In my car insurance renewal, I noticed that the limit for "Liability for Property Damage" is only THB 1,000,000 (THB 1M). Upon checking with several different companies, I've found that this is the normal offered amount. However, it seems very low to me considering that most cars are easily worth much more than that and an accident may involve multiple cars, etc. On the other hand, I can't imagine most Somchai's having any more than this.
Is this what most people have? Also, has anyone been in an accident where the costs exceeded the insurance liability? If so, what happened? As a farang, should it be much higher?
Advice?