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Yes, the awards can get big when there are deep pockets like potentially the defendants in the case you mentioned. One thing is that it's just not feasible for an individual to get insurance much above the $5MM, maybe $10MM, in terms of umbrella policies. Insurers just aren't handing out policies like that everyday and they're very expensive. Also, many or most plantiff's lawyers will look to deep pockets, since they get paid on contingency, thus individuals may escape the wrath.
I agree though, your Cobra, all your cars for that matter, if possible, should be insured under the/an umbrella policy or insurance, though that would require your main car and/or home insurer to underwrite the special insurance for your Cobra to be included, which may or may not happen. Then companies like AAA and State Farm will have to charge more premium to the insured in order to cover the special insurance policy issued for your Cobra from Haggerty, for example.
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