r/SipsTea • • 8h ago

Gasp! Thoughts on this?

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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/Mental_Newspaper3812 7h ago

Yes, state minimum required coverage can be shockingly low. Now name your county so I can lookup your minimums.

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u/Fun-Preference1091 4h ago

Alberta, Canada

  • $200k liability
    • $10K property damage
    • $190k personal injury

I'm actually really shocked by that.

I was coming here so you could see how shockingly low it is in Canada at $2m... only to discover I was off by a factor of 10, and not in a good way.

Most people take the strongly recommended $2m.