I searched and didn't find an old thread on this topic. I've always been as self-insured as possible (risk tolerant) but last year we increased our auto liabilities to $300k per person, $500k per accident, and $100k property damage. We have the same amounts in uninsured/underinsured motorists. Previously, we had the minimum policies allowed, which were around the $50k-$100k range.
We also opted for $500k liability coverage for any accident/injury on our property. Of course, they want to sell us an "umbrella" liability policy for $1MM or more.
I hate to spend money on insurance, so I'm considering rolling these amounts back. It won't save big money, but every dollar counts, right?
Are 300/500/100 amounts common for an auto policy? Is it high/low? What do you carry? Do you have umbrella liability coverage?
We also opted for $500k liability coverage for any accident/injury on our property. Of course, they want to sell us an "umbrella" liability policy for $1MM or more.
I hate to spend money on insurance, so I'm considering rolling these amounts back. It won't save big money, but every dollar counts, right?
Are 300/500/100 amounts common for an auto policy? Is it high/low? What do you carry? Do you have umbrella liability coverage?