Car Accident and Insurance

[kenmac]

The liability minimums here in CA are 15,000 per person, 30,000 total per accident.

Phil

The State min here was 20,000 per person/ 40,000 per occurrence/10,000 property damage. The gov. just made them raise it to new min requirments of... 25,000/50,000/25,000. If you were to get into an accident & hurt someone & you were to have these minimums.. A lawyer can go after you'er assets

 

[Bird]

The State min here was 20,000 per person/ 40,000 per occurrence/10,000 property damage. The gov. just made them raise it to new min requirments of... 25,000/50,000/25,000. If you were to get into an accident & hurt someone & you were to have these minimums.. A lawyer can go after you'er assets

Yep, with current prices, I think that's inadequate, but last year Texas raised the minimums from $20k/$40k/$15k to $25k/$50k/$25k and in 2011 they'll be raised to $30k/$60k/$25k. Texas Department of Insurance

 

[aczlan]

Yep, with current prices, I think that's inadequate, but last year Texas raised the minimums from $20k/$40k/$15k to $25k/$50k/$25k and in 2011 they'll be raised to $30k/$60k/$25k. Texas Department of Insurance

When I started driving on my own insurance policy my parents suggested policy limits of $100k/$300k/$100k which I carry, along with $100k in uninsured/underinsured motorist coverage, yes it costs a little bit more (and I am not planning on causing an accident), but I don't want to cause an accident and the be personally liable, because my insurance didn't have high enough limits and with the price of cars and medical treatment these days, that could be an issue.

Aaron Z

 

[kenmac]

When I started driving on my own insurance policy my parents suggested policy limits of $100k/$300k/$100k

Aaron Z

On my personal vehicles I carry $200k /$500k/$500k. Sometimes I wonder if this is enough

 

[tallyho8]

In Louisiana, the minimum insurance is only 10,000/20,000/10,000. This would hardly pay for the ambulance and emergency room bills. I keep a 300,000/300,000/50,000 policy with a 300,000 uninsured motorist policy.

I would like to have a larger property damage policy but this is as high as my insurance company goes.

My uninsured motorist policy costs more than my liability policy but since this insurance pays me, it's worth it.

 

[Bird]

On my personal vehicles I carry $200k /$500k/$500k. Sometimes I wonder if this is enough

I currently have the same as Aaron, and I have the uninsured motorist limits the same, but recently checked the cost of increasing both to $250k/$500k/$250; about $8 a month.

 

[kenmac]

I currently have the same as Aaron, and I have the uninsured motorist limits the same,

The way I understand it. The uninsured motorist coverage is for only people ( other than you'er family) riding in the vehicle with you that may not have insurance to cover madical bills. The insurance agent & I were discussing this the other day when I raised my homeowners Liability to 1 mil $

 

[the_sandman_454]

It might be worth while to add an "umbrella" policy to the insurance you own also. It's not particularly expensive but covers you liability wise over and above whatever the other policies you have cover. For example, I have 200/500/200 or something like that on my auto policy but the umbrella policy I have covers $1m over and above that.

 

[kenmac]

I'll have to see what that cost would be on my personal vehicles. I already have $2 mil liability for business purposes. Seems like I'am insurance poor now

 

[dmccarty]

... Seems like I'am insurance poor now

That is my worry as well. I was reviewing our policy because of conversations in this thread and sent a note to our agent this weekend. I'm worried about liability.

This thread went into its own direction and made me think of something I had not really thought about recently.

Later,
Dan