Insurance is totaling my truck.

[83burban]

jdurant - I don't want to turn this guys thread into an argument - but I completely disagree with you, and even loath drivers who choose to get insurance that just "meets" state minimums.

What most people forget is that insurance is not just about getting money back for your possessions - yes this is very important and I think everyone is entitled to the fair value of their vehicle - however, the real reason you should get the best insurance you can afford is to protect yourself against lawsuits.

In today's world - you can be sued even if the accident isn't your fault - and if your policy is the minimum - you will likely get screwed. Even though I am in college, I carry an umbrella policy that I pay for out of pocket just in case I have an accident in my car or at my house when throwing a kegger.

Case when this is necessary. I was involved in a 2 car crash that was my fault when I was 17. There were a total of 11 people involved with lawsuits against me - and since I was a minor - my parents. I got sued by vehicle owner, parents of the other kids, and in California when a minor turns 18 they can sue on their own behalf. Needless to say, If it weren't for my families larger policies, my parents would have had to pay out of pocket for that one accident to the tune of a large 6 figures.

When you carry minimum insurance, you open yourself to being sued big time. Your insurance will pay liability claims up to your limit which is likely only 15/30 thousand, and if the costs are more than that - YOU are liable for every penny. You can easily get sued and loose everything. You also screw the other driver if their costs are greater than your policies coverages - since they will have to retain a lawyer to go after your possession to get compensated for your accident - compensation that they are owed and will become a lengthy process to recover.

I am not advocating getting the biggest policy in the world, but you should seriously reconsider your liability coverages. I don't have collision on my policy since I don't think its necessary now, but I do carry comprehensive in case of theft or fire.

Sorry for the spiel, not trying to dock you, just trying to help you out.