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ike1414 t1_jeffpwr wrote

Reply to comment by alexm2816 in How Much Car Insurance Should I Get Given High Net Worth as a College Student? by [deleted]

The only "problem" with umbrella is that you typically have to have the max, or close to it, liability coverage on things like auto. So that could make the cost less cheap if they don't already have a larger liability coverage.

But in general umbrella itself is pretty cheap.

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alexm2816 t1_jefh2vd wrote

Right. It's not 'in lieu of' but rather in addition to.

OP is going to be paying $190/month for protection from his most likey avenue of liability (the car) but in my instance for $15/month I get $1M of additional protection that follows me around in the car or in a borrowed car or in a rental car or walking my dog or anything I do without malice/criminal intent. For OP to get their hands on an extra quarter million would be peanuts just in case someone decides 'hey, OP has some bucks let's pull some stuff'.

I need to carry 300/500/300 insurance but it sounds like that's what op is describing.

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