[fazman]

Originally Posted by Rennsport3.2

LOL @ driving an M4 with state minimum liability coverage. Be sure to familiarize yourself with the process of subrogation so that you won't be as confused when the insurance company of the party you hit comes after you for everything you have...and don't be surprised when your insurance company turns their back after they pay their $50k on a $100k claim. Do you have $50k in the bank? $100k? $150k? It's okay, they will make payment arrangements with you after your credit score has been obliterated. The good news is that you could always file for bankruptcy and be clean again in seven years.

When I worked as an insurance claims adjuster, I had a claim where one of our clients had a bad reaction to some medication and passed out behind the wheel of his truck. He hit five parked cars, including a Bentley. He had state minimum coverage, which was 15/30 in his state. He woke up in a hospital several days later ~$130k in debt...

they can only sue you for what you are worth... if you have nothing then its like trying to get blood from a stone. Just tell them to get in line with everyone else you already owe

[John 070]

I don't know how else to explain this....insurance agents will always allow you to over insure, the co makes more this way. They will never pay out more than something is worth (this happens all the time with diamond engagement rings).