Quote:
Originally Posted by ncM
Even if you have a loan or lease, not clear to me why people buy more coverage than the minimum title holder requires. Maybe my math is off?
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Because some people are frauds and will cause an accident intentionally, and make it seem like you did it, (sometimes with groups of cars), and then fake injuries. Or you could just have really bad luck and kill someone.
You can find video examples all over the internet. IMO, you can never have too much insurance. But you could always be under insured. A court could go after your earnings and assets in the worst scenario.
I keep $1,000,000 of liability coverage through an umbrella policy and it's dirt cheap.