This is the dumbest guy on FU Wrote:
-------------------------------------------------------
> who car insurance protects Wrote:
> --------------------------------------------------
> -----
> > No really, you're a retard Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > who car insurance protects Wrote:
> > >
> >
> --------------------------------------------------
>
> >
> > > -----
> > > > You are a moron Wrote:
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > > -----
> > > > > who car insurance protects Wrote:
> > > > >
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > >
> > > > > -----
> > > > > > hope an uninsured driver hits U Wrote:
> > > > > >
> > > > >
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > >
> > > > >
> > > > > > -----
> > > > > > > who car insurance protects Wrote:
> > > > > > >
> > > > > >
> > > > >
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > >
> > > > >
> > > > > >
> > > > > > > -----
> > > > > > > > Putting aside the racist vitriol,
> car
> > > > > > insurance
> > > > > > > > protects those who have assets they
> > > could
> > > > > > lose
> > > > > > > if
> > > > > > > > they are sued for an accident they
> > are
> > > at
> > > > > > fault
> > > > > > > > for. If someone doesn't have a lot
> of
> > > > > assets,
> > > > > > a
> > > > > > > $1
> > > > > > > > million dollar judgement against
> them
> > > > > doesn't
> > > > > > > > really mean much as bankruptcy
> could
> > > > simply
> > > > > > > wipe
> > > > > > > > it away.
> > > > > > > >
> > > > > > > > It is why it is a good idea to:
> > > > > > > >
> > > > > > > > 1) Buy car insurance that has
> > coverage
> > > > > valued
> > > > > > > at
> > > > > > > > around your net worth.
> > > > > > > > 2) Don't assume someone who
> injuries
> > > you
> > > > > with
> > > > > > > an
> > > > > > > > accident they are at fault for has
> > the
> > > > > means
> > > > > > to
> > > > > > > > make you whole, either through
> > > insurance
> > > > or
> > > > > > > > through a lawsuit. Invest in some
> > > > > disability
> > > > > > > > insurance, and see about getting a
> > > > > Uninsured
> > > > > > > > motorist coverage rider on your own
> > car
> > > > > > > insurance
> > > > > > > > policy.
> > > > > > >
> > > > > > > No, insurance is a REQUIREMENT to
> > operate
> > > a
> > > > > > > vehicle legally so that should you
> > INJURE
> > > > > > another
> > > > > > > party, you will have access to
> > sufficient
> > > > > funds
> > > > > > to
> > > > > > > make amends. It has absolutely
> nothing
> > > to
> > > > do
> > > > > > with
> > > > > > > one's net worth, and everything to do
> > > with
> > > > > > > protecting the public from reckless
> > > drivers.
> > > >
> > > > > > It's
> > > > > > > not an option, and it isn't
> predicated
> > > > one's
> > > > > > > "assets."
> > > > > >
> > > > > > 1) As pointed out above, insurance
> isn't
> > a
> > > > > > requirement in Virginia. We're kinda
> > crazy
> > > > that
> > > > > > way here.
> > > > > > 2) The minimum requirements for
> insurance
> > > in
> > > > > other
> > > > > > states is a joke. In Maryland it is
> > $30,000
> > > > > > minimum per person / $60,000 minimum
> per
> > > > > accident.
> > > > > > So never count on someone else's
> > insurance
> > > to
> > > > > > cover major injury.
> > > > > >
> > > > > > For instance, let's say you get minimum
> > > > > coverage
> > > > > > and have a net worth of $2 million. You
> > hit
> > > > > > someone, its your fault, and you end
> > > > someone's
> > > > > > $100k a year career with a grave bodily
> > > > injury.
> > > > > > They could easily sue you for $2
> million,
> > > and
> > > > > your
> > > > > > $30k worth of liability coverage will
> > only
> > > be
> > > > a
> > > > > > drop in the bucket toward what you are
> on
> > > the
> > > > > hook
> > > > > > for. Now on the other hand, lets say
> you
> > > only
> > > > > have
> > > > > > a net worth of $5k. Well, the $2
> million
> > > > > judgement
> > > > > > comes in and you declare bankruptcy.
> The
> > > > other
> > > > > > driver is effectively screwed, because
> > you
> > > > > can't
> > > > > > squeeze blood out of a rock.
> > > > > >
> > > > > > The key lessons.
