Umbrella Insurance

[pjm-7]

Folks, thanks for the nudge. I called my home/auto insurer (Hartford) last night and got a $1 million policy for $162 per year. The thing I got thinking about is a modest inheritance in the next couple of years. I don't want some ambulance chasing attorney messing with that.

 

[RenoJay]

My rough rule of thumb is to have umbrella insurance at least equal to net worth. But the reality is that there are such things are runaway juries where they may award a plaintiff way more than you'd ever expect. This is America where people sue and sue often.

 

[googily]

I did the same thing! Still haven't decided whether to up my coverage.

I go through an intersection with a left green arrow every day. You have to get into a left turn only lane to take it. Oncoming traffic sometimes take right-on-red turns when my side has the left green arrow. After a close call, I now make sure my left arrow is on and make sure the other side is at a full stop.

I am so much more aware of risk in retirement. Thing is, whatever you have not thought about, is the thing that will end up happening.

One thing I do at particularly icky intersections where I need to turn left is to stay to the right, go one block ahead, turn right, turn right again, and then I'm on the street I was trying to turn left onto.

(Works best if it's an intersection with a light, of course.)

 

[CoolRich59]

I keep $2M, and pay $250 per year for it. No uninsured/underinsured - I have sufficient coverage for that on my auto policy. Mine is also renewing in a couple of weeks.

Ditto, though State Farm made me max my auto coverage before setting up the umbrella.

I just increased mine. $330 for $2m in IL.

No un/underinsured. I also lowered my auto coverage to save a few $$.

 

[JoeWras]

One thing I do at particularly icky intersections where I need to turn left is to stay to the right, go one block ahead, turn right, turn right again, and then I'm on the street I was trying to turn left onto.

(Works best if it's an intersection with a light, of course.)

Good idea in places with a decent grid.

A lot of surburbia ends up in dead ends or oddball slow curves, so you just have to be careful with this.

I once saw a show on PBS about phobias, and they featured a lady who did not like to make any right turns (it was in England) because of this risk. She did exactly what you describe, i.e. left turns only to avoid the risk of turning across opposing traffic. I thought it was a good idea and not such a bad phobia to have.

 

[braumeister]

It's apparently such a good idea that UPS drivers hardly ever make a left turn.

Why UPS Is So Efficient: "Our Trucks Never Turn Left"
Associated Press Bob Stoffel, Senior VP of UPS, revealed an unusual way to save time and money to Fortune: Stop making left-hand turns. Engineers map out every route, he says, and provide right-turn only directions to drivers.

Left-hand turns are dangerous and wasteful, data shows. By avoiding them, UPS saves 10 million gallons of fuel each year

 

[copyright1997reloaded]

My rough rule of thumb is to have umbrella insurance at least equal to net worth. But the reality is that there are such things are runaway juries where they may award a plaintiff way more than you'd ever expect. This is America where people sue and sue often.

Given the market over the last month, does that mean I can reduce mine?

 

[DEC-1982]

Umbrellas only cost $5. Seems silly to have insurance for them.

LOL !!!

 

[CoolRich59]

I just don't think it's worth it. Umbrellas aren't that expensive.

Umbrellas only cost $5. Seems silly to have insurance for them.

Well done!

 

[HarveyS]

I've got $4m coverage in IL for about $700. FWIW, premium doubled from $350 once DS got his license and was added to my coverage. As I recall, the difference in premium wasn't too large for 2, 3 or 4M coverage. My agent suggested that $4M was more than enough, even though it is less than my NW.

 

[misshathaway]

One thing I do at particularly icky intersections where I need to turn left is to stay to the right, go one block ahead, turn right, turn right again, and then I'm on the street I was trying to turn left onto.

(Works best if it's an intersection with a light, of course.)

I do that too! AND say you're pulling out of a hugely busy place like a gas station and the traffic is fierce both ways. You really want to go left. Do you go right instead, drive until you can make a safe left turn into a parking lot or semi-circle driveway and get back on the road driving in the direction you wanted to go?

 

[googily]

I do that too! AND say you're pulling out of a hugely busy place like a gas station and the traffic is fierce both ways. You really want to go left. Do you go right instead, drive until you can make a safe left turn into a parking lot or semi-circle driveway and get back on the road driving in the direction you wanted to go?

Yes indeedy!

I am always fascinated by the traffic flow setups around Detroit, mainly on the "Mile" roads. Sometimes they have a right-side "exit," like off a freeway, for you to take instead of a left turn. Other places you need to stay left so that you can go past the street you want to turn left on, then use a built-in U turn, then get over to the right and turn right on the street you wanted to be on.

They are both good ideas, but you never know which one is going to be coming up!

 

[mystang52]

Yes indeedy!

I am always fascinated by the traffic flow setups around Detroit, mainly on the "Mile" roads. Sometimes they have a right-side "exit," like off a freeway, for you to take instead of a left turn. Other places you need to stay left so that you can go past the street you want to turn left on, then use a built-in U turn, then get over to the right and turn right on the street you wanted to be on.

They are both good ideas, but you never know which one is going to be coming up!

My state, NJ, recognized long ago that people in general can't make left turns. So on most major thoroughfares we have to take the annoying "jughandle" turn to go left!

 

[Dtail]

My state, NJ, recognized long ago that people in general can't make left turns. So on most major thoroughfares we have to take the annoying "jughandle" turn to go left!

I remember those contraptions and don't miss them. FLA drivers are worse though.

 

[ncbill]

My rough rule of thumb is to have umbrella insurance at least equal to net worth. But the reality is that there are such things are runaway juries where they may award a plaintiff way more than you'd ever expect. This is America where people sue and sue often.

For an individual defendant, actually mounting a defense (i.e. not default judgments) the above doesn't happen unless the defendant is drunk.

So don't drive DUI.

Otherwise, the plaintiff either settles for your policy limits, or rolls the dice and hopes:

1. they win

2. and there's something left to collect after years of litigation.

 

[misshathaway]

My state, NJ, recognized long ago that people in general can't make left turns. So on most major thoroughfares we have to take the annoying "jughandle" turn to go left!

Annoying to millenials maybe. Heaven to me!!