Desmond Insurance Blog
Are you looking to update your auto insurance policy? Knowing your existing car insurance limits can help you understand what you can expect from your auto insurance policy once you have it updated to the new specs.
Coverage limits refer to the maximum amount of car insurance policy payments made after an accident. Once you reach that limit, you will be responsible for paying the rest of the cost out of pocket.
It may not be easy to swallow, especially if you don't have much money in the bank. However, that is how car insurance works. This is why you have to be aware of your limits. Do this before purchasing or updating your policy.
There are three basic car insurance policies that you can have to begin with. The first one would be liability insurance. If you cause the accident and both you and the other party are injured, you could have a 25/50/25 payout readily accessible in your policy.
This means that if the total damage goes under $25,000 for everything and everyone, you will have full coverage for that incident. You will take anything exceeding $25,000 from your pocket.
Uninsured Motorist Coverage
You can also cover uninsured motorists. If you happen to get into an accident where there aren't insured passengers, your insurance policy will be able to cover it for you. This can also help pay for damages if an uninsured motorist causes the accident.
Some states require you to carry this insurance coverage. However, even if you are not required by law to do it, it would be advantageous for you to update your current insurance policy to include this right away.
Insurance limits for this particular policy would be 25/50.
Uninsured Motorist Property Damage
Lastly, you will also get uninsured motorist property damage payouts. This can help cover your damage to the car if someone without insurance hits you. It will also apply to being an uninsured party if it's their fault.
The Ultimate Conclusion
It would also help you if you review your existing policy periodically to be abreast of its changes. This way, you won't end up with the short end of the stick when it comes to getting your insurance benefits.
At Desmond Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (859) 491-5100. You can also request a free quote by CLICKING HERE. Coverage discussed in this article is not guaranteed. Please contact our agents today to ensure that your needs are being met and learn more about your policy. We are happy to help!