(If this post doesn't bore you, I worry about you. But insurance is supposed to be boring, as in no surprises.)
You probably have auto liability coverage which is expressed this way: 100/300/100. Here's what it means: $100k of bodily injury coverage per person/$300k bodily injury limit per accident/$100k of property damage. Here's what it really means: If you cause an accident and three people in the other car have $100k each worth of medical bills as a result and two $50k cars are destroyed -- you're covered. But, what if you hit a pedestrian and he requires $300k worth of medical care or you cause a tractor trailer to turn over carrying $300k worth of televisions? In either case, you're out $200k. Which may mean you lose the house. This is why I'm a big fan of combined single limit liablilty (CSL) instead of split limit (like 100/300/100) because in the last two examples you'd be covered fully with CSL. Technically, if everything breaks just right , you have $100k more in coverage with 100/300/100, but there's a reason CSL costs more than split limits -- when the worst happens it's more likely to be fully utilized.
Remember, you can never have "enough" liability protection, but you do need as much as you can afford. We'd love to talk about it.
You probably have auto liability coverage which is expressed this way: 100/300/100. Here's what it means: $100k of bodily injury coverage per person/$300k bodily injury limit per accident/$100k of property damage. Here's what it really means: If you cause an accident and three people in the other car have $100k each worth of medical bills as a result and two $50k cars are destroyed -- you're covered. But, what if you hit a pedestrian and he requires $300k worth of medical care or you cause a tractor trailer to turn over carrying $300k worth of televisions? In either case, you're out $200k. Which may mean you lose the house. This is why I'm a big fan of combined single limit liablilty (CSL) instead of split limit (like 100/300/100) because in the last two examples you'd be covered fully with CSL. Technically, if everything breaks just right , you have $100k more in coverage with 100/300/100, but there's a reason CSL costs more than split limits -- when the worst happens it's more likely to be fully utilized.
Remember, you can never have "enough" liability protection, but you do need as much as you can afford. We'd love to talk about it.
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