So, Über and Lyft want to keep their insurance policies secret, which raises a lot of questions in my mind. Like, what are they hiding? And specifically, what is covered by the policy? Is it only the driver, or are the passengers covered too? Seems like we should be allowed to know the answers.
Go now and find out how much uninsured motorists coverage you carry on your insurance policy. We will wait for you here. Yes, its that important. Go on.
Do you have uninsured motorists coverage in your auto policy? Do you also have it in your umbrella policy? What are the limits? Considering that almost 15% of drivers carry no insurance and many more do not carry enough insurance, do you have high enough limits?
I saw a political cartoon a few years back that wondered what other industries would look like if they operated the same way out health insurance system does. “You want to join our gym? OK. However, our data suggests you might actually use the equipment, so you cannot be a member here.”
We all know that health insurance companies exist for one reason and one reason only: to make a profit. And they seem to be doing quite well at that. One of the ways they recoup funds is through a process called subrogation, which is just a fancy word for “pay back.” If health insurance pays money for you to go to the doctor, and if it is someone else’s fault you had to go to the doctor – because you were in a car crash or were injured by a defective product – the health insurance company generally has the right to be repaid out of any settlement or recovery you make.
Currently, Senate Bill 293 seeks to end this practice as it relates to wrongful death claims only, but not injuries, such as amputations or quadriplegia. Certainly a step in the right direction. A baby step, but a step nonetheless.
What does this mean to you:
Ask your insurance agent or your attorney whether your auto policy covers your family members when you are driving, or if it contains an intrafamily exclusion. You need to know that your own family is protected in case of an accident, not just other people in the wreck.