Date registered: Jun 2006
Location: St. Louis =P
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Originally Posted by gregs210
I was at the minimums (15/30) when I moved here, but considering that one accident can outstrip those limits very easily (think about all the expensive cars here in the bay area, not to mention personal injuries) I jumped up. I would never call you stupid (that's reserved for only a few people in the world, of which a couple may actually be on BW!!) but if you're in anything more than a minor fender-bender you could easily end up with a fat judgment against your house and bank account. That's not at all where I wanted to be.
I'd respectfully suggest you look at bumping it at least to the 25/50 level. The buy-in really isn't that steep. Heck you're already with LM, use their website and check it out!!
Well here is a good tip regarding BI/PD limits: States have different minimum limits, 25/50 is usually the minimum. Although, I suggest that you consider how much annual income you & your significant other bring in. I say that because if you or your SO were ever in an at-fault accident, and the other insured pursues court action for example, the lawyer will evaluate what your limits are, and will look at your income, which could pose a big problem...money out of your pocket
Because the judge or lawyer will see that you didn't have adequate coverage compared with your income. So always think smart that way, because you never know
I know this because we (our agency) just acquired a client & his wife who are both surgeons, and they had VERY low limits (from the previous company)compared to what they make, and that is scary!
Last edited by chill_babe; 01-04-2007 at 07:04 PM.