Quote:
Originally Posted by Hi-TecDesigns
If I hit a new Z Touring with another Z Touring, totalling both (highway wrecks can easily get there), that's $80k in liability right there... suddenly that $25k seems a bit paltry to me. If it's a multi-car pile-up that you caused (it is an accident, so don't claim "I would never do that"), even $5k-$10k in damage per car would quickly add up.
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You're forgetting depreciation. 40K Z Touring is worth $35K as soon as you drive it off the lot, if not quite a bit less.
Also, there's the point (depending on your state) that liability falls within the scope of who's at fault, and, your insurance pays for the other guy's property.
By purchasing insurance at a higher rate, you're basically betting against yourself and your ability to drive and avoid an accident. Most cars on the road are well under 25K considering their depreciated value, so, there ya go.
If it makes you sleep better at night having more insurance, by all means.