Get umbrella insurance... This will solve your too low problem because it will require you to raise it
I feel dumb. What is umbrella insurance and is it more cost effective
Insurance and cost effective should not be said in the same sentence. But yes it's more cost effective if something really bad happens. otherwise it's throwing away more money.
Isnβt that lower than minimum requirement for coverage? I have 100/300/100
Thats WA state minimum
You donβt want your insurance to be vastly lower then your TC. If they find where you work and assume your TC they will sue you for the difference and youβll be able to pay.
What you have is minimum coverage basically. The m3 will rape you on premiums unless you are a 60 year old with no claims over the last 3 decades.
100/300/100
OP is soooooooo Indian.
Again with this umbrella thing. My insurance game is lagging
Open Table is 100% right. You need enough coverage to cover your current and future assets (that can be estimated based on your current salary). If you ever get into a bad accident, the injured party can easily sue you and get a judgement that you may have to pay the rest of your life. I rear-ended a pregnant woman. She was fine, the baby was born healthy many months after. The demand from her layer was for $110K. (Not sure how much the insurance will be paying out...but imagine if the woman and baby were not fine.)
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100/300/100