Who has 100K / 300K coverage

[kulwen]

So, I was looking at my coverage when I responded to this thread. But, it is just not making sense to me.

Here is a section of my policy:

"Uninsured Motorists Bodily Injury provides two limits of coverage. The first is the maximum amount we will pay for injury or death to any one person. The second figure is the maximum we will pay (regardless of the number of people involved) for injury or death stemming from a single occurrence."

If the limit is 100K per person, and a bike can carry two people the most that would be paid is 200K. So, why am I paying for 300K? I am told if I want a 100K per person I must take the 300K limit also.

Does this make sense to anyone?

 

[Bustanut joker]

The extra 100 K Is for administrative fees???? :dntknw:

:jester:

 

[vectervp1]

Some Rally's require this which is why I carry it. I can't really explain the 100k difference though.

 

[Auburn]

Because I carry a $1M umbrella policy, the insurance company requires that I carry $250K/$500K Bodily injury limits (insured motorist has the same limits) on all of my vehicles including the FJR. The sad thing is this sue happy world, $1M coverage may not be enough on the umbrella. Since I have a good driving record, the FJR coverage for the year is $400 for the higher limits. I think it is reasonable.

 

[Toecutter]

Edit

 

[Randy]

Because I carry a $1M umbrella policy, the insurance company requires that I carry $250K/$500K Bodily injury limits (insured motorist has the same limits) on all of my vehicles including the FJR. The sad thing is this sue happy world, $1M coverage may not be enough on the umbrella. Since I have a good driving record, the FJR coverage for the year is $400 for the higher limits. I think it is reasonable.

They told me the same thing (re: the high limites) when I got my $1M umbrella policy. Is that standard across all/most insurers?

 

[kulwen]

Because I carry a $1M umbrella policy, the insurance company requires that I carry $250K/$500K Bodily injury limits (insured motorist has the same limits) on all of my vehicles including the FJR. The sad thing is this sue happy world, $1M coverage may not be enough on the umbrella. Since I have a good driving record, the FJR coverage for the year is $400 for the higher limits. I think it is reasonable.

They required those limited on Uninsured Motorists also? I can understand those limits on bodily injury. But, if you are using the Uninsured Motorists who is going to sue you?

 

[Silver Penguin]

I can see why you wouldn't want that much coverage on your uninsured motorist policy, but it's a MINIMUM for the rest of your coverage. We have recently upped the coverage on all of our vehicles (I forget the new numbers) and added a million dollar umbrella policy.

The reason for this is what we learned after Andy's accident. The driver at fault had 100/300 coverage. I don't know what the other drivers she hit claimed. We only got $100K out of a claim for ten times that (and we had to pay out the majority of that to our health insurer and attorney. The girl had no assets, so although we would have won a lawsuit against her, a bankruptcy would ensure that we couldn't collect much.

Had the roles been reversed, since we DO have assets, we took the higher limits and the umbrella policy to protect them.

Had we not lived in CA, our $100K of uninsured motorist coverage could have been added to her company's payout, but that's not legal in CA.

Jill

 

[twodogs]

So, I was looking at my coverage when I responded to this thread. But, it is just not making sense to me.
Here is a section of my policy:

"Uninsured Motorists Bodily Injury provides two limits of coverage. The first is the maximum amount we will pay for injury or death to any one person. The second figure is the maximum we will pay (regardless of the number of people involved) for injury or death stemming from a single occurrence."

If the limit is 100K per person, and a bike can carry two people the most that would be paid is 200K. So, why am I paying for 300K? I am told if I want a 100K per person I must take the 300K limit also.

Does this make sense to anyone?

The short answer is that more than two people can occupy a motorcycle at one time. For example, an operator and one passenger getting off while another gets on.

Bill

 

[Toecutter]

For example, an operator and one passenger getting off while another gets on.

In a perfect world, all three could get off at the same time.

I'll be here all week....