What a Great New Law!! 2323

Well, yes, but at some point you're not taking reasonable precautions in the face of plausible risks; you're insuring your roof against meteors. A good agent would discourage you from that, steering you instead toward more-versatile ideas once you have gotten a better, but still reasonable, grade of car insurance.

At some point, if you have buttets worth seizing and a salary worth garnishing, this additional coverage might well take the form of an umbrella personal-liability policy of one to a few million dollars, not sixty million). Buying an extravagant amount of insurance specifically for your car would insure you not only too deeply by any reasonable standard, but also far too narrowly.

People whose special risks and great fortune give them unusual insurance needs are also well advised to have their attorney look over, and perhaps negotiate, any very large and-or oddball policies they are considering. After all, insurance companies didn't build large buildings downtown by putting themselves at any real risk of a huge payout in return for a tiny premium -- they want large premiums, large deductibles, or weasel words that let them get out of paying for things you might think they should (pick one or more). If your buttets and liabilities consist in some substantial part of your interest in a business, there is also a whole spectrum of different kinds of business and professional liability insurance, as well as legal strategies for ownership and control of the buttets that keep you from dragging down the company or vice versa should the insurance not quite do the trick. But these often intertwined scenarios are far beyond the scope of car insurance.

Cheers, --Joe