[MRM]

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.