Higher limits increases ambulance chaser interest. Most cases will settle at

Jun 19, 2024
4:11:25pm

88Coug Contributor

limits, at best. Going to high incentives plaintiffs to overtreat and PI attorneys to grab whatever is there.
250/500 is almost always enough. Even that provides too many bad incentives.

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88Coug

Bio page: 88Coug
Joined: Jun 14, 2010
Last login: Jun 26, 2024
Total posts: 641 (0 FO)

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Messages

Author

Time

What should my liability limits be on my car insurance?

jrob30

Jun 19, 3:28pm

If you have assets to protect they should be high. If you don't you could risk

johnnybyu

Jun 19, 3:33pm

Large enough that you can also buy an umbrella policy.

Madam Pattirini

Jun 19, 3:37pm

Usually that's $500K, right?

Ragnar Danneskjold

Jun 19, 3:39pm

That's what Allstate required

Skeptical Optimist

Jun 19, 3:41pm

Most carriers require 250/500. If you can’t get one from your carrier, there are

blueaussie

Jun 19, 3:43pm

Thanks. I might do that. My son leaves on his mission in a month, so I will re-visit auto / umbrella then.

Ragnar Danneskjold

Jun 19, 3:54pm

We have a standalone umbrella carrier that shouldn’t have a problem with teens.

blueaussie

Jun 19, 3:55pm

The provider Geico uses requires 300/300. It cost me $270/year for $1M umbrella.

OnEMoReTrY

Jun 19, 4:12pm

They told me $500K. Maybe because I live in one of the stupid states.

Ragnar Danneskjold

Jun 19, 4:46pm

This woman knows what she’s talking about.

Big Daddy D

Jun 19, 3:55pm

100/300 minimum but preferably 250/500 or higher.

blueaussie

Jun 19, 3:41pm

There's enough ambulance chaser lawyer ads on TV now to make anybody think

Skeptical Optimist

Jun 19, 3:41pm

We do minimum on autos and house with an umbrella policy to cover excess liability

roseyscenario

Jun 19, 3:46pm

Where do you get an umbrella with state minimum limits on your home and auto?

blueaussie

Jun 19, 3:47pm

Prob meant minimum needed to get the umbrella.

rainorsnow

Jun 19, 3:47pm

That would make sense.

blueaussie

Jun 19, 3:49pm

Yes, that's right. Use State Farm. Whatever we had to do to qualify for umbrella, which we should probably increase.

roseyscenario

Jun 19, 3:56pm

Yes, if you have any assets, you definitely should. Umbrellas are cheap coverage

blueaussie

Jun 19, 4:00pm

Increasing liability limits won’t cost much, in most cases, so it’s not much of

rainorsnow

Jun 19, 3:47pm

You should insure to the limit of your personal assets you want to

JimmyZ

Jun 19, 4:05pm

Higher limits increases ambulance chaser interest. Most cases will settle at

88Coug

Jun 19, 4:11pm

While true the insurance company is going to fight a lot harder to not give up

johnnybyu

Jun 19, 5:15pm

Look, the average PI guy is much more motivated the higher the limit. They

88Coug

Jun 19, 6:53pm

If you have assets, their lawyer isn’t going to stop at your liability limits

Skeptical Optimist

Jun 19, 9:05pm

If you think that, you don't know PI attorneys.... they stop at policy limits

88Coug

Jun 19, 9:56pm

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