Quote:
Originally Posted by Dave-ROR
True.
I run 100/300/100 here (with 100/300 UM) and have been thinking about going to 250/500/100 (and 250/500 UM). Worth the change?
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It just depends on how much extra it costs, more so than whether you need it or not. For example, I had mentioned that I currently have a $1.5 million coverage limit, but it's not like I own a bunch of stuff. I just did it because it wasn't really that much more expensive, plus I knew how to bundle it since I'm essentially my own agent. For example, you do pay extra for the $1 million umbrella, but since my auto and umbrella policies were through the same carrier, both of them get discounted to the point where the price change was negligible.
In your case, it's all relative... if it's only a few more dollars a month, then sure, why not. But if you're open to options for higher coverage, look at a 500 CSL ($500,000 combined single limit), which is what I have on my auto policy. Rather than having specific limits for each per person/per occurrence/property damage liability claim, it lets the total liability limit be any combination as long as it doesn't exceed that amount. So for example, if you had 100/300/100 (or even 250/500/100) and you totaled a Lamborghini, that $100,000 property damage limit isn't going to be enough, unless it was a beat up Countach that you hit. Obviously those types of claims are less likely, but it's up to you. I live and work within a few miles of Ferrari, Lamborghini, Tesla, Porsche, etc. dealerships, so it's not exactly uncommon for me to see a car that is worth more than what I'll make collectively in the next few years.
Since you're in North Carolina, double-check your policy... I know you said you had 100/300 UMBI limits, but make sure that you actually have 100/300 UMBI/UIMBI limits, not just UMBI. UM is uninsured motorist, UIM is underinsured motorist. If you don't have it already, just have your agent add it on, it shouldn't cost much more. Oddly in North Carolina, you have to have 50/100 or higher to get it, since if you have only 30/60, you can only get UMBI for whatever reason. You're in one of the few states where the two types of coverages are separated.