Is there any downside to having too much car insurance coverage?

I was shopping around for insurance, and through my new provider I increased my liability from 250/500/250 to $1 million across the board. Is there any downside to having too much coverage?

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Eric Schad
Answered on May 04, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“There’s never any downside to upping your coverage. The only thing you should consider is whether or not you can afford it.
If you can afford full coverage plus high-limit liability coverage, you should take it.
Even if you end up paying more per month, it might save you from financial ruin if you’re in a catastrophic accident.”
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