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Post by jimroberts on Jul 20, 2012 10:23:43 GMT -5
I have $25,000 uninsured motorist (non stacked) on my motorcycle policy with Progressive and a very high stacked UM coverage on my auto policy (State Farm). My wife has done some research and thinks we should cancel the UM on the motorcycle policy to ensure the stacked auto coverage would apply to the motorcycle. .
Is this correct?
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Post by kbikerider on Jul 20, 2012 10:32:20 GMT -5
I have $25,000 insured motorist (non stacked) on my motorcycle policy with Progressive and a very high stacked UM coverage on my auto policy (State Farm). My wife has done some research and thinks we should cancel the UM on the motorcycle policy to ensure the stacked auto coverage would apply to the motorcycle. . Is this correct? Jim, depends if the companies cooperate. Some do and some don't. If they do, you can save a lot on the um of your MC policy. Check with State Farm to see if they will extend coverage. Some agents are very familiar with this and others have not a clue. Good Luck.
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Post by Deleted on Jul 20, 2012 16:12:39 GMT -5
Can't specifically answer your question but here is the theory I operate under. Make sure your assets are invested in qualified accounts and/or judgement proof assets. Title property in such a way as to make them free from the claims of creditors and judgements. Then, maintain as little insurance as possible so as to DISCOURAGE an attorney looking for a big payday, from taking the case. People who like to sue, don't want to have to pay by the hour....
For you attorneys out there... sorry, but it is what it is.....
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Post by Deleted on Jul 22, 2012 10:02:03 GMT -5
Can't specifically answer your question but here is the theory I operate under. Make sure your assets are invested in qualified accounts and/or judgement proof assets. Title property in such a way as to make them free from the claims of creditors and judgements. Then, maintain as little insurance as possible so as to DISCOURAGE an attorney looking for a big payday, from taking the case. People who like to sue, don't want to have to pay by the hour.... For you attorneys out there... sorry, but it is what it is..... Stealthy in more areas than speed I see!
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Post by Deleted on Jul 30, 2012 12:11:51 GMT -5
Sounds like a great strategy. I'd like to learn more...
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