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Great question but there's no answer. This is ultimately up to the consumer - you need to know what can happen and how much it can cost, and work with your agent for pricing of various limits and deductibles, forms and insurance companies. Then, you decide - and you'd be surprised at how little a higher limit can cost.
Most claims are smaller, so higher limits don't cost as much as the basic limit might. I always recommend as much coverage as you can comfortably afford and which suits your particular situation.
What else can I help you with?
What is the minimum liability insurance coverage for Florida dentists?
There is no minimum. They can buy whatever insurance limits they want, or they can buy none at all.
Can you buy insurance for tsunamis?
I know they have flood insurance.
What is deductible buy down insurance?
A standard insurance policy provides for deductibles (or excess) clause, i.e., a claim is settled by the insurer only in excess of the limits specified under this clause. The insured can buy supplemental insurance to cover a part or full of this "deductible" amount. This supplemental insurance is called deductible buy down insurance.
How do you determine how much health insurance you need?
I think everyone should get health insurance. Use a well-known insurance company and buy comprehensive insurance that has a lifetime max over $2M. Make sure your plan has pharmacy coverage. The healthier and wealthier you are, the more you can afford to have a plan with a high deductible and a higher out-of-pocket maximum. Ask yourself what is the most you can afford to pay in health care expenses in a year and then buy a plan with an out-of-pocket max that is less than that. Some plans have benefit limits (for physical therapy, etc.). If you know you will need these services, avoid plans with limits for the services you know you will need. When in doubt, buy the insurance plan with more coverage. Try this site where you can get quotes from different companies usinsurancequote.org
Do you have to have car insurance in Wisconsin?
All states require Financial Responsiblitly. Most people do not have the amount of money in reserve to meet the min. limits, therefore we buy insurance instead.
What should I know about dental insurance before taking some out?
You should inquire about the limits of the policy. Also the amount of the premiums.
Can a contractor force their subcontractor to raise their car insurance premium?
I think you mean can a general contracto force their subcontractor to raise their car insurance coverage limits. Some people choose to buy insurance with very low limits which do not provide a lot of protection. If you work for someone like a general contractor they can require you have a certain level of insurance. The reason they might do this is because they may have insurance that starts at a certain dollar limit. For example You buy insurance which covers damage cause if you car hits someone up to $25,000. The contractor may have insurance that starts at $50,000. This means that you would need insurance that covers up to $50,000 and the the contractors insurance would start paying after $50,000. Premium is the money you pay to purchase a policy. If you increase your coverage limits from say $25,000 to $50,000 it will of course increase your premium cost.
How do you buy car insurance before you buy the car?
It may not be necessary, I would wait til you know what the car is.
Can your son buy your homeowners insurance?
No, but if he owns a home he can buy his own insurance, or he can buy tenants insurance if he does not.
What are Globe Life insurance coverage limits?
Globe Life's insurance coverage limits depends on the type of policy you hold. Some life insurance, depending on the policy and person can cover upwards of $5 million!
Is Life Insurance Company of the Southwest FDIC insured?
FDIC only insures bank deposits. Insurance company obligations are insured to certain limits by state insurance guarantee boards. If you contact your state insurance department, they can provide you with the limits of that state's coverage.
If you buy a sink hole house that was fixed can you buy insurance?
All you have to do is start making calls to the insurance companies doing business in your area. Disclose all that you know about the house to the insurance company and I am sure that you will find some that will be willing to insure your home.
