Originally Posted by
crazybikerchick
That's dirt cheap. No matter how little I drive I could not get mandatory liability insurance on an old car for that little. But it seems minimum liability amounts in the US are really low. Here $200,000 is required, $2 million is recommended. In States that have really low minimum insurance amounts, what happens when people are seriously injured (ie paraplegic) from an accident that was someone else's fault? Doesn't do any good to sue them if they have 0 money to their name.
Originally Posted by
Footsore Ramble
Good question. I don't know what would happen in that case.
I keep the absolute minimum required insurance on my car, because I use it very seldom (I also get some insurance discount for this reason). If I drove more, I would probably increase that, as well as spending more for fuel, so I can see numbers going up pretty quickly.
I was actually hoping it would be higher, so it would be easier for me to justify getting rid of it. I am still on the fence, as it is.
An insurance agent once told me that Canadians tend to buy much more coverage than the typical US customer. I was floored when I first arrived here, when you could buy liability insurance for $25,000. I think my agent was trying to tell me that if I didn't have much in the way of assets, this was enough coverage.