insurance premiums v coverage

Recently, I received my newest invoice for my automobile insurance coverage, and was shocked to find out the premiums had increased by over eleven (11%) percent.  I immediately contacted the insurance company as we had submitted zero claims, and there was no other reason for the increase other than a rate increase by the insurance company.  During my telephone conference with the insurance company, they re-quoted my policy and, to my surprise, the ultimate insurance policy quote was substantially reduced.  As a result, I was not only a happier customer, but more importantly I kept my current policy limits as opposed to reducing them in order to make the coverage more affordable.

I mention this because, more often than not, an insured seems to keep their coverage amounts low in order to save money, instead of having appropriate limits that might protect themselves in the event of a motor vehicle accident.  (What is Uninsured/Underinsured Motorist Coverage & Why Do I Need It -LCS).  There is nothing more disheartening than having an injured client that is involved in a motor vehicle accident and finding out that the operator at fault either had no insurance and/or minimal policy limits, and that your client similarly held minimal policy limits and, therefore, there is no additional coverage to compensate the client for his or her injuries.  Sometimes, it is worth reaching out to the insurance company to see if there is a possibility of obtaining a reduced rate, as opposed to reducing important policy limits in an effort to save money.   Otherwise, maintaining the minimum uninsured/underinsured motorist limits could have a huge impact on your recovery in the unfortunate event of a serious motor vehicle accident.


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