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Started By
Message
Where is the sweet spot for auto insurance deductibles/coverage?
Posted on 8/15/18 at 11:07 am
Posted on 8/15/18 at 11:07 am
Trying to figure out if I'm over insured.
8
Posted on 8/15/18 at 11:10 am to Kingpenm3
quote:
over insured.
Can never be over insured.
Posted on 8/15/18 at 11:11 am to Kingpenm3
I guess technically anything over liability is too much.
Posted on 8/15/18 at 11:12 am to Kingpenm3
Coverage - 250/500/250
Deductible - 500/500
With a 1M umbrella policy for protecting assets.
Deductible - 500/500
With a 1M umbrella policy for protecting assets.
This post was edited on 8/15/18 at 11:14 am
Posted on 8/15/18 at 11:17 am to Kingpenm3
I'm not an expert but I guess it would depend on how much net worth you have. People with 0 net worth might as well carry the minimum.
Posted on 8/15/18 at 11:18 am to Kingpenm3
Whatever the min required for an 1M umbrella at the very least.
Posted on 8/15/18 at 11:41 am to Kingpenm3
Every company has a different sweet spot.
My policy is best with $100 comprehensive deductible and $500 collision deductible.
Usually, you also get the most value at 250/500 liability limits (always match your uninsured motorist coverages).
Most other coverages are "convenience" coverages. Just ask yourself how dumb you would feel if you needed it but didn't buy it. Then compare that to your budget.
If you opt for the 250/500 liability, then also go for the umbrella policy. Ask yourself how dumb you would feel if you needed $1m, 2m, or 3m but didn't buy it.
My policy is best with $100 comprehensive deductible and $500 collision deductible.
Usually, you also get the most value at 250/500 liability limits (always match your uninsured motorist coverages).
Most other coverages are "convenience" coverages. Just ask yourself how dumb you would feel if you needed it but didn't buy it. Then compare that to your budget.
If you opt for the 250/500 liability, then also go for the umbrella policy. Ask yourself how dumb you would feel if you needed $1m, 2m, or 3m but didn't buy it.
Posted on 8/15/18 at 11:45 am to Kingpenm3
Tree fiddy.
Posted on 8/15/18 at 11:53 am to Kingpenm3
(no message)
This post was edited on 8/15/18 at 11:59 am
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