Hi all, this is Mike McDonald your friendly neighborhood Allstate Agent. First of all, Robert & I would like to say thank you to all of you for your continued support. We really do appreciate your business and it continues to be our primary goal to provide you with the personal attention you deserve from your insurance agent.
This blog was created to help us accomplish just that. This forum will help us provide you with information that is relevant to you and your family as it relates to insurance. We'll help you better understand your insurance policies, identify any gaps or opportunities, and most importantly make sure you have an insurance portfolio that is tailored to your specific needs. Insurance is a key component when it comes to family planning and we want our customers to know we are here to help.
I read a quote recently from Woody Allen who said "There are worse things in life than death. Have you ever spent an evening with an insurance salesman?” It's no wonder we get a bad rap! All kidding aside, insurance is not at the top of everyone’s "favorite-things-to-talk-about" list. But it is necessary and extremely important. Most people don't plan to fail, they fail to plan and having the right insurance in place is an important part of every family's plan. With over 30 years of combined experience in the insurance industry we want you to know we are here to help.
Last but not least, we'd also like to use this forum to inform you about events of interest that are happening in and around town. Again thank you for your business, we do hope you find the blog helpful.
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When you own a home or even multiple homes you should have adequate coverage but if your situation changes to owning 0 homes should I lower the coverage on my vehicles to save money? How does this work?
ReplyDeleteHi Cathy, thanks for the question. Very good questions too. This is a popular question these days as many people are facing similar circumstances. Your thought process is correct in that the more assets you have, the higher your liability coverages should be. That doesn't necessarily mean though that just becasue you may now have fewer assets that you are better off with lower liability limits. The tricky part of this is that you never know when a serious accident may occur. If you have no significant assets to speak of, a lawsuit may still result in a judgement against you, wages may be garnered, etc. If you think your financial situation is a temporary one, you can look to lower your liability limits and then increase them again down the road. Feel free to call us to see if lowering the liability limits on your policy are even going to result in a significant decrease. Sometime it does, some times it does not.
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