this post was submitted on 10 Dec 2025
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It doesn't really matter either way. If you have 50k cash or a 50k insurance limit. The other party can settle for 50k or they can try to get more through sueing you. If they get a judgement for more than 50k (likely after years) then you have to pay, but if you don't have a million dollars, they aren't getting it anyway. From there they can agree to a payment plan or try to garnish wages or place line.
Sounds wild to me. In UK the third party liability insurance limit is usually in the millions.
It's the difference between minimums and maximums. In most American states you have to have $50,000 worth of liability insurance to legally drive, which covers the majority of financial consequences for accidents.
That being said, now that cheap cars are $35,000 brand new, it might be a smart thing if you're an American driver to have $100,000 or $125,000 worth of liability insurance to keep yourself from going bankrupt.
The extra $100 a year for that coverage would totally be worth it if you ever have to use it.