DGAF if it cancels.
Cleo filed suit when the state started impounding cars without insurance since it was waycist. Now they put the sticker in the back glass to let erryone know the car is driving without insurance.
Cleo filed suit when the state started impounding cars without insurance since it was waycist. Now they put the sticker in the back glass to let erryone know the car is driving without insurance.
Posted on 8/20/23 at 8:17 pm to financetiger38
We checked two random companies for an online quote and they were more. LOL
Even been bundled with SF for over 20 years and they’ve been good to us and haven’t pulled any stupidity with raising our house insurance rates, but this is hard to stomach.
More research will be done this week
Even been bundled with SF for over 20 years and they’ve been good to us and haven’t pulled any stupidity with raising our house insurance rates, but this is hard to stomach.
More research will be done this week
Posted on 8/20/23 at 8:20 pm to KemoSabe65
quote:
Now, hit me or mine with min limits and a solid job and I will make your life a living hell.
Working man loses again.
Posted on 8/20/23 at 8:22 pm to KemoSabe65
quote:
Cleo filed suit when the state started impounding cars without insurance since it was waycist.
Pisses me off.
So what do other states do to enforce insurance requirements so much better than us?
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