Current Events > Reddit was saying you should have 1 million dollar property damage liability

(+) Yeah! (+)

because you might run into a McLaren or something.

how much would that even cost.

I don't eat at McDonald's so I doubt I'll hit a McLaren

No that's dumb

How about you just plug it into an insurance quote calculator and see

Anything under a mil is irresponsible.
What if you go off road into a house or building?
Or hit multiple vehicles?

The situations where you could be liable for up to a million are very realistic.

Source: I work with cars from insurance claims

I have 100k in pd on my autos, plus a 1 million dollar umbrella

I don't usually see 1 million offered on the auto policies but umbrellas are cheap and easy to secure

meestermj posted...

Or hit multiple vehicles?

i mean i dont plan on totaling 20ish vehicles in one go

but at least i know i could.

MixedRaceBaby posted...

i mean i dont plan on totaling 20ish vehicles in one go

but at least i know i could.

You joke, but especially on icy roads shit can happen. Or if you cause a pileup.

And if you hit 3 vehicles, you could be on the hook for as much as $300,000 depending on the vehicles. (Ram 1500 rebel fully decked can be close to $100,000 CAD)

meestermj posted...

You joke, but especially on icy roads shit can happen. Or if you cause a pileup.

And if you hit 3 vehicles, you could be on the hook for as much as $300,000 depending on the vehicles. (Ram 1500 rebel fully decked can be close to $100,000 CAD)

guess ill just have to be a better driver

MixedRaceBaby posted...

guess ill just have to be a better driver

So says everyone.
Tell that to the 100+ cars I see daily from Nov to March.
"oh it wasn't my fault!"
"I'm a good driver!"

[LFAQs-redacted-quote]

It covers property outside of just other vehicles as well. Buildings, sign posts, hydrants, homes, light posts, guard rails, etc.
Scenario:
You hit a deer, it destroys your windshield.(happens very very often in deer hits)
You go off road, and hit a power pole.
The dropping power pole hits another vehicle/causes a pileup.

If you don't have the proper coverage, you are liable for all of the damages involved.
Your car, their car (multiples if unlucky), and the power pole, lines, and equipment.

But no, "it'll never happen to me."
Until it does and you owe multiple hundreds of thousands of dollars.

I don't think my neighborhood is worth a million dollars

ok well

how much is 1 million property damage liability

should i get 2 million

1 million property damage would probably cover your mansion getting smashed by a meteor

MixedRaceBaby posted...

ok well

how much is 1 million property damage liability

should i get 2 million

2 million is excessive in most situations.
I have 2 million liability on my home insurance (town homes), but not my car.
The liability coverage shouldn't bump costs significantly in most areas, but it does vary by area.
I pay significantly more than most due to being Canadian and in a major city.

Unless you live in Dubai, Miami or downtown Vancouver, where the hell are you going to constantly be jockeying for position with McLarens?

I like a lot of subreddits, but anything to do with financial advice is always brain dead

electricbugs2 posted...

Unless you live in Dubai, Miami or downtown Vancouver, where the hell are you going to constantly be jockeying for position with McLarens?

i guess i could wreck 10 teslas here in one go

I'm sorry what? You should be insured for a million in liability in case you crash into a guy with a million dollar ride?

A McLaren F1 costs over 8 million

Trumpo posted...

A McLaren F1 costs over 8 million

damn

well

better call Geico and ask for 8 mil in property damage

Doe posted...

I'm sorry what? You should be insured for a million in liability in case you crash into a guy with a million dollar ride?

No, in case you cause something catastrophic like a pile up on a freeway.