For some reason, Shelter lets me have higher UM/UIM than my liability limits. I always say in these threads that I want the highest UM/UIM I can get in case someone hits me and injures me badly. I have $1M max from the car insurance and the $1M UM/UIM addon for the umbrella.FYI (if you're not already aware)...with auto policies, you typically can't have your uninsured limit be higher than your BI/PD (bodily injury and property damage) liability limit. So be on the lookout for that. The conundrum there is that increasing your BI/PD liability limit above the minimum amount required by your umbrella is kind of a waste...due to the fact that the umbrella already provides you with a large liability limit. You would be increasing it above that minimum simply to be able to also increase your uninsured limit. The alternative would be to add uninsured coverage to your umbrella (if you have that option).
I don't think my umbrella extends to uninsured / under-insured - but good point to check. I'll probably bump up to $2-3M, and increase uninsured coverage. Probably higher once my kids start driving. Maybe I'll start a new thread so I don't jack this one.
The good news is my friend works for a company with good disability coverage. But it was a pretty big fight. Long term, who knows.
I kind of feel like my uninsured/underinsured coverage (250/500 limit) is too low. It's not that difficult to imagine scenarios where I'm going to be out a lot more money than that over a number of years if I get really injured by another driver...even if my medical insurance pays for what they're supposed to. I'm leaning toward buying the uninsured add-on for my umbrella.
Statistics: Posted by cubs1999 — Sun Oct 13, 2024 11:30 pm — Replies 31 — Views 2453