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Geico Insurance coverage
I was doing the bills this morning and realized my geico payment was a good few dollars cheaper than last premium, so I went looking into what I can add for coverage. I already halved my comprehensive deductible (not all that expensive), and halving my collision would only pay off if I got in an accident within the next year. Property liability was already maxed at 100k, so I kicked up medical and uninsured liabilities.
Wait a minute, property liability was already maxed at 100k. What does that mean? If I am responsible for totaling a vehicle costing >$100k, my ass is hanging out in the open. Is that right? Where I live, MOST cars are much more expensive than mine. Speaking BMW alone (which is probably the most popular single brand here), most are probably comfortably under $100k, but the 6's, 7's, and M's here definitely have me scared. Not to mention the (very common) Porches and your occasional Lambo or Ferrari.
Realistically, the chance of hitting a car new enough and with an MSRP high enough that my liability would be >$100k is pretty low, but given the area, within 5 miles of home it's legitimately maybe 5-10%, which is sort of a scary lottery to play. I'm a clean driver with no collisions at-fault or otherwise, but statistically it'll happen sooner or later.
Anyone have any experience with this from either end, especially with liabilities at the end of what the insurer even offers?
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