Car insurance limits

Understanding your car insurance policy #car #insurance #carinsurance #driving #caraccident #law #lawyer

[kassygendron]

Former insurance employee. Explained beautifully.

[travelingsitshow]

I caused an accident in 2016. After that accident I changed my auto insurance to the highest amount in all categories. I was horrified!

[dustinswafford]

Years ago, I was riding a motorcycle when an old lady in an SUV ran a stop sigh amd pulled out directly in front of me. I had multiple broken bones requiring orthopedic surgery and rehab. She had bare minimum coverage amd no assets worth suing for. I was extremely grateful that i had a fairly generous uninsured/underinsured policy on my own insurance to help cover the shortfall and pay my medical bills.

[squirmyd]

As an aussie this is so wild. Minimum motor liability coverage is $20 million with the major insurers 😮

[Based-wnjg]

This means that, at least for this specific situation, the optimal number of people to have in your car is always 2.

[Stultorum]

Sat down with my insurance guy and asked if lowering my coverage would save me some money. 20 minutes he tells me the same stuff in this video and how saving $10 a month in insurance vs getting sued and having wages garnished is a losing battle

[ClanWiE]

It's almost like insurance in America exists only to make profit and not to actual help people...

[emilieholmberg]

In Denmark car insurance must cover at least around 20 mil for injuries and or loss of breadwinner and a least around 4 for property damages.

So you will always be cover for damages you occur on the other party. Unless you really screws up

[Iansco]

Min in NY too. I sell insurance. The sheer amount of people who say, on the daily, that say "there is nothing LOWER? I need to save more MONEY". On a car that, while 6 years old is a FN AMG. Then also say they dont need an Umbrella. Because, and we can see it, they think that? If sued? They can walk in and say "Poor old person on a FIXED INCOME! Case dismissed! Take what they gave you! No you cant take my HOUSE! THAT IS MY HOUSE AND HAS NOTHING TO DO WITH THIS!".

[PCDelorian]

In England minimum coverage is £1, 200, 000 third-party liability for property damage and an unlimited amount for personal injury.

[fatherofkids]

Exactly why I have under insured and uninsured motorist insurance. If some fool doesn't have enough insurance my insurance will cover it.

[asjmpickle]

It's weird hearing about this stuff as a New Zealander where insurance is optional and insurance is just to cover the vehicles that get damaged...

[LordVis]

What this short doesn't mention (but I guarantee he covered in the full length) is UIM or uninsured motorist
That is a coverage YOU get on YOUR insurance to protect YOU in case the person who hits you has shitty insurance.

[bekr]

As an Austrian that’s a very low amount per incident, per law the minimum here is 7, 6 Million Euro.

[onirem]

American insurance in a nutshell, the insurance company keeps as much as they can legally get away with

[mulvimanz]

I hate the high prices for everything in Canada, but one thing I agree is that standard liability is 1 million dollars for car insurance and we have socialized healthcare. No way can 25k cover any US medical bills

[JohannesK]

This little amount is crazy if you consider the legal minimum in Germany of 7, 5 mio. euro for personal injury and 1, 2 mio. euro for property damage. (in most cases even significantly higher (e.g. my e-scooter must have insurance and it is insured for 100 mio. euro for personal injury (max. 15 mio. per person; insurance costs per YEAR: ca. 40 EUR)))

[samplautz]

I love how he puts his hand on his chest when he says the amount, as if that’s what he has lol

[emericburton]

Here in Quebec Canada if you get injured in a car accident, the government pays for it. Car insurance is only for the damage to the cars

[TheDjcarter]

And the other thing is they have MINIMUM coverage for a reason, they dont have any money so you can win a million dollar award the most you will ever see is $50k.