Protect your assets

by BrijBrand Contributor, Shari Glover

Students, property damage and medical expenses can easily exceed your policy limits.

The average judgment awarded in auto accident cases in the State of Georgia is $384,000.

Without adequate limits of insurance, you, the driver is responsible for paying.

Bad auto accidents are a common occurrence on Georgia highways.

The cost of property damage and medical expenses can easily exceed policy limits if you, the driver, are carrying state minimum coverage.

In the State of Georgia, the state minimum coverage is 25/50/25. What that means is the most an insurer will pay out for a single person’s injury is $25,000. 

The most paid out for all injured persons is $50,000 and the most paid out for property damage is $25,000.

If you have been hospitalized for any length of time, you know it only take a few days to incur a costly medical bill and the cost of vehicles repairs increase every year.

In some cases, drivers found responsible for auto accidents have had to sell their assets to pay judgments against them.  That means savings, second homes, investment properties and retirement plans are put at risk every time a driver gets behind the wheel.

This scenario can be avoided by a simple adjustment to carry adequate limits of insurance. 

If you are a homeowner, have significant assets like rental property, investments or an inheritance the higher your limits the better.

The goal is to have your insurance policy pay for any property damage and medical expenses if you are found responsible.

Higher limits are the best way to protect assets against a judgement and to keep a bad day from becoming a bad lifetime.

A quick review of your policy can help you determine if your limits are adequate.  Protect what you’ve worked hard to build and let me know if I can help!

Shari Avatar smallShari Glover is an Agency Owner with Farmers Insurance specializing in Auto, Home, Life and Business Insurance.  She is passionate about helping families protect what matters the most to them, and believes every question is worth asking if it broadens understanding and leads to the path of enlightenment. Want more info about Shari and the work she loves? Visit her website and follow her on Facebook.

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