AUTO POLICY LIMITS

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Wed Jan 20, 2010 7:32 am   Post subject: AUTO POLICY LIMITS  

Are they the same for all carriers? I was involved in head on collision other driver at fault. His insurance carrier (AAA) so far has had to pay the cost of his vehicle (totalled 2009 Toyota Corolla, his medical bills three days in hospital for broken ribs and chest pain and the settlement of my vehicle 2009 dodge journey $24k)



My attorney said his insurance carrier has not given the limits to him.



So far my medical bills at currently at $15k, car rental $1100, settlement cost of my totalled vehicle $24k.



I am wondering what his bodily injury limit might be at? He is 74yrs old



I suffered a fractured wrist, cracked sternum, soft tissue injuries to my neck, right shoulder and right knee. My wrist is still in a cast and I am due to have a MRI on my shoulder.



What happens if my medical damages exceed his bodily injury limit?


_________________
Register Now to have your Insurance queries solved.
STILLINPAIN
Guest







PostPosted: Wed Jan 20, 2010 1:00 pm   Post subject:   

Quote:
Are they the same for all carriers?
No they differ between policys the insured, just like when you bought your policy, choses their limits..



What you aren't understanding (I think) is each coverage has it's own limits. ie his collision coverage paid for his vehicle and has nothing to do with any other limits. His PD limits paid for your vehicle so those limits were apparently high enough to pay for your vehicle

His medical bills are paid under either medpay or pip, and those limits have nothing to do with your injury..
Quote:
My attorney said his insurance carrier has not given the limits to him.
I'll bet they haven't and they probably won't. I wouldn't..most states don't require this disclosure
Quote:
..So far my medical bills at currently at $15k
These will considered under his Bodily Injury coverage ONLY..
Quote:
car rental $1100, settlement cost of my totalled vehicle $24k.
This will be under his PD limits only..Have they not settled your total loss on your car yet? if not why not? have you presented it to your carrier?
Quote:
What happens if my medical damages exceed his bodily injury limit?
His limits are all his carrier can offer..period...and they won't give you those without a release or court order. Do you have UIM on your own policy?


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Wed Jan 20, 2010 1:21 pm   Post subject:   

This accident has taught me alot abot limits and how to cover yourself. I HAD the minimum required by state but have since increased being a homeowner and all. My property damage was at 10k, I didnt see UIM on my policy so I am worried.



Example of auto limits from Progressive

25k person

50k accident

10k property



next option

25k person

50k accident

25k property



next option

50k person

100k accident

25k property



next option

50k person

100k accident

50k property



Are those listed above standard examples from all insurance carriers?


_________________
Register Now to have your Insurance queries solved.
stillinpain
Guest







PostPosted: Wed Jan 20, 2010 1:45 pm   Post subject:   

Pretty much...but you can get higher limits too...I personally carry 100k PD and 250/500 bi and um...course there are other coverages available too...ie MP, UIM, UMPD, and so on



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Wed Jan 20, 2010 1:48 pm   Post subject:   

Those are typical limits but there is no such think as "standard". Many people have 100/300/100 or more. Many carriers will write just about any limits, usually in 5k, 10k, 25k or 100k increments. Each carrier is a little bit different.

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 6000

Location: Salt Lake City, UT
360.79 Dollars($)

PostPosted: Wed Jan 20, 2010 1:55 pm   Post subject:   

The only 'standard' is that they cannot write lower that the state requirement.



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Fri Jan 22, 2010 10:49 am   Post subject: Policy limits  

If your medical expenses exceeds the bodily injury limits of the other you can settle for the underinsured motorist claim.


_________________
Register Now to have your Insurance queries solved.
scarlett
Guest







All times are GMT
Page 1 of 1


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 3.888 seconds.