Quote:
Originally Posted by Babubhat
Those liability coverages are too low for people with a decent amount of assets. It doesn’t cost much to increase the limits.
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True. But, note that you may need a separate umbrella policy to increase the liability limits. That will increase your cost. I found that many auto insurance companies will only sell you liability coverage of up to $250k. I have $1 million in liability with State Farm, but Geico maxed out at $250k. Also, the $100k per person coverage for uninsured motorists insurance is almost totally worthless if you ever sue the company for "pain and suffering". Someone like Dan Newlin would probably not even take the case for that low amount. I don't bother buying any UM coverage because it is not worth the cost.