Is this too little car insurance protection?

[Anonymous]

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

No. Your UIM coverage will cover you anytime you're injured by an un/under insured motorist, regardless of whether you are driving, biking, or walking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is what we have:
Bodily Injury Liability: $300K/$500K
Property Damage Liability: $100K
Uninsured Motorists Bodily Injury: $300K/$500K
Property Damage: $100K

The goal is to have enough insurance that, in case of a bad accident, you don't have to worry about the money. You don't need that stress on top of your injuries.

Why don't you decrease the $500K down to $300k and just cover the overlap with umbrella?

Not all umbrella policies cover UIM though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

No. Your UIM coverage will cover you anytime you're injured by an un/under insured motorist, regardless of whether you are driving, biking, or walking.

Wait, seriously? This has never crossed my mind, I assumed it only covered accidents involving un/underinsured motorists and my car. Why would my car insurance cover situations where I'm not a driver?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is what we have:
Bodily Injury Liability: $300K/$500K
Property Damage Liability: $100K
Uninsured Motorists Bodily Injury: $300K/$500K
Property Damage: $100K

The goal is to have enough insurance that, in case of a bad accident, you don't have to worry about the money. You don't need that stress on top of your injuries.

Why don't you decrease the $500K down to $300k and just cover the overlap with umbrella?

The $300K/$500K is how our insurance sets it up. I can't pick only one of the two figures.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

No. Your UIM coverage will cover you anytime you're injured by an un/under insured motorist, regardless of whether you are driving, biking, or walking.

Wait, seriously? This has never crossed my mind, I assumed it only covered accidents involving un/underinsured motorists and my car. Why would my car insurance cover situations where I'm not a driver?

It's just how UIM works. Google it if you don't believe me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

No. Your UIM coverage will cover you anytime you're injured by an un/under insured motorist, regardless of whether you are driving, biking, or walking.

Wait, seriously? This has never crossed my mind, I assumed it only covered accidents involving un/underinsured motorists and my car. Why would my car insurance cover situations where I'm not a driver?

It's just how UIM works. Google it if you don't believe me.

I believe you, I'm just surprised (I guess pleasantly surprised, though obviously I'd hope never to need to make this kind of claim anyway).

[Anonymous]

It is not sufficient liability coverage. Medical bills can rack up quickly in an accident. Don't be cheap with insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Where are you located? The minimum coverage in VA goes up to $50,000 next year.

It is definitely too low. Imagine you’re hit by a driver with your coverage and that driver causes you to break a leg, need a surgery, be unable to work, or worse, and have serious lifelong injuries. You could quickly accumulate far more in injuries than the $30,000 you’re insured for in UIM/UM coverage. Is that a risk you’re willing to take? When you buy insurance, you have to think about more than the cost of your car. Think about what money you want available to you if you suffer really bad injuries in a crash, or if your mistake causes them for someone else. Do you own a home? Do you have an umbrella policy? Even for a young, healthy person, $30,000 in coverage is way too low. What if you’re hit by a car crossing the street in DC and lose a leg? Those are the questions you need to ask.

If I'm hit by a car crossing the street and lose a leg, my car insurance won't pay for any of that, though. Right?

No. Your UIM coverage will cover you anytime you're injured by an un/under insured motorist, regardless of whether you are driving, biking, or walking.

Wait, seriously? This has never crossed my mind, I assumed it only covered accidents involving un/underinsured motorists and my car. Why would my car insurance cover situations where I'm not a driver?

You should buy high liability limits + UIUM auto coverage if you don't own a car but walk or ride a bike. It covers you if an uninsured driver hits you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is what we have:
Bodily Injury Liability: $300K/$500K
Property Damage Liability: $100K
Uninsured Motorists Bodily Injury: $300K/$500K
Property Damage: $100K

The goal is to have enough insurance that, in case of a bad accident, you don't have to worry about the money. You don't need that stress on top of your injuries.

Why don't you decrease the $500K down to $300k and just cover the overlap with umbrella?

The $300K/$500K is how our insurance sets it up. I can't pick only one of the two figures.

If you have umbrella it is ridiculous to have that much coverage. If not, OK but your premium must be super high.