I've heard that I should increase my coverage limits if I own a home. Is that true?
2007-10-28 12:37:07 · 4 answers · asked by Ken 1 in Business & Finance ➔ Insurance
You need to insure yourself for what can be taken away from you. I recommend carrying limits that cover your net worth (including auto AND homeowners liability!!), PLUS three years wages.
That will usually keep you from having wages attached.
2007-10-28 12:48:41 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
1
2016-09-25 00:02:29 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Check with your agent on rates for an umbrella policy. It might be more cost efficient to get an umbrella liability policy than to raise your auto limits by themselves. It just depends ... you always have to run the numbers. But, I would suggest 300/500, if you're just going to raise the auto rates. Go with at LEAST that coverage.
2007-10-28 12:58:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, it's true. You should have at least 300,000 CSL. I would also check into an umbrella policy as well.
2007-10-28 13:11:46 · answer #4 · answered by Irish 7 · 0⤊ 0⤋