What You Don't Know About Auto Insurance

At Brew City Insurance it is our mission to offer customers a truly exceptional insurance buying experience. We provide our customers with the knowledge to choose the best possible insurance products that fulfill their wants and needs. Our friendly, knowledgeable and professional staff will help inspire, problem-solve, and best of all EDUCATE our customers so they can choose the coverage that best fits at a reasonable price.

According to the Discovery Channel, there are approximately 6.2 million automobile accidents each year in America. On average, an accident involves two drivers and one passenger making the total amount of people involved close to 18.6 million. This means that there is a one in 16 chance that each of us will get into an accident in any given year. So did you know....

The State Minimums Might Not Be Enough ~

Wisconsin requires;

• $25,000 for injury or death of one person;
• $50,000 for injury or death of two or more people; and
• $10,000 for property damage.

But only having the minimum is rarely enough. In a serious accident, the costs can far exceed these limits leaving the individual’s personal assets to cover the balance of the damages. According to the National Safety Council the average comprehensive cost by injury severity in 2012 was;

• Death $4,538,000
• Incapacitating injury $230,000
• Non-incapacitating evident injury $58,700
• Possible injury $28,000
• No injury $2,500

It is easy to see that $25,000 would not ever begin to cover these kind of numbers. You are personally responsible for the balance! Courts can and will take all of your personal assets including (but not limited to) your house, future wages, and 401K to satisfy a judgement against you. Most responsible insurance agents will suggest you carry at least a $100,00/$300,000 minimum.

You should consider an Umbrella Policy ~

While its easy to assume that only a very rich person would need $1,000,000 in insurance coverage, you’d be surprised at how important an umbrella policy can be for an average family. For example, if you have a car insurance policy with a $100/300 liability coverage, you may think you have enough protection in case of an accident. But as you saw above, the averge lawsuit could quickly exceed $100,000.

An umbrella policy provides an additional layer of insurance, typically $1 million or $2 million, above your auto insurance and your home insurance liability coverage. In Wisconsin the typical umbrella policy can cost as little as $100-200/year!

Many People are Driving Uninsured ~

Although most states have laws requiring insurance, one study found that one out of every seven drivers doesn’t have any coverage. This makes it even more important to carry enough auto insurance to cover any damages that you would incur as a result of an accident. Don’t count on somebody else’s coverage even if it is his or her fault, and make sure you have uninsured motorist protection as part of your coverage.

In Wisconsin you must have proof of insurance. Drivers and owners of motor vehicles are required to show proof of insurance at traffic stops/accidents if requested by law enforcement.

Operating a motor vehicle without insurance may result in a fine of up to $500. Typically $500 is about what insurance will cost the average driver for a 6 month period. So why risk a fine and then have to get insurance anyway? Offering proof of insurance that is found to be fraudulent may result in a fine of up to $5,000.

Many People are Driving around UNDER Insured ~

If someone causes you harm and your damages exceed their coverage, you may be out of luck. Getting Underinsured Motorist Bodily Injury coverage will pay for damages when a covered person is injured and the person at fault for the accident does not have enough liability insurance.

If you’re somebody who drives through multiple states, the laws governing auto insurance coverage may be drastically different from your home state. This makes it even more important to consider the maximum coverage limits that your insurance company offers. Luckily, upgrading the coverage limits is often not largely more expensive than the base policy.

The Bottom Line ~

Cheaper insurance will cost you more in the end. By spending just a few more dollars each year could save you from losing everything you have worked for if something went wrong. Take the time to discuss your needs with an independent insurance agent near you. By doing so you can get the best coverage at the best price.

When shopping around for car insurance, Brew City Insurance is a great place to start..

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Brew City Insurance has access to several major companies. We are able to run you through a rating service and find which company offers the best coverage at a premium to best meet your needs. There are several Wisconsin based insurance companies who do not advertise on TV, radio and therefore have lower premiums. And you will still have the convenience of the high quality personal service we offer instead of a 1-800 number and a call center somewhere overseas.

Brew City Insurance Agency Inc. is located in South Milwaukee between Pick N Save and Walgreens at 2937 S Chicago Ave. Stop in today and see what we can do for you! Or call 414-762-6600 and we can quote you right over the phone.

Visit our web page to find out more! http://www.brewcityinsurance.com