How Well Are You Insured?
Insurance is not easy to understand, and it is easy to leave your insurance needs in the wrong hands. Has your insurance agent contacted you lately? Are you protected? Can you read your insurance policy and understand it? After speaking with your agent do you ever just sit back and think "Did he/she just answer my question vaguely to get me off the phone and left with your question still not thoroughly answered"? Well, you are not alone.
Many people out in the world know that they have to have insurance but do not understand exactly why or what they need. Being in this business for 13 years and can help you answer your questions that you possibly have or not answered. Insurance is a business that has people thinking why do I need this or am I covered. Let me respond to some of those questions.
People need insurance not only to protect them from being sued but to protect another person or family in an accident caused by you or someone within your home. Liability is what you need to protect someone you are at fault for hurting. Let's speak auto for a moment. If you are in a car accident, and it is not your fault would you want that person to pay for the damage they caused you? Of course, you would! Your Bodily injury comes in; it helps the other person and family. Bills pile up to be costly. No one wants to have huge medical bills. Your auto insurance steps into play and pays.
Let's just say you have state minimum liability. $25,000/ $50,000/$25,000, the first $25,000 if for each person is all the insurance company will pay out or up to $50,000 for each accident. That means the insurance will only cover $50,000 per accident no matter how much the bill is. Leaving you with anything over $50,000 to be paid out of your pocket on medical bills. The other $25,000 is for property damage. The person you hit when you are at fault in an accident, will only get up to $25,000 paid towards replacing their car. You this does not cover you nor your property just the other guy. We all know how much doctor's visits are. Ambulance rides charge per mile too, so if they need to leave by ambulance that adds up too on the medical side. The other party can legally sue you for the rest, taking your home and belongings away to sell.
Uninsured motorist and underinsured coverage should always be the same as you give the other guy. Why would you not give yourself and family the same coverage? Uninsured/Underinsured coverage will cover you in an accident that is not your fault, and if you or your passengers need to go to the hospital due to someone else.
Comprehensive and Collision coverage is for your car in case you have something happen. Let's start with comprehensive coverage. Comprehensive coverage covers anything, not collision related, hitting a deer, a tree falling on your car, a rock hitting the windshield, scratch from a cart in the store parking lot. The collision is just that someone hit you while parked, you are involved in an accident whether single car or multiple car accidents, you hit a telephone pole, or back into something.
Does insurance go up with claims some do, and some don't? If you don't want it to go up, don't turn in a claim unless you know for sure you have the right information first. Turning to the claim and then pulling it will still show as a claim against you. Comprehensive will not count, but too many claims will result in your insurance history looking bad if you are shopping for other insurance.
Let me answer your questions on insurance, and if I can't, I will find the answer for you. Let's talk about your current policy. I can make sure your agent has you properly insured. No obligation period!
Thank you for reading this post.
Tina Collet
Allstate Agent
503-908-1940
Check out my blogs on PTSD at www.PTSDPartners.com
