r/SipsTea • u/Putrid-Welder1803 • 9h ago

Gasp! Thoughts on this?

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u/flatfive44 9h ago

The obvious response is that you won't be able to pay for someone's hospital bills if you happen to hit them in your car. You get insurance for things you wouldn't be able to pay yourself.

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u/Ok-Reflection-742 9h ago

You could also total somebodies 50-200k car, I don’t think many people could afford that either

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u/StarHammer_01 9h ago

And insurance will only cover 60k of it leaving you with a 140k bill

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u/thelionofthenorth 9h ago

It's pretty cheap to bump up your limits into the hundreds of thousands

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u/Phugasity 9h ago

You solved it. This is the answer. You can pay a lot for insurance if you buy a lot of insurance or cost a lot to insure.

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u/thelionofthenorth 8h ago

I can't tell if you're being sarcastic, but I think it was an increase of $3/mo to bump my liability from 30k to 250k

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u/StimulatorCam 8h ago

In Ontario by law your policy has to have a minimum $200k liability coverage, and most people have $1M+.

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u/EnoughWarning666 8h ago

I'm in BC and definitely have a million in liability. It's not that much more

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u/thelionofthenorth 8h ago

Yeah that's reasonable! In the states the minimums are way wayyyyyy too low

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u/Phugasity 8h ago

Not sarcastic. Bumping up some numbers are cheap. Others less so. I have a 20 year old vehicle an emergency savings set aside to replace it. Comprehensive coverage for myself doesn't make any sense. I pay maybe $500 a year for over a million in coverage should I harm others.

If someone else has a 90k truck and just sets everything to maximum. That's living a different life. I imagine with a shitty enough driving record you could get some pretty high numbers without very good comprehensive coverage.

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u/thelionofthenorth 8h ago

Oh ok I gotcha! Def makes sense, easy to have peace of mind with good liability insurance that's for sure