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Are Your Auto Insurance Limits High Enough?
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California's minimum required limits of liability are 15/30/5. |
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| Is that sufficient to protect you and your family? We think not!
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 If you are involved in an accident and you have a $5,000 property damage limit, and think it is enough, consider this. The cost to put a new car on the road today is about $15,000 and up. If you are involved in a fender bender, and responsible for the accident, your minimum limit is probably enough. But if the vehicle is totaled, you would have to pay the additional $10,000 out of pocket, plus fixing or replacing your own car. And, there are other types of property damage that could occur in the same accident, such as a collision with a utility pole or a house. What if there are more cars involved, as is quite often the case in freeway mishaps? Well, you get the picture! |
| Then there is the issue of bodily injury, a $15,000 per person minimum limit requirement and $30,000 per accident. In the event you are involved in an at fault fender bender and cause minor injury to one or two people the 15/30 may be O.K. But what if there are more people injured? What if injuries are major and require a stay in the hospital or long term rehabilitation, or both? With medical expenses as high as they are today, and rising, it does not take much to exhaust a 15/30 limit. And, being liable for those expenses could create an enormous financial burden for you and your family. |
| There is also the risk from the people driving around without insurance. Uninsured Motorist coverage is not required by the state, but we believe it is a must have coverage. Let's say you are involved in an accident caused by another party and they have neither the insurance nor resources to cover the damage done to your vehicle or person. How would you cope financially? How would you pay the medical bills? How would you replace your car? More pressure on family resources! |
| Fact! Insurance is purchased to protect family resources, assets and dreams. Will the minimum limits of 15/30/5 do that? If your answer is no, you are right! Don't allow an auto mishap to shatter your family finances and deplete your assets. Consider coverages and limits that will protect you, your family and your dreams! |
