Q: Our GA auto insurance is getting ridiculously high and we want to lower the bodily injury limits from 250,000/500,000.
If we do that, we lose our $1,000,000 umbrella coverage. If we then have an at fault accident and someone dies, and they sue us, can they take our house and IRA investments?
A: Unlikely but that's why you have insurance--to minimize risk. However look first at the policy. Would reducing it make that big a difference? Per month? I ask because the biggest hit is for zero to 25.
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