3 ms·
Getting sued because you only had $25k in liability coverage seems like enough of a nightmare that it seems crazy to me to only have that little. I pay somethin
by Marsymars 1y ago
Getting sued because you only had $25k in liability coverage seems like enough of a nightmare that it seems crazy to me to only have that little. I pay something like $500/year for $2 million in liability coverage.
- aaronmdjones 1y agoYeah, $25k seems really really low. My fully-comprehensive insurance was renewed for 12 months recently for just under £400, and I'm covered for third-party liability up to £20M, except at specifically-defined hazardous locations (nuclear installations, power stations, refineries, railways, etc), where it is only £1.2M.
- Marsymars 1y agoI’d just add that the cost difference to insure your £20M vs my $2m is pretty low - $2m is just the max that auto policies typically have as an option in my jurisdiction. If you want more, it’s pretty straightforward to get umbrella insurance though.