insurance - Page 3 - 6SpeedOnline - Porsche Forum and Luxury Car Resource

Nov 24, 2015 | 11:46 AM

#31

BoxsterG

Registered User

Joined: Oct 2009

Posts: 158

From: Texas

Rep Power: 23

Quote:

Originally Posted by shifter_

I would never drive with a 100k limit.

what happens if you cause an accident and God-forbid someone ends up dead and their family sues you for millions because you drive a 911 Turbo?

100k isn't going to go very far and you could be paying tons out of pocket.

I have a 500k limit plus a 2M umbrella.

Yep, you can keep the 100K but add the Umnbrella as it is very cheap for 1M or 2M.

Nov 24, 2015 | 12:31 PM

#32

Visceral

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Joined: Apr 2008

Posts: 391

From: Portland, Oregon

Rep Power: 88

Quote:

Originally Posted by BoxsterG

Yep, you can keep the 100K but add the Umnbrella as it is very cheap for 1M or 2M.

My experience has been that most companies wont let you add umbrella coverage until you max out your auto limits (200/500 in my case). No big deal as it's not as expensive as it sounds.

But if you have homes, 401k's, portfolios, whatever, and don't have amazing attorneys on retainer, I would wholeheartedly recommend something much more than a 100k limit.

Dec 9, 2015 | 07:00 PM

#33

tommyboy214

Registered User

Joined: Feb 2012

Posts: 986

From: Boston MA

Rep Power: 108

Tough break on the track...dummy for lying.

http://www.presstelegram.com/general...ing-to-insurer

Dec 10, 2015 | 12:42 PM

#34

guab

Registered User

Joined: Feb 2014

Posts: 198

From: Scottsdale, AZ

Rep Power: 25

Quote:

Originally Posted by Visceral

My experience has been that most companies wont let you add umbrella coverage until you max out your auto limits (200/500 in my case). No big deal as it's not as expensive as it sounds. But if you have homes, 401k's, portfolios, whatever, and don't have amazing attorneys on retainer, I would wholeheartedly recommend something much more than a 100k limit.

401k typically can't be touched I thought. Agree on all other points. I carry an umbrella equal to 100% of reachable assets to be safe.

Dec 10, 2015 | 04:26 PM

#35

sdg1871

Registered User

Joined: Dec 2014

Posts: 2,202

From: New York City

Rep Power: 172

Quote:

Originally Posted by tommyboy214

Tough break on the track...dummy for lying.

http://www.presstelegram.com/general...ing-to-insurer

For sure. If I track I buy track insurance. I have done insurance coverage litigation representing both insurer and corporate policy holders for 20 years. If there is a big loss I can assure you an insurance company will mount an investigation to try to find a reason to get out of it. This is why lying is not an option.

Lying to an insurer on a claim is a very very bad decision and can expose you to the kind of criminal charges that this guy is facing.