> > > > > > 1) As your net worth grows, upgrade
> your
> > > > > insurance
> > > > > > coverage accordingly. An umbrella
> policy
> > is
> > > a
> > > > > good
> > > > > > choice. A $1 million personal liability
> > > > policy
> > > > > > over our car insurance is only $187 a
> > year
> > > > for
> > > > > us,
> > > > > > and covers all other sorts of
> > liabilities.
> > > > > >
> > > > > > 2) Don't assume someone else's
> insurance
> > > will
> > > > > make
> > > > > > you whole in a nasty accident.
> Disability
> > > > > > insurance is a very good idea, as is
> > making
> > > > sure
> > > > > a
> > > > > > Uninsured Motorist Coverage rider is on
> > > your
> > > > > > policy good for a couple hundred
> > thousand.
> > > > > > Finally, if you have dependents that
> > depend
> > > > on
> > > > > > your income, life insurance is a very
> > good
> > > > > idea.
> > > > >
> > > > > You are a buffoon. "As your net worth
> > grows,
> > > > > upgrade your insurance accordingly."
> > Stupid,
> > > > even
> > > > > if your net worth is $1000, you can still
> > be
> > > > sued
> > > > > for $1,000,000, and every dollar you earn
> > for
> > > > the
> > > > > rest of your life will have a significant
> > > > portion
> > > > > of it withheld to pay of the decision
> > against
> > > > you.
> > > > > So go ahead and purchase minimum
> insurance
> > > if
> > > > > you're only making $30k a year - you'll
> be
> > > > making
> > > > > $15k a year after you lose your case and
> > your
> > > > > wages are garnished and/or everything you
> > own
> > > > is
> > > > > seized and sold.
> > > >
> > > > Ever heard of bankruptcy? Judgments in
> > general
> > > are
> > > > wiped clean, including judgments for auto
> > > > accidents.
> > > >
> > > > Of course, if you want to have a high
> > coverage
> > > > policy to better protect people you might
> > > > accidentally harm, sure, by all means.
> > There's
> > > > nothing wrong with that.
> > >
> > > That's a great strategy LOLOLOL - just
> declare
> > > bankruptcy, which is akin to suicide in the
> > 21st
> > > century. Want to ever lease again? Forget
> it.
> >
> > > Mortgage? Forget it. Most jobs? Forget it.
>
> > > Even insurance that you should have had to
> > begin
> > > with? Forget it. Declaring bankruptcy in
> 2019
> > is
> > > to relegate one's self to homelessness
> (unless
> > you
> > > have wealthy friends who are willing to help
> > you
> > > under the table, ricking you and them to
> > contempt
> > > of court).
> > >
> > > Seriously, you're a fucking idiot.
> >
> > Bankruptcy sucks, but if you have $5k to your
> name
> > and a $2 million dollar judgment over your
> head,
> > yeah, it is probably your only way out short of
> > suicide. Works best of course if you can find
> > harbor with a family member and employment with
> > folks you know.
> >
> > As I've mentioned multiple times, my main
> points
> > are:
> >
> > 1) Insurance is about financial loss prevention
> of
> > assets you have, and that it is a very good
> idea
> > to float up coverage as your wealth increases,
> > particularly to fend off frivolous lawsuits.
> But
> > if you want to add bankruptcy avoidance as a
> solid
> > reason for carrying a high value policy, then
> > sure, that's valid.
> >
> > 2) You can't count on someone injuring you in
> an
> > accident to be able to make you whole. The
> state
> > minimums for drivers are crazy low
> >
>
https://www.nerdwallet.com/blog/insurance/car-insu
>
> > rance/. So it is a good idea to have a high
> > Uninsured Motorist Coverage amount, because a
> $2
> > million judgment against someone with minimum
> > insurance won't be worth much.
>
> And that $2m judgement against you would be
> covered if...you had adequate insurance.
>
> We've come full circle; you began with a rebuttal,
> and ended in agreement - that's how faulty your
> argument was.
Not quite. It can take a lifetime to save up $2 million. Losing it in 30 seconds because of a dumb mistake probably hurts more than declaring bankruptcy with little savings to lose. I look at my net worth and don't just see $$$, bu tall the late nights and sacrifice that went into it. Hence why I make sure my insurance coverage matches my net worth.