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SVTPerformance's Chain of Restaurants
Road Side Pub
Insurance liability limits
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<blockquote data-quote="Jefe" data-source="post: 11296377" data-attributes="member: 41358"><p>I carry $500k/$500k on my car and have a $1mil Umbrella. </p><p></p><p>You are confusing Liability with Property Damage or Collision. Liability limits are for everyone else. All the others coverage are for you. Liability is either a per person/per accident amount or a combined single limit. </p><p></p><p>Most states only require 15/30/10. 15 is per person, 30 is per accident 10 is property damage. If you hit someone and injure 1 person, your policy will only pay out a max of $15k for all injuries related to that accident. If you hit a car and injure 3 people, no one person will get more than $15k and a total of $30k for all injured parties. If one person has a bruise and only needs $300 in bills paid for and another is put in a coma and has $50k+ in bills they will not allow you to use the excess from $300 to $30k to help the injured person. Per person means per person. </p><p></p><p>As far as Property Damage, that is for everyone else as well. It pays to fix their car or property that you damaged in an auto accident. </p><p></p><p>Obviously 15/30/10 is insanely low and anyone with assets to protect is screwing themselves over as ANYTHING can be taken from you in an injury lawsuit. I have seen someone that had the wages garnished for years due to not carrying enough Liability coverage. </p><p></p><p>Is your step daughter over 18? She is considered an adult and her own "entity" as far as many states are concerned. The title of the vehicle she drives needs to be put in her name or else anything she does in that car goes back to the registered owner.</p><p></p><p>Thomas have you checked with Farmers? They had had some pretty good rates for a while. I have a buddy who is an agent in Costa Mesa if you need a contact for a quote.</p></blockquote><p></p>
[QUOTE="Jefe, post: 11296377, member: 41358"] I carry $500k/$500k on my car and have a $1mil Umbrella. You are confusing Liability with Property Damage or Collision. Liability limits are for everyone else. All the others coverage are for you. Liability is either a per person/per accident amount or a combined single limit. Most states only require 15/30/10. 15 is per person, 30 is per accident 10 is property damage. If you hit someone and injure 1 person, your policy will only pay out a max of $15k for all injuries related to that accident. If you hit a car and injure 3 people, no one person will get more than $15k and a total of $30k for all injured parties. If one person has a bruise and only needs $300 in bills paid for and another is put in a coma and has $50k+ in bills they will not allow you to use the excess from $300 to $30k to help the injured person. Per person means per person. As far as Property Damage, that is for everyone else as well. It pays to fix their car or property that you damaged in an auto accident. Obviously 15/30/10 is insanely low and anyone with assets to protect is screwing themselves over as ANYTHING can be taken from you in an injury lawsuit. I have seen someone that had the wages garnished for years due to not carrying enough Liability coverage. Is your step daughter over 18? She is considered an adult and her own "entity" as far as many states are concerned. The title of the vehicle she drives needs to be put in her name or else anything she does in that car goes back to the registered owner. Thomas have you checked with Farmers? They had had some pretty good rates for a while. I have a buddy who is an agent in Costa Mesa if you need a contact for a quote. [/QUOTE]
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Insurance liability limits
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