Quote:
Originally Posted by Traum
Good luck if you get into any sort of accident. Basic liability coverage is only $500k, I think? If there are more than 2 persons getting injured, you are on the hook for their medical, recovery, and income replacement bills because that $500k coverage won't be enough.
Last I heard, bankruptcy is not a very nice thing. If you can't afford the extra liability coverage, perhaps taking transit is a better bet.
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Quote:
Originally Posted by 320icar
Minimum liability is 1mil IIRC
(Bonus fact, in some states with the ultra cheap “the general” insurance etc minimum liability is $5000)
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Basic TPL is $200k, that does not go far by any means. Any dollar over $200k will be personally pursued from you privately ie. assets or garnished from your wages. Good luck working for someone else for the rest of your life, starting from your first job out of school.