[sanjuro]

I talked with my agent, and she mentioned I had $300,000 collision coverage. It seemed a little high, so I lowered it to $200,000 and I save $30.

I could have gone as low as $35,000, but I joked that is the hit-and-run level.

How much are you covered for?

 

[SkaredShtles]

You must have a *really* nice car if you have it covered for 300K for collision.

 

[jimmydean]

I have a lot and they up it for free every year (that i don't crash something). I know I only pay like $75 for two cars though.

 

[sanjuro]

You must have a *really* nice car if you have it covered for 300K for collision.

My Lamborgini Diablo? I guess...

Just curious, your collision plans don't figure if you hit someone else?

 

[SkaredShtles]

My Lamborgini Diablo? I guess...

Just curious, your collision plans don't figure if you hit someone else?

My company breaks it out:

Bodily damage
Property damage
Medical Pmts
Comprehensive
Collision

 

[Westy]

300K. I used to be only at 100K but bumped it up now that I have a little equity built up and someone could actualy take something away from me in a lawsuit.

 

[Hawkeye]

She is talking about liability.

Let me ask you something........you hit someone and break their back. Are you willing to work the rest of your life to pay off that settlement to save $30?

 

[SkaredShtles]

She is talking about liability.

Let me ask you something........you hit someone and break their back. Are you willing to work the rest of your life to pay off that settlement to save $30?

So how much is your coverage? A million dollars?

 

[mogulskr]

So how much is your coverage? A million dollars?

Actually, yes. It's not that much a year either. I have normal auto insurance 3/3/1 plus an umbrella policy up to 1 milllion.

 

[sanjuro]

She is talking about liability.

Let me ask you something........you hit someone and break their back. Are you willing to work the rest of your life to pay off that settlement to save $30?

With that logic, should I up my coverage to a million? How about 10 mil? I might hit a school bus...

 

[SkaredShtles]

With that logic, should I up my coverage to a million? How about 10 mil? I might hit a school bus...

They'd love that.

In the end the lawyers & insurance companies will have all the money.

 

[Hawkeye]

With that logic, should I up my coverage to a million? How about 10 mil? I might hit a school bus...

Laugh if you want but if you own a home you need at least a 1 million umbrella.

I have had 5 clients lose lawsuits in excess of 1mm in the last 6 months 2 were from rearend collisions.

I hadn't had anything like that in 6 years. Settlements are on the rise and lawyers are getting smarter and smarter about where they find your money.

And by the way a court case would be considered a mistrial if they knew what liability limits you carry.