I am trying to lower my car insurance cost and wanted to ask you all a couple of questions
1. I currently have 100/300/100 liability coverage. Do you all think this is too high or too low or good?
2. I am considering dropping uninsured motorist coverage but had a question.
I know my med insurance will cover my health cost if I get hit by a uninsured motorist (Or a hit and run) but will my car insurance cover the cost of replacing my car, if I do not have this? Will I be on the hook for the whole replacement car or just my normal collision deductible?
Thanks!
1. Please, don't go lower than this. I'd bet you won't save $50-$100 a year by lowering those limits, and that increases the risk of you being out of pocket a substantial amount of money if a large loss happens
2. Your collision coverage
could pick up the damages, you'd still be out your deductible (which they'd try to subrogate from the at fault driver). Double check that with your agent.
Personally, I wouldn't recommend anything less than 100/300/100, and for the price of UM/UIM coverages, I'd keep those too. But then again, I'm an insurance guy, and I handled subrogation on uninsured and underinsured car accidents.