Sojourner
Thinks s/he gets paid by the post
- Joined
- Jan 8, 2012
- Messages
- 2,617
I'm in the process of shopping my auto & homeowners insurance around for competitive quotes, and I realized that I actually don't have a good handle on how much liability coverage I should have for things like property damage and bodily injury. The default numbers that come up for most online car insurance quotes are:
I believe I've read on this forum that many of us here max out the liability coverages on auto & homeowner's insurance, which is usually a requirement for carrying an umbrella policy. Is this something I should be doing, too—maybe even, especially—since I don't have umbrella coverage? Would it be "penny wise, pound foolish" to go with the default coverages listed above, to save a few bucks?
Thanks in advance for any feedback and advice.
- $50,000 for property damage (the max insurance will pay if I damage someone else's property in an accident)
- $50,000/$100,000 for bodily injury (for paying someone else's medical bills if I cause their injuries)
I believe I've read on this forum that many of us here max out the liability coverages on auto & homeowner's insurance, which is usually a requirement for carrying an umbrella policy. Is this something I should be doing, too—maybe even, especially—since I don't have umbrella coverage? Would it be "penny wise, pound foolish" to go with the default coverages listed above, to save a few bucks?
Thanks in advance for any feedback and advice.