▲ 672 ▼ Scams upon Scams (lemmy.dbzer0.com) submitted 11 months ago by Stamets@lemmy.dbzer0.com to c/whitepeopletwitter@sh.itjust.works 160 comments fedilink hide all child comments
[–] GiveOver@feddit.uk 2 points 11 months ago (3 children) What if you hit a lambo? permalink fedilink source parent hideshow 3 child comments replies: [–] ryathal@sh.itjust.works 2 points 11 months ago (2 children) It doesn't really matter either way. If you have 50k cash or a 50k insurance limit. The other party can settle for 50k or they can try to get more through sueing you. If they get a judgement for more than 50k (likely after years) then you have to pay, but if you don't have a million dollars, they aren't getting it anyway. From there they can agree to a payment plan or try to garnish wages or place line. permalink fedilink source parent hideshow 2 child comments replies: [–] GiveOver@feddit.uk 2 points 11 months ago (1 child) Sounds wild to me. In UK the third party liability insurance limit is usually in the millions. permalink fedilink source parent hideshow 1 child comment replies: [–] bizarroland@lemmy.world 3 points 11 months ago It's the difference between minimums and maximums. In most American states you have to have $50,000 worth of liability insurance to legally drive, which covers the majority of financial consequences for accidents. That being said, now that cheap cars are $35,000 brand new, it might be a smart thing if you're an American driver to have $100,000 or $125,000 worth of liability insurance to keep yourself from going bankrupt. The extra $100 a year for that coverage would totally be worth it if you ever have to use it. permalink fedilink source parent
[–] ryathal@sh.itjust.works 2 points 11 months ago (2 children) It doesn't really matter either way. If you have 50k cash or a 50k insurance limit. The other party can settle for 50k or they can try to get more through sueing you. If they get a judgement for more than 50k (likely after years) then you have to pay, but if you don't have a million dollars, they aren't getting it anyway. From there they can agree to a payment plan or try to garnish wages or place line. permalink fedilink source parent hideshow 2 child comments replies: [–] GiveOver@feddit.uk 2 points 11 months ago (1 child) Sounds wild to me. In UK the third party liability insurance limit is usually in the millions. permalink fedilink source parent hideshow 1 child comment replies: [–] bizarroland@lemmy.world 3 points 11 months ago It's the difference between minimums and maximums. In most American states you have to have $50,000 worth of liability insurance to legally drive, which covers the majority of financial consequences for accidents. That being said, now that cheap cars are $35,000 brand new, it might be a smart thing if you're an American driver to have $100,000 or $125,000 worth of liability insurance to keep yourself from going bankrupt. The extra $100 a year for that coverage would totally be worth it if you ever have to use it. permalink fedilink source parent
[–] GiveOver@feddit.uk 2 points 11 months ago (1 child) Sounds wild to me. In UK the third party liability insurance limit is usually in the millions. permalink fedilink source parent hideshow 1 child comment replies: [–] bizarroland@lemmy.world 3 points 11 months ago It's the difference between minimums and maximums. In most American states you have to have $50,000 worth of liability insurance to legally drive, which covers the majority of financial consequences for accidents. That being said, now that cheap cars are $35,000 brand new, it might be a smart thing if you're an American driver to have $100,000 or $125,000 worth of liability insurance to keep yourself from going bankrupt. The extra $100 a year for that coverage would totally be worth it if you ever have to use it. permalink fedilink source parent
[–] bizarroland@lemmy.world 3 points 11 months ago It's the difference between minimums and maximums. In most American states you have to have $50,000 worth of liability insurance to legally drive, which covers the majority of financial consequences for accidents. That being said, now that cheap cars are $35,000 brand new, it might be a smart thing if you're an American driver to have $100,000 or $125,000 worth of liability insurance to keep yourself from going bankrupt. The extra $100 a year for that coverage would totally be worth it if you ever have to use it. permalink fedilink source parent
