How much auto insurance do you carry?

How much auto insurance do you carry?

  • $2 million or more

    Votes: 11 52.4%
  • $1 million

    Votes: 3 14.3%
  • $500,000

    Votes: 2 9.5%
  • $250,000

    Votes: 2 9.5%
  • $100,000

    Votes: 1 4.8%
  • $50,000

    Votes: 1 4.8%
  • $35,000

    Votes: 1 4.8%

  • Total voters
    21

Steve Levin

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For those folks that live in countries and states where you purchase auto liability insurance (i.e., if an accident is your fault, it pays the people you hit), how much coverage do you carry?

Feel free to include umbrella policies that provide you with general liability coverage personally (which would kick in if you exceed the limits of your primary auto coverage).

Thanks!

Steve
 

freeferrarisdonotexist

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I have only liability and only my small motorcycle covered, I get damn cheap rates (due to the low cost of replacing the bike, few modifications, and a clean driving record) but need it that way. I previously had full coverage on my Miata but had to drop it and put the car in storage when I lost employment.
 

Hidden_Hunter

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Don't think i've seen any policy here that has less than $10,000,000 coverage

A portion of our license is also for coverage if you're injured by someone without insurance
 

Karoug

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I have what we call "half-insurance", it covers basically everything up to 100 Million ?, but not body damage on my car.
 
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Hidden_Hunter

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I have what we call "half-insurance", it covers basically everything up to 100 Million ?, but not body damage on my car.

called third party insurance here, I have comprehensive insurance on my accord euro
 

ashspet

Nothing to see here, move along people!
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Compulsory third party that comes with the car rego, I think that's about $1mil, and $10mil full comprehensive on the mazda.
 

Interrobang

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100 Million ?.
What he said. You have to have that by law here for your car, a liability insurance that pays for damage that you caused to others. It?s not insurance for yourself or your car. So if you have an oopsie and knock down a bridge with your car (we?ve all been there, haven?t we :D), the bridge will be paid for ... any damage for your car is out of your own pocket. There is additional insurance for that, but that is optional.
 

DanRoM

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I don't know what's political about this.

As efoo said, here in Germany it's mandatory to have liability insurance for your car. I don't know how high mine goes, it's the standard value, and if that's ? 100 Mio., then so be it, it's high enough in almost any case. Additionally, I have insurance covering my own damage up to some very high sum of money in case of accident, theft or various other mishaps. I also have a private liability insurance in case I break something not using my car to do it, and that includes bicycle and pedestrian accidents.
 

AiR

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I have no idea. It's insured.

edit
Only figure mentioned in the terms is that the required traffic insurance (that all insurance companies must offer to everyone) covers damages of 300 million SEK.
 
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SirEdward

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VW Polo mkVI
5 millions ?. Compulsory insurance only covering damages done to other people. Theft, Fire, Sociopolitical and Natural events and other insurance formulas are dealt with separately.
 
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tigger

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I only have liability insurance (coverage for whatever I hit and not for my own vehicle). I have $50k liability on my car and motorcycle both. I also have medical coverage (for occupants of my car and myself); something like $150-200k I think. Mostly because I don't have my own health insurance at the moment. More coverage would be great, back in '05 I nearly maxed it out in one wreck, but I need to eat too. :p
 

Cobol74

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Fully Comprehensive - so no upper limit to liability (which I think is a mandatory provision of all UK policies, including the Third Party, Fire and Theft type ones) - I have some deductibles 500GBP Each and Every on one and 250GBP on the other two.

I carry legal expenses cover as a Policy extension to the package of covers and one can get temporary extensions to other cars you may have a need to drive for a nominal amount or even free if the period is short and the Insurance Group is low.
 

Steve Levin

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Ah, interesting stuff to know.

The US is structured a bit differently; insurance requirements are quite a bit lower. In most states one buys liability (and cane buy comprehensive to cover your own stuff), and the minimums are quite low -- I think California minimums are something like $35,000 total, of which even less has to be paid out to a single party.

So policies are typically structured as follows (I'll use my own auto insurance as an example):

$500,000 total maximum payout by the policy, limited to
$250,000 maximum to a single person
$100,000 in property damage

I would actually have to look at the policy to determine if a single person can get $250,000 for injuries and then, say, $100,000 for property damage (their car, for example), but I haven't worried much about it because I have a secondary personal "umbrella" liability policy that will step in for another $1,000,000 if the auto limits are exceeded (it also covers claims should someone be injured in my home, etc...) -- and that policy's definition of "liability" is such that it covers property damage, so as long as I avoid a Veyron I'm okay.

So it's quite interesting to see the much higher limits carried elsewhere...

Steve
 
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Cobol74

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We had a scandal in the 1960s - Fire, Auto and Marine was the company - basically went bust having had all it's assets taken offshore by a crook as I recall. There was a restructure after that. There is an uninsured loss bureau - a slice of each policy is put in a kind of insurance of insurances and say you are hit by a Pikey (Who are Never Insured) and killed the death benefit is paid out of this fund.

See if I can find a citation for Fire, auto and Marine. Hang-on. ...


EDIT/
Thats right Emil Savendra, that was the cove (He had an IBM MF too):

http://en.wikipedia.org/wiki/Emil_Savundra#Fire.2C_Auto_and_Marine

I had forgotten that this was part of the Christine Keeler business too.

"There are many photographs of him posing with such figures. In his first race he fractured his spine and was referred by one of his high society friends to an osteopath called Stephen Ward. This is when he became involved with Christine Keeler and Mandy Rice-Davies and Savundra is referred to at Stephen Ward's trial as 'the Indian doctor'.[3] "

http://upload.wikimedia.org/wikipedia/en/3/34/CKeeler1.jpg

The small size of the Picture does not do her justice, KaPow!
 
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thevictor390

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100 Million ?.

Yes, U.S. standards are quite a bit lower. I honestly don't know my limit for sure, for some reason $500,000 comes to mind. I would be quite impressed if you managed to rack up 100 million euros worth of damage in a single crash :lol:
 

DanRoM

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I would be quite impressed if you managed to rack up 100 million euros worth of damage in a single crash :lol:
That sums includes medical costs and the like (no more than ? 12 mio per person according to efoo). So if you manage to crash into a coach carrying 70 passengers and kill/seriously injure all of them with fire, you'd be glad to have such an insurance...
Sure, ? 12 mio. is very high, but in turn we can be reasonably sure our insurance will cover all the damages in any case.
 
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