Put savings to the side for a minute, Atlanta; How is your auto insurance policy really working for you?
Everyday we are bombarded with insurance ads telling us how much we can save by switching to ____________ insurance company. I’m on my soap box today to emphasize that, while savings are important, they are irrelevant if the coverage is not adequate in a time of need.
25,000/50,000/25,000 – the state minimum here in Georgia for auto insurance liability coverage. That first number, 25k is how much your insurance company would pay for one person’s medical bills if you were at fault in the accident that caused their injuries. $25,000? That could easily be spent in just a few nights in the hospital. What would you do if total damages equaled $60,000? Pay out of pocket?
I’m not posting this as a scare tactic; I don’t believe in that. I’m posting this because it is real.
If you’re insurance policy does not provide you with adequate coverage, then the premium you are paying is simply money wasted. Period.
