Auto Insurance

The Most Critical Coverage

The most critical part of your insurance should be the last portion you look to cut when shopping for insurance.

Liability is the cheapest, yet most important aspect of your policy.

Liability insurance coverage on your auto insurance policy is the most critical portion of your policy. It is the coverage that pays out if you hurt someone in an accident, or if you cause any damage to property that doesn’t belong to you.

When you factor the soaring cost of medical bills in our country right now, or the cost of cars on the road today with all the electronic and computer controled features, it’s no wonder why your liability insurance is the one portion of your auto insurance that you do not want to skimp on.

What’s crazy is that your liability insurance coverage is often times the cheapest part of your policy. The cost to double, triple, quadrupedal or even 10x your auto liability coverage limit is never as much as you think it might be. For the same cost as a Starbucks coffee or two for you and your friends, you can add ten times the amount of liability coverage to your auto insurance.

When shopping for your auto insurance, be wary of any proposal or quote that only offers the state minimum coverage for liability.

Missouri minimum limits are 25/50/25

What this means, is if you are involved in an accident that is your fault, and the other vehicle has three passengers who all have various levels of injuries, you r auto insurance will only pay out $25,000 per person, as a maximum, however, the policy will not pay any more than $50,000 TOTAL for the entire occurrence. Think about the cost of health care again, that won’t get you very far!

The last number in this scenario represents the amount of coverage for property damage that you are responsible for causing. With the average cost of a new car above $36,000, it’s is our professional recommendation to carry higher limits of property damage as well.

Any payout or settlement beyond those numbers will need to come from you personally. These decisions are often made in a court setting when the other party has decided to sue you.

With the high amount of fraud that takes place, it is a scary proposition to gamble with lower limits of coverage.

Because of the low costs, and our belief that you deserve more, at Beacon Point Insurance, we will never offer an auto insurance proposal with, state minimums for liability and property damage coverage. – Contact us to see what options you have for better liability insurance here.

What If I Don’t Have Anything To Sue For?

If you do not have enough liability coverage to cover the loss, then you can and more than likely will be sued.

If you do not have the financial means to settle the lawsuit, then depending on the state you live in, you can have your wages garnished, and/or have judgments placed on you for future earnings. Yeah, it doesn’t just go away like some think.

When it comes to your auto liability insurance, the old saying holds true;

“You don’t have to be a millionaire to be sued like one.