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Auto Insurance Coverage Opinions/Experiences
Posted on 9/23/23 at 9:25 am
Posted on 9/23/23 at 9:25 am
Louisiana minimum insurance is 15/30/25. That ($25,000/accident) seems really low to me now with the recent inflation of car prices and I've got to think it doesn't take much to run up the medical bills beyond $15,000 per person/$30,000 per accident.
Do any of y'all have experience with being at fault with not enough coverage or the driver at fault not having enough coverage?
Trying to gauge the risks of an attorney coming after me or needing an attorney to go after someone else.
I'm in my 50s and, knock on wood, have never had a serious crash.
Do any of y'all have experience with being at fault with not enough coverage or the driver at fault not having enough coverage?
Trying to gauge the risks of an attorney coming after me or needing an attorney to go after someone else.
I'm in my 50s and, knock on wood, have never had a serious crash.
5
Posted on 9/23/23 at 9:32 am to RougeDawg
I'd never carry state minimum in LA and this sue happy state. We carry 100/300 on all of our vehicles and I sometimes question if that's enough. Hell, a suburban costs 100k these days in some cases.
This post was edited on 9/23/23 at 9:33 am
Posted on 9/23/23 at 9:44 am to fallguy_1978
Yea, I carry a lot more too, but I'm wondering about the actual risks of not having enough or needing to a lot of uninsured. I don't know anyone who has had to defend against a lawsuit for being uninsured and it got me thinking about how hard a lawyer will pursue if you aren't rich and famous.
Posted on 9/23/23 at 10:36 am to RougeDawg
Depends on your financial status. If you're broke (i.e. judgment proof) a lawyer ain't going to come after you personally for an excess judgment above your insurance. If you have any amount of assets (which you should in your 50's), then you need to insure appropriately. Minimum coverage ain't it. I personally have 250/500 with a 1MM umbrella.
Posted on 9/23/23 at 4:23 pm to RougeDawg
It’s all fun and games until the court orders you to pay future earnings the claimant.
It’s why I will always have an umbrella on top of my auto and personal liability limit. I live in Mississippi though so the rates aren’t as bad.
It’s why I will always have an umbrella on top of my auto and personal liability limit. I live in Mississippi though so the rates aren’t as bad.
Posted on 9/23/23 at 7:53 pm to jfw3535
quote:This. As a PI lawyer, I don’t bother pursuing broke dicks beyond their policy. But if you carry the minimum while you’re a high earner, and you bang someone up pretty good, better believe you’ll be writing a big personal check.
Depends on your financial status. If you're broke (i.e. judgment proof) a lawyer ain't going to come after you personally for an excess judgment above your insurance. If you have any amount of assets (which you should in your 50's), then you need to insure appropriately. Minimum coverage ain't it. I personally have 250/500 with a 1MM umbrella.
Posted on 9/24/23 at 9:00 pm to NaturalBeam
The bigger concern for me is that if you carry too low of liability limits, you are limiting the amount of protection you can get for UM/UIM.
There are way too many insured/underinsured motorist driving around in La. So I have higher liability limits so I can have higher UM/UIM limits.
There are way too many insured/underinsured motorist driving around in La. So I have higher liability limits so I can have higher UM/UIM limits.
Posted on 9/25/23 at 5:20 pm to jfw3535
quote:
umbrella
Posted on 9/26/23 at 9:29 am to RougeDawg
I see it all the time. They’ll go after the person personally if there’s not enough coverage and can and will garnish wages in Louisiana. To bump up to 25/50/50 or 50/100/50 or 100 shouldnt be much more
Posted on 9/26/23 at 5:16 pm to RougeDawg
Most attorneys will not go after a judgment over and above the insurance limits. This is very rare because of the trouble and expense involved compared to the likelihood of collecting.
The exception is if the defendant has alot of valuable assets in which case he or she would be crazy to have a small policy.
The exception is if the defendant has alot of valuable assets in which case he or she would be crazy to have a small policy.
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