What Liability Limits Do You have?

Thanks for visiting my site! The topic for now…is your liability portion of your auto insurance policy.  Every state has a minimum level.  In the state of CT it’s 20/40/10 or 50,000 combined single limit. 

20/40/10 means 20,000 per person, 40,000 per accident and 10,000 for property damage you cause.  $50,000 is one limit of liabilty to cover all of those things.  I have have heard many people say that having higher limits of liability is simply “giving” money to the insurance companies.  Not true!

You have insurance not just because the state says you need it, but to protect YOURSELF, your house and your current and future income.  What could possibly happen if you get in to an accident, hurt someone and trash their car AND you were found to be at-fault? Their medical bills are $50,000 and their car is worth $20,000.  Your policy will pay up to $20,000 for the medical bills and up to $10,000 to replace their car.  Now you are looking at a possible lawsuit of $40,ooo (usually more!)  just make up the difference!

How you avoid this problem?  Work with your independent insurance agent.  He is there to help you make sure you have the proper coverage at an affordable price.  Use an independent agent because we have multiple companies available to get a rate that’s right for you and your situation. 

Charlie Schein is an independent insurance agent located in Rocky Hill, CT .  You can find him via email at charlie@starschein or calling (860) 513-1055.

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