What if the worst happens?

No one wants to think about the worst case situation.  No one wants to think about causing an accident where someone gets hurt badly or worse.  No one wants to think about being the cause of a complete home loss or slip and fall that drastically alters someone’s life.  These situations though can and do happen.  Insurance whether home or auto is there to help you financially in these situations, your liability limits are what come into play if a worst case scenario happens.  Liability limits are something that a lot of people do not give much thought.  Everyone wants to know what their premium is or how much money is the deductible.  While premiums and deductibles are important and have a financial impact on your life, they do not have the potential impact that too low of liability limits would have in a worst case situation.  Many times the cost of raising your liability limits is very cost effective. 


How do you know if your liability limits are too low?  One way is to look at your assets.  If you had a worst case situation and were sued how much would you stand to lose?  Sadly for many people in worst case situations you have the guilt of seriously impacting someone’s life, and then you potentially have to look at the possibility of losing your 401k or your house or everything you have worked for.  The Insurance Services Office estimates that 20 percent of people who purchase auto insurance purchase state minimum coverage.  Are you one of that 20 percent?  You can also contact us at 412-344-2800 to discuss and evaluate your liability needs. 


What if you need a higher liability limit than your auto insurance offers?  Is there a cost effective way to cover me for a worst case situation that would cover both my auto and my home?  Yes there is.  An umbrella policy is in many cases a cost effective policy that can give you a million dollars or more of liability coverage that can be excess over your limits of liability on your auto and home.  Most companies offer an umbrella policy that offers excess coverage for your home and auto.  Many of our carriers offer very cost effective umbrellas. 


No one wants to be involved in a worst case situation accident.  No one wants to be involved in that kind of situation and lose everything they have worked hard to achieve.  Consider adding an umbrella policy to your insurance portfolio.  You can contact us via the contact page on this website or call us at 412-344-2800.  You can also reach out to us via social media accessed through the buttons on this webpage.