I've researched insurance rates on S2k's and I've found if I lower my current coverage limits (100/300/50), I can save some serious $$. However, I do not want to be underinsured so I'm wondering what truly is adequate. Is $300,000 in medical bills in an accident excessive. Also, I was wondering if $50,000 in property damage was too little. What do you guys think?

 

Depends on how you drive. Flip over the S and you could be well on your way past $300,000 in medical bills. Also remember that if the accident is your fault, $300,000 has to cover everyone involved. I would not go cheap on insurance. i did it once and it took me years to recover.

 

It really depends on the assets you're covering. If you want to cover being sued, you can get an umbrella liability policy for $1m for generally around $300/yr. Again, if you have nothing, you don't have much to lose. If you have medical insurance, you're covered with that. If you have a lot to lose, get the right insurance. $50k is not a lot of coverage for property damage, especially considering most cars these days cost that much or more.

Do yourself a favor and call a real insurance agent, they can guide you to the right policy for you.