Any insurance experts out there?

[TilliamWe]

Re: Any insurance experts out there?

I was not attacking you Bob, I was pointing out that your state is nuts.

And thanks for the link. The concept i am trying to explain is explained in the first sentence and then in the first paragraph of the next section. Where it says that a hit an run driver that leaves the scene can be considered uninsured, but that he has to be IDENTIFIED! Now I am attacking you. It's a simple concept, you even read it, so why are you questioning me?

Insurance does indeed vary from state to state. But to call an unknown vehicle strike and "Uninsured Motorist" claim is just insane. So I stand corrected, JB's right this coverage can vary. But it shouldn't.

So best of luck to you, maybe MN will have crazy laws that let the unknown be classified as uninsured?

 

[Bob_VT]

Re: Any insurance experts out there?

I think you are reading that statement the wrong way (or interpreting it the wrong way).

"The next category consists of hit and run (vehicular) drivers. When an individual flees the scene of an accident without leaving sufficient information to identify him or herself, the individual is considered uninsured for the purposes of an uninsured motorist provision. Note, however, that a positive ID of the license plates in a hit and run accident will often be considered by insurance companies sufficient information to identify the negligent hit and run driver. Such identification will often lead to the denial of an uninsured motorist claim, as insurance companies will often litigate the claim, bringing in the registered owner of the vehicle with matching plates, even where that person denies involvement in the accident."

My comprehension of the above is if the individual remains unknown then the Uninsured Motorist is in play.... If there is any identification then the standard Collision Coverage would be in play.

I realize you "appraise" damages for a living however appraisal does alone not equal the determining factor of which part of the insurance coverage is applied.

While Vermont does not require the Uninsured Motorist it is offered and I have that coverage on all my vehicles.

So what's next ???? Want to arm wrestle

 

[tommays]

Re: Any insurance experts out there?

Well

This is the way it works here on hit and runs its better when they run

1. Hit by car on bicycle left laying on road my car unisured covers my medical and bicycle dammage

2. Hit and run left laying on road BUT get up and chase down driver who gets arrested for leaving the seen and pleads NOT GUILTY

BEST of luck trying to collect when the client has plead NOT GUILTY it takes a really LONG TIME

 

[Knightgang]

Re: Any insurance experts out there?

The way an agent in GA explained it to me once is like this...

Liability Coverage - Coverage used to repair someone elses car when you are at fault...

Collision Coverage - Used to repair your car when you are at fault...

Comprehensive - Coverage used to repair your car when damage caused by other than an accident (hit animals, tree calls on it, storm damamge, vandilism, theft, etc.)

UnInsured Motorist - To repair your car when other motorist is at fault and has no insurance OR cannot be identified...

Like I said, this explanation was in GA, may vary by state...

But, you can bet I will read Ins Policies very closly from now on and be sure that I understand how they will treat above situations...

 

[TilliamWe]

Re: Any insurance experts out there?

UnInsured Motorist - To repair your car when other motorist is at fault and has no insurance OR cannot be identified...

Like I said, this explanation was in GA, may vary by state......

That is INSANE.
It's also not accurate. Your collision coverage is there to pay for damage caused by a collsion, regardless of fault. Plenty of damage has been paid by one's collision when the other party is at fault. If the other party has insurance, the process of your carrier re-couping their payment is called subrogation.

I was in training for 3 months learning the basic concepts of insurance, and then spent 10 years applying them in the state of Illinois, Ohio, Iowa, and Kentucky (but mainly Illinois). In none of those states does Uninsured Motorist coverage work like you guys think it does in your states.

I am still stunned that a group of state politicians and/or courts couls think for a second that an Unidentified Party is automatically an Uninsured Party. Where is the proof of their insured status? There isn't any. So how can you call that party anything other than Unidentified?
Wait, I know, it was politicians and/or Judges that decided this. Now I do understand why it's not logical!

 

[Bob_VT]

Re: Any insurance experts out there?

LOL Our politicians and judges don't make the insurance particulars .....just mandated minimums here in VT. They could care less if you have collision or comp.......

 

[strokeoluck]

Re: Any insurance experts out there?

Hi guys, for any of you that were following this thread and wondering how it worked out...my insurance company said it would indeed fall under the "Collision" coverage - I had to cover the deductible.

 

[TilliamWe]

Re: Any insurance experts out there?

Hope it was worth it for you.