Auto Policy Insurance Limits – Am I Still Liable?

When you sign up for an auto insurance policy, you expect to be financially protected if an accident occurs. And, while most of the time you are, there are times when the accident creates financial obligations that exceed what your insurance policy makes provision for. That means you are financially obligated (responsible for) bills your insurance company won’t pay for. Granted, you expect your insurance policy to protect you from financial destruction, but an insurance policy does have limits. Here are some you need to watch or have increased:

  • $15,000 Per Person – With today’s health costs, $15,000 may be a drop in the bucket when it comes to x-rays, MRIs and other tests.
  • $30,000 Per Accident – See Above
  • Property Damage Limits – All too often, our insurance limits may not even cover the cost of the other car involved. It isn’t just a Bentley or a Lamborghini that costs more than our limits cover, but Chevrolets, Fords and Toyotas too.

Contact Medwin Insurance Agency today if you have any concerns or questions about your auto policy.

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