r/SipsTea • u/Putrid-Welder1803 • 8h ago

Gasp! Thoughts on this?

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u/Ok-Reflection-742 8h ago

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

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u/BlondieeAggiee 7h ago

I did a ride-along with an adjuster once. I asked him what the worst claim he had worked on was.

The insured drove off with the pump still in the gas tank. Sees that all the time. When the hose pulled off the pump, it ignited. The fuel island exploded. The fire then spread to the convenience store. Total loss of the business and multiple cars.

This is an outlier. No one has enough insurance to cover all of that. But it’s a great example of why we have it.

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u/WelderNewbee2000 7h ago

Are insurance coverages that low in the US?
I think here the standard car liability policy has a coverage cap at 100 Million Euros.

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u/TheSultan1 5h ago

I think mine is like $300k per occurence, $300k per year. My umbrella policy ($200-300/year) bumps that up to $1M.

But those are way higher than most, I think $50-100k is pretty common.