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3 votes

Why is the mandated minimal liability car insurance coverage so high?

In the Great Heck rail accident in the UK on 28 February 2001, a driver, Gary Hart, fell asleep at the wheel. His car (a Land Rover) went off the motorway (freeway), through a fence, down an ...
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4 votes

Why is the mandated minimal liability car insurance coverage so high?

We had elective law in high school. The teacher, a judge, was good, I'm still profiting from it. One of the takeaways, derived from his daily practice: Get liability insurance as high as you can, ...
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3 votes

Why is the mandated minimal liability car insurance coverage so high?

All over the world, you need car insurance that covers the damages you do to others. In Austria and Germany, this insurance has to cover at least 7 790 000 € of damages. Isn't it a bit high? Car ...
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8 votes

Why is the mandated minimal liability car insurance coverage so high?

"Why is the mandated minimal liability car insurance coverage so high" I think the main reason is if the 'at fault' party has insufficient insurance and assets to cover the damages the ...
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6 votes

Why is the mandated minimal liability car insurance coverage so high?

In the USA: The limits are not arbitrary limits. Actuaries actually work out the risk of loss over large historical periods based upon state, county, age, gender, frequency, and severity. Legal costs ...
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24 votes

Why is the mandated minimal liability car insurance coverage so high?

It sounds perfectly reasonable to me, and I don't know why some countries allow people to drive with such low policy limits, when payouts for permanent life-changing injuries can be so high. Here in ...
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25 votes
Accepted

Why is the mandated minimal liability car insurance coverage so high?

I think you underestimate the costs of being found liable in an accident where someone is killed or seriously injured. You may be held responsible for the lifetime cost of care of someone on a ...
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