By Christopher John
What most of us focus on when we go to buy auto insurance, is protecting our automobile right? Our autos represent a large investment in our lives. Auto insurance protects much more than just our automobiles though, let's take a look at how.
Auto insurance policies can be comprised of several different types of protection.
Right now let's just focus on the liability part.
Auto liability insurance protects a person in the event that they are involved in a collision that is found to be their fault, thus becoming liable for any damages.
There are a variety of limits of the liability part of your insurance policy that you may choose from. That could be anywhere from the minimum limits allowed, to much higher limits. Let's take a look at the minimum limits in California.
In California the minimum limits are up to $15,000 per person/ $30,000 total per accident for injuries, and up to $5,000 property damage. That means if a person or persons are injured in an accident or have property damage above the these minimum limits, you are responsible to pay the rest!
You would be surprised how many people drive around with this type or similar minimum coverage, and you may be even more surprised to find out that one of them is you! Many people just ask for full coverage when they buy an auto policy, and expect the insurance agent to know what that means. Unfortunately some agents will sell you low limits in an effort to be competitive and beat out the competition.
This can leave your assets like your home and business at risk!
How? Because if your insurance limits are not high enough to pay for all the damages, they may be able to sue you in court for the rest!
They can take your home, your business, or both!
Call your agent today and go over this important coverage with him or her. If you own a home or business, make sure you are carrying limits of coverage that are protecting your assets from potential exposure. If your limits are too low, ask them to raise the limits to at least $100,000/$300,000/ $50,000. You may even want to go higher than that. If your current limits are too low and they can't raise them substantially higher, find new coverage.
If you or a client would like to sell your Privately held real estate note, Structured settlement, or Annuity, or need Mortgage Financing for both high or low credit scores, call C.J.F. & Associates at 1-800-908-9312 or go to our website at http://www.cash4you123.com for more information.
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