True or False: Some insurance companies offer coverage limits as high as $1,000,000.

Insurance companies often provide coverage options that can reach up to $1,000,000 or even higher, depending on the type of policy and the specific needs of the insured. High limits like these are particularly relevant for individuals or businesses that have substantial assets to protect or face higher risks. For instance, in the case of commercial policies, such as those for trucking or transport companies, there is often a need for higher liability limits due to the potential for significant claims resulting from accidents.

This option reflects the flexibility within the insurance market where providers recognize that different customers require different levels of coverage to adequately protect themselves. Personal auto policies might have lower standard limits, but many insurers can and do offer higher limits on request, illustrating the broad range of options available in the market. Therefore, some insurance companies indeed provide these higher coverage limits, affirming the statement as true.