HOW MUCH LIABILITY PROTECTION DO YOU CARRY?

Picture
Snowy morning. BMW 4 series ($45,000) and Tesla Model S ($77,000) up ahead.
Do you have enough Liability coverage to protect you in case you hit one?  or both?
What if someone is injured?
​
The state of Virginia requires all auto policies carry at least $25,000 for bodily injury and $20,000 for property damage.
What's on your policy?

Brock-Norton recommends limits of $100,000 / $300,000 / $100,000 or higher.
​Talk to us about how you can improve your protection. 

Comments

Post a Comment

Popular posts from this blog

Revised Auto Insurance Laws in Virginia

Image
Recently, the Virginia Assembly passed laws effecting Auto Insurance Policies issued to Virginia Drivers. The state of Virginia is now requiring changes to underinsured motorist coverage and has revised the applicable statute, VA Code section 38.2-2206. Changes will start for all new and renewal policies on July 1, 2023 . Through this amendment, damages caused by an accident with an underinsured motor vehicle will now be paid in addition to any bodily injury or property damage liability coverage available for payment.    A named insured may decline this change in coverage and select Underinsured Motorist Coverage (Alternative Coverage). Under the Alternative Coverage, damages caused by an accident with an underinsured motorist may be reduced by bodily injury or property damage liability coverage available for payment. If you choose to decline the change in coverage and instead elect the Alternative Coverage, a named insured must sign the Virginia Underinsured Motorist Coverage (Alterna
Read more

Inflation: A Pickle for Property Insurance

Image
All of us are feeling the grip of inflation. Building materials costs have spiked over the last 2 years. Supply chain disruptions and labor shortages are causing major delays in construction projects. As a result, it now costs more to rebuild your home than it did before.    When was the last time that you checked your policy limits? Are they high enough to cover a 26% increase in building costs? If not, then you have to pay the difference out of pocket.   Hanover Insurance Company shared some of the numbers behind inflation in a recent  post .  They recommend that policyholders consider   Increasing coverage to avoid potential gaps in the current market Include the cost of any recent renovations in your policy limits Consider higher deductibles to help offset the cost of policy limit increases   The insurance industry is working to help policyholders stay ahead of the curve. Many carriers are running Replacement Cost Estimates on covered properties and adjusting property limits as nee
Read more

Life Insurance - What Type of Policy Should I Get?

Image
  Whole Life Insurance Whole life insurance, sometimes called permanent life insurance, provides coverage for your entire lifetime. That means your family and beneficiaries are covered for the duration of your life. Whole life insurance accumulates cash value, too, providing you the option of borrowing against it. It’s a financially smart way to help protect yourself and your loved ones. You can even buy a separate policy for children, so they have coverage for their entire lives. To continue learning about Whole Life Insurance please click the button below.  Whole Life Universal Life Insurance Universal Life Insurance is protection that offers payment flexibility and the ability to adjust the coverage amount over time. It offers low-cost protection like term life insurance and a savings element like whole life insurance.  It can help your family financially with immediate cash for funeral expenses or can be used in other ways, such as business situations, to create a charitable gift,
Read more