I carry $1M on my vehicle plus an umbrella policy of $4M.
That was the highest choice I had through my provider’s app. I might give them a call and see what else I can get.
I have a two million dollar umbrella policy.
The thing is, say I get sued for $100m. It’s great for my victims that I paid extra all these years for $5m in coverage, but I’m going bankrupt either way.
Indeed collision on an older vehicle often doesn’t make sense. And could result in your vehicle prematurely salvaged.
If you have many millions you need much different insurance than normal plebeians.
You want liability protection such that your assets (whether small or large) are unlikely to be impacted by a reasonably foreseeable outcome I.e. $300k of liability covers 55% of likely outcomes vs $3m covering 85%
Check the bogleheads forum for discussions on insurance.
This isn't universally true - I have an umbrella policy with USAA. They require me to have a minimum of coverage on my home and auto to have the umbrella policy, but it's not the maximum they offer. It's a couple tiers down.
Of course, the price for the umbrella policy might depend on your home/auto coverage.