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> She quickly discovered that there was little hope of that. The driver who killed Seamus had just $100,000 of liability coverage per victim This is pretty wil
by the_mitsuhiko 3y ago
> She quickly discovered that there was little hope of that. The driver who killed Seamus had just $100,000 of liability coverage per victim
This is pretty wild. The legal minimum coverage in Austria for cars is 7.6 Million Euro (6.3M for personal injuries and 1.3M for property damage). Apparently in most US states the minimums top out at 50k (however they are per victim). Seems widely off though.
- SoftTalker 3y agoAt least in my state, an umbrella liability policy is fairly inexpensive. Mine does require that I also maintain liability coverage on my cars and home so it only covers liability in excess of that, therefore it's not too costly. If you own a house and have assets such as retirement accounts it's probably something you want to add. I do agree that the minimums have not really kept up with inflation in healthcare costs. A $50K liability minimum would only cover a few days' care in a hospital, any serious injury would likely cost several multiples of that.