re: Car Insurance

quote:

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We drive relatively new cars (2013 F-150 and 2008 Escalade), so $5k could be a big chunk of money if either of us got in a wreck that didn't total our cars

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Then don't do it.

The rationale is that the higher the carrier sits, the less likely they have for a claim. 5k would be the burn layer where 90% of non total incidents occur. Moving from 250 to 500 or 1000 isn't really getting the carrier away from a potential payout. 5k does, but only on the physical damage. In the event of a bodily injury suit you are going to erode the deductible regardless of it being 250 or 5k.

I pay 650 per year for a 3 million dollar umbrella.

Question. .. what limits do you carry on your underlying coverage? I assume 300k, which is where many umbrella policies attach.