Do you know what you have? + Mega Mixer Survey Results
I was helping a lady last week who needed auto insurance. She had called me and had purchased a vehicle several months ago from a private individual but did not have the money afterward to buy insurance. I spoke to her and gave her a quote over the phone because she wanted the most inexpensive policy that would keep her legally insured. Some days later when she came into my office to purchase her insurance, I began explaining how much coverage she would actually have, and she said, “Oh that’s not enough coverage,” and went on to explain that several years ago she had been in an accident and her coverage was too low and she had to pay out of pocket for expenses beyond what the insurance covered. She learned from her past problem, but until I explained what she was getting it did not register with her. Once she told me, we started looking for much higher limits and I was able to place her with a great company for only a few more dollars than we had originally discussed. She was happy and felt more secure in driving out of the parking lot.
The reason I’m sharing this is because many people have insurance but are severely underinsured and if you get into an accident and your auto insurance limits of coverage are too low you will be having to pay out of pocket, just like the client I mentioned.
And not only for those whose limits are too low… do you know how many people are driving around without coverage? When you are driving down the road count 7 cars. ONE of them does not have coverage. If you are stopped without auto insurance you immediately receive a fine, plus your car can be impounded and you cannot have it back until you get insurance and pay all the impound fees.
If you are thinking about ways to save money and decide to just not pay your auto insurance, the result is that the DMV will send you a letter requiring you to obtain insurance or your registration will be suspended. This is all personal insurance. If you are a small business owner and you only have a personal auto policy, your claim may be denied if the insurance company discovers the accident happened in the course of business.
All this is to help you make a wise informed decision when you decide what kind of insurance you need to purchase. I have seen many choose to save a couple of dollars that eventually cost so much more. Be wise, evaluate your risk, and get properly insured so that if you are involved in an accident you won’t have to loose sleep over what can happen to you.
I also want to thank everyone who stopped by our table at the Business Women’s Mega Mixer. This was our 1st year exhibiting and I was impressed with the event… Women business owners all coming together to celebrate women who are blazing trails in all areas of business. It was truly inspiring hearing how the women veterans spoke on the trials they had endured but overcome.
At our table, we took a survey and asked… Which of these options do you think people do NOT have on their auto insurance because they think it will cost too much.
The results of our survey are:
Medical coverage 38%
Uninsured coverage 32%
Rental Car 30%
In closing, if you know someone who needs help determining how much insurance they need or if they want to know exactly what they have with their current insurance send them to Policy Point Insurance Services where we can help them pinpoint their policy needs.