Personal Automobile Insurance

Personal Automobile Insurance

Greystone Insurance Associates, Inc. – Covering the Boone, Blowing Rock, Banner Elk, Watauga, Avery and Ashe Counties

When purchasing personal Automobile insurance, buyers often “zero in” on protecting their own vehicles in case of an at fault accident, with special attention to deductibles for comprehensive and collision coverage. They consider the liability coverage required by the State of North Carolina as necessary, but not nearly as important to them personally. After all, the insurance company pays the other person involved in an accident if the insured is at fault. Therefore, liability coverage is for the other person. To the contrary! Personal Automobile Liability protects you!

Most people work long and hard to acquire their home(s), vehicles and various other assets. One serious, at fault automobile accident could put all that at risk. The dollar amount of a property damage claim can quickly exceed the amount of coverage on some policies, especially if more than one vehicle is involved, the vehicle or vehicles are high value, or the damage is to real property – a home or commercial structure. When the limits of a policy are exhausted and the other party’s claim has not been satisfied, where does the remaining balance come from? It comes from the owner of the vehicle deemed responsible for the accident! Many people would have to sell everything to pay all the costs of a lawsuit and settlement of a claim.

Property damage claims can be very expensive, but, not nearly as expensive as personal injury claims. Consider the cost of caring for just one person who has an injury serious enough to require care for the remainder of his or her life. The cost can be astronomical. Multiply that by several injured individuals who, by the way, may not carry health insurance.

Purchasing the highest limits of Automobile Liability affordable is always a good idea, and with the changing weather in Boone, Blowing Rock, and Banner Elk it only reinforces the need to be properly insured. A vehicle has the capability of becoming a moving object with a turn of the key in the ignition and can cause hundreds of thousands of dollars in damages, seemingly in the blink of an eye. It’s human nature to believe tragedies happen to other people; however, it’s wise to be prepared. An agent who has the knowledge to provide clear, concise information can be an invaluable assistant in protecting your assets.

Companies also offer a Personal Umbrella Policy. This inexpensive coverage extends the liability limits after the limits on the personal automobile policy have been exhausted. Umbrella policies also cover your homeowners liability if those limits have been exhausted. Personal Umbrellas often have limits of 1 million to 5 million dollars or more and remain economically attractive.

A review of all personal lines coverage is a necessity in our ever changing economy, especially Personal Automobile liability.

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