Quote:
Originally Posted by Sara
I may want to switch. I have 100/300 with a $500 deductible on everything I pay more than $175. I have a clean driving record with zero at fault accidents.
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Will your insurance company write a policy with higher limits? If so, you might want to check and see how little your bill goes up with more coverage.
Many moons ago, my grandmother totaled a brand new Lexus, a year-old Mercedes, and 264 feet of NJ Turnpike guardrail. She was ruled at fault, despite claiming that it was a chain reaction accident and someone from behind pushed her into those cars and guard rail. Her state only required 10/20 liability insurance at the time, and that's what she was carrying.
When it came time to settle, her insurance company wrote $10K checks to both car owners and washed their hands. She was on the hook for the rest, plus paying the Turnpike Authority to replace 264 feet of guardrail. They didn't even hire a lawyer to contest the claim, since it was cheaper to write $20K in checks than pay for an attorney.
Ever since that day, I raised my own coverage to the maximum that my insurance company will write. I've also considered umbrella insurance, but that's another topic.
FWIW, I'm currently carrying these limits on 4 vehicles for under $3,000/year in NY State, with a $500 deductible:
Property Damage: $500K
Bodily Injury: $1 million / $ 1 million
Supplemental Uninsured Motorist: $500K / $500K