How much insurance coverage do you guys have?
Thread Starter
Registered User
Joined: Jun 2001
Posts: 3,477
Likes: 0
From: jimisapostwhore
How much insurance coverage do you guys have?
I'm about to renew my insurance, and I currently have the state's minimum. I'm trying to decide if I should increase the amount of coverage. What amount of coverage do you guys have for the following?
Bodily injury
Property damage
Medical payments
Uninsured/Underinsured Motorist
Bodily injury
Property damage
Medical payments
Uninsured/Underinsured Motorist
Joined: May 2001
Posts: 93,305
Likes: 820
From: Nowhere
Go for the minimum required by law (100/300/100 around here)... Unless you are clearly the sole cause of a multi-car pileup, it's sufficient. And why give the insurance company more money than you "need" to? You won't get treated any better for it if you make a claim, or have a claim made against you in the case of an accident.
Joined: May 2001
Posts: 93,305
Likes: 820
From: Nowhere
It refers to liability coverage (if you cause an accident in which someone gets hurt or a vehicle other than yours gets damaged). Your vehicle is covered under collision.
$100,000 per person bodily injury
$300,000 per accident bodily injury
$100,000 per accident property damage
Unless you know a good lawyer (or are one), I'd stick with this as a minimum. It's not hard to do $100k in BI these days
$100,000 per person bodily injury
$300,000 per accident bodily injury
$100,000 per accident property damage
Unless you know a good lawyer (or are one), I'd stick with this as a minimum. It's not hard to do $100k in BI these days
Joined: May 2001
Posts: 93,305
Likes: 820
From: Nowhere
Oh, I have $5000 in medical coverage. That's a tough one to decide upon, however. I know people who get very little ($1000?) and some who have a lot ($20000).
Uninsured/Underinsured is a very small part of your insurance premiums, and the level will match your regular liability (so you'd have 100/300/100 UM/UIM coverage with 100/300/100 liability).
Uninsured/Underinsured is a very small part of your insurance premiums, and the level will match your regular liability (so you'd have 100/300/100 UM/UIM coverage with 100/300/100 liability).
Trending Topics
Registered User
Joined: Jul 2001
Posts: 267
Likes: 0
From: Mililani, HI
I went for the minimum and it is 15,000/30,000/10,000. The only thing that I can recommend is to make sure you have "gap insurance" if you owe more then the current value, or leas. That extra $30.00 a year has saved my but twice. If the car is taken, or totaled in any way, then you can just walk away from the loan/lease.
Joined: May 2001
Posts: 93,305
Likes: 820
From: Nowhere
Personally, I'd find the different between 100/300/100, 50/150/50, and maybe 15/50/15. When I looked, the difference wasn't big enough to risk losing everything I have (which isn't much but that's besides the point) if I got in an accident. *IF* you get sued, having only 15/30/10 will probably result in you losing whatever of value you may own...
