Quote:
Originally Posted by TheSutterDynasty
$1 million.
I heard somewhere that the highest someone has been liable for in a car accident in Alberta was still below $1 million so $2 million was unnecessary. But don't quote me on that.
|
A family member is a claims adjuster. She says it is becoming common for individuals to be sued for amounts over and above the policy limits. This is mainly because a millions dollars doesn't go as far as it used to.
She recommends an umbrella policy as apparently this is much cheaper than increasing limits on auto/home insurance. Umbrella policies make sense if you have significant assets they could go after.