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[ultrafxr]

Under insured motorist is another coverage. 

I'm in state 6 for most uninsured motorists.  We have a very high percentage of under insured also.  Most people that do get insurance get the bare minimum coverage.  That coverage would not cover the replacement of a CVO if they were at fault and totaled your bike.

And it is common to get it just in time to renew registration, put premium on monthly pay and let coverage lapse after first month.


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[Road Dad]

Never had an insurance claim in my life. Don't plan on one either. Think I have my deductible around $1 to $2K. Insurance for my bikes are dirt cheap.

It's a contract, now your rights. Shop insurance every three years. If your agent can't compete switch. But know what you are buying.

[greglyon]

I am sure what I am saying is controversial . . . but I do not carry UM on any of my vehicles.  Why?  Because it is so expensive.  What happens if another party with no or limited coverage damages your vehicle and maybe causes bodily injury?

If you have collision coverage you policy will pay to repair / replace your vehicle.  Of course it will be considered a 'chargeable accident' and you will have to pay the deductible - same as if you were at fault.  If your insurance company has to pay they will gig you no doubt.  I cannot speak with authority about the laws in every state especially those with no fault laws so you will need to check on that.  My state (and most others I think) require UM coverage unless you specifically reject it in writing.  The insurance company has a form for that so I guess I am not alone in my decision.

As for bodily injury if you have good medical coverage then your plan will pay.  In case of serious injury you will have no one to sue for damages above actual medical care since the at fault party with no or limited insurance most likely has few if any assets.

So while it is taking a risk I consider it a risk worth taking.  Over the course of many years I've saved countless $$ in premium and thankfully have never had an instance where I would have needed UM coverage.

You are in essence self insured for loss of income or permanent disability which would be covered by um or uim coverage but not under your medical plan.

[ultrafxr]

You are in essence self insured for loss of income or permanent disability which would be covered by um or uim coverage but not under your medical plan.

Exactly.  But since I'm semi-retired the majority of my income is not at risk.  Someone who is heavily dependent on work to generate current income would need to weigh the risk / reward carefully.  If they had or could get acceptable disability insurance that could mitigate the risk of having no UM / UIM coverage.

[greglyon]

Exactly.  But since I'm semi-retired the majority of my income is not at risk.  Someone who is heavily dependent on work to generate current income would need to weigh the risk / reward carefully.  If they had or could get acceptable disability insurance that could mitigate the risk of having no UM / UIM coverage.

Sounds like you have carefully analyzed the risk and made a thoughtful decision for you and your family.  I would urge others to do the same thing.