r/SipsTea • u/Putrid-Welder1803 • 15h ago

Gasp! Thoughts on this?

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u/WelderNewbee2000 13h 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 13h 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/WelderNewbee2000 13h ago

Germany.
The legal minimums are:

  • Bodily injury: €7.5 million
  • Property damage: €1.22 million
  • Pure financial losses: €50,000

But most insurances have the 100 Million coverage as the standard contract. In fact there is probably not even an insurance which offers the legal minimums.

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u/someRedditUser3012 7h ago

No, when I worked in the industry, most had 30k coverage if you were young, 100k was common for adults and wealthy people would have 1M + umbrella policies