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What coverage do you have for 3 Porsches
We increased our auto liability coverage to $1M a few years ago thinking we should be adequately insured just in case we got into an accident & some idiot decides to go after "deep pockets." Now, that we've been paying these higher premiums & have been accident free for years, I am re-thinking this. I would be interested to hear what other daily Porsche drivers set their liability limits at besides the obvious of uninsured coverage. Your thoughts are appreciated.
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66 Shelby Hertz Renta-Racer 68 Shelby 500KR 78 Ferrrari 308 16 Macan S 11 Speedster |
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10-31-2020, 11:49 AM
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Join Date: Jun 2007
Location: Lake Oswego, OR
Posts: 6,062
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$2mm
And, under insured / uninsured coverage added to my umbrella. This is cheap. Do it. |
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10-31-2020, 12:32 PM
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Join Date: Jun 2008
Location: LEEDS ,UK
Posts: 2,169
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No insurance is rich mans insurance
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1986 924S bought new. Now used for AutoX and street. Chipped, throttle cam, highflow filter in original airbox/snorkel, 14mm rear sway Hyundai Ioniq hybrid daily driver Vindicator Vulcan V8 spyder, street legal sports racing car (300hp,1400 lbs kerb weight) used for sprints on circuits, and hillclimbs |
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10-31-2020, 01:19 PM
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Join Date: May 2017
Posts: 15,530
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2 million. It's cheap protection.
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10-31-2020, 01:28 PM
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Run the minimum auto coverage required that allows me to keep my umbrella policy. Different insurers have different minimum coverage requirements for their umbrella policies.
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10-31-2020, 04:37 PM
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Join Date: Aug 2000
Location: Palm Beach, Florida, USA
Posts: 7,713
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I have a $2 million umbrella that covers uninsured and underinsured motorist coverage, so if I get hit by someone I know I have at least $2 million in coverage available to me. I need to raise it to $3 million next year. I have State Farm and put my Porsche on their version of a collectors car coverage. It offers the same coverage as my primary vehicles with comprehensive and collision for less than Hagerty and the others dedicated to collectors cars wanted to charge for $500,000 in total coverage. The only limit is that I can drive something like 5,000 miles per year. I can increase that if I want, but unfortunately I never get the chance to drive it more than that.
I would strongly encourage everyone to have at least as much coverage with an especially careful eye toward underinsured and comprehensive coverage. It does not take much of an accident for a pedestrian to run up a multimillion dollar medical bill. And it doesn’t have to be your fault to put your personal assets at risk.
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MRM 1994 Carrera Last edited by MRM; 10-31-2020 at 06:30 PM.. |
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10-31-2020, 06:27 PM
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