Hagerty "Stated Value" policy, here, too. Think mine is $342/yr for full coverage on $18K w/ increased liability and med pay limits ($300K), based on the policy values we have on our home and daily drivers through our other agent.
We wanted higher liability and med-pay limits because we had firsthand experience, about four years ago, when our middle son was nearly killed in an accident (no fault of his own) and racked up a $280K medical bill. Our medical insurance duked it out with the "at-fault" driver's insurance and, when it was all said and done, our out-of-pocket expense was actually quite minimal... but still, if the tables had been turned, if you don't have enough coverage... they're gonna get their money out of you one way or the other. Better to have a little higher premium than risk your home. I know that may sound a little extreme or overboard to some, but guys, there's a reason they call them "accidents".
Not an insurance agent,... just a little ol' plumber who's been around the block a few times.
Kevin
We wanted higher liability and med-pay limits because we had firsthand experience, about four years ago, when our middle son was nearly killed in an accident (no fault of his own) and racked up a $280K medical bill. Our medical insurance duked it out with the "at-fault" driver's insurance and, when it was all said and done, our out-of-pocket expense was actually quite minimal... but still, if the tables had been turned, if you don't have enough coverage... they're gonna get their money out of you one way or the other. Better to have a little higher premium than risk your home. I know that may sound a little extreme or overboard to some, but guys, there's a reason they call them "accidents".
Not an insurance agent,... just a little ol' plumber who's been around the block a few times.
Kevin
