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Adequate insurance coverage

Discussion in 'Model S' started by amans232, Sep 29, 2015.

  1. amans232

    amans232 Member

    Apr 10, 2014
    Just wanted to get a snapshot of how much insurance coverage model s owners think is enough. Right now I have a 50/100 for bodily injury and uninsured motorist.

    What do most people think is necessary and why? Thanks

    btw, I switched from Geico to Progressive and it cut my premium by 45% ($1900 to $1000 for a six month term)
  2. CHG-ON

    CHG-ON Still in love after all these miles

    Jun 24, 2014
    Santa Cruz Mountains, USA
    I'm using Allied and have 100/500 and pay approx 1,300 annually in Santa Cruz, CA. Remember to include all your assets in your coverage, not just the car. I can't tell where you are. So I don't know if this helps. I work through my broker, not directly, and seem to get good pricing. I also bundle, auto, home, umbrella for multi-policy discounts on all.

  3. DougJohnson

    DougJohnson Member

    Apr 2, 2015
    Dallas, Texas
    It depends on you. How much in attachable assets do you have? If not much, then you can get away with lower limits. Last time I looked, lower limits did not save much money, but that was a long time ago.

    One of the great bargains in insurance is umbrella insurance. This is a high limit policy ($1-2 million) that takes over when you reach the max on your other liability policies (auto and home). One of the reasons it is a bargain is that the insurance company is on the hook to defend any action against you. I figure they will defend a $2,000,000 liability much more vigorously than $50,000.

    -- Doug

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