- Are Your Assets Protected?
This is a highly important question to ask yourself when it comes to reviewing your insurance coverage. The coverage you need depends on several factors, including what your assets are worth and your mindset. Perhaps you do not have a lot of assets to protect, such as no home, investments, and etc. However, even though you may not have a large amount of assets, you still need a high level of protection. Why is having the right liability coverage on your auto and home insurance important?
If you are in an at-fault accident, and you have low liability limits, and the limits are exhausted, used up, what happens to you? After your limits are exhausted, and there is more to pay for the damages, the rest falls on you. The party that is suing for damages, can attempt to collect the excess from you directly. They can garnish your wages, put a lien on your home, which means they will have legal right to collect money from the sale of the home. Due to the changing environment in our culture and higher auto values, we recommend, at a minimum, to do $100,000/$300,000/$100,000. This coverage is not guaranteed to fully protect you, but it should be your minimum choice. That being said, you need to look after yourself, and be willing to go higher to better protect yourself.
Let us serve you with your auto and homeowners insurance, and we will get to work for you.
I have the honor to be very respectfully your obedient servant,
John M. Hatcher
Independent Insurance Broker