scrubbedexpat099

My State Minimum is I think $25,000 so does not much and they will pay and say bye.

Olly_

This thread just reminded me to take out an Umbrella policy

spouse of scouse

I needed an umbrella policy yesterday, the wind turned mine inside out and broke the frame

scrubbedexpat091

Is 300,000-500,000 considered good for US car insurance policies? Its been eons since I drove in the US but that seems kind of low considering the medical bills and other crap you can end up with in US from being in an accident.

We have 1 million liability currently. Basic minimum is $200,000 here in BC.

ddsrph

petitefrancaise

I'm just wondering how many posts we can make out of this one.. the OP hasn't come back and I'm just dying to know what's going on!!

scrubbedexpat091

So is $1 million is all you can get with standard policy and then have to buy an umbrella policy?

We can choose up to $5 million under standard policy, we chose $1 million as we have no assets and its a good middle ground to keep the policy affordable yet provide protection, but we could go as high $5 million or as low as $200,000 with regular insurance policy.

spouse of scouse

On past form, I think we can easily reach 100

morpeth

Most cases never reach the trial stage and it absolutely isn't necessary to have a basis for a countersuit to reach a settlement The possibilities of a settlement depend on much more than whether there is a basis for a counter suit, key actors are time money and general past experience of how such cases are settled combined with the particular judge and jurisdiction. Having a basis for a countersuit can help in negotiations, even having no basis for a countersuit but filing one anyway can help- but it isnt necessary to get a settlement.

Litigation in America can be expensive and time consuming, thus in many cases it is simply a matter of comparing legal costs and time to litigate- modified by degree of probability- to a potential outcome and therefore considering settling. Being right or wrong often is immaterial to such a decision from either side whether to settle.

The first step is consult with an attorney who specializes in these sort of cases, who can then give an idea of probabilities and amounts that may be involved. Good chance an experienced lawyer can tell you upfront the options and costs which a high degree of probability.

civilservant

I am currently still embroiled in the lawsuit from a wreck I had in November 2016. Plaintiff wants $25k, insurance wants to pay $11k.

The amount they have spent on the lawyer at this point, plus wasted my time for 3 trips to the attorney for discovery responses and a deposition, they should have just paid them what they wanted to go away.

MidAtlantic

There's a very long way to go.. it hasn't even diverted from the subject yet

Nutmegger

And it's still just total conjecture that this involves an auto accident!

Olly_

Maximum with most insurers seems to be $500,000 at least in NJ, certainly the ones I've had insurance with or had quotes from (NJM, Geico, Progressive, Farmers) won't offer any more than that on a regular policy. It might vary by state though.

I just took out a $1m umbrella policy so I now have that plus the $500k on my auto policy.

Giantaxe

Very wise. I have $300k for auto and home (another important one, btw) liability and then my umbrella is for more than my total assets. Not foolproof, of course, but what else can you do?

Olly_

Yes, I have $500k liability on my homeowners too