Automobile liability insurance is vital to protect your financial liability and responsibility, and is required by your state.
Western Gold recommends at least 100/300/100 liability coverage. $100,000 protects your financial responsibility for others up to $100,000 per person, $300,000 per accident. Most of our Western Gold clients carry 250/500 because this underlying limit is required to obtain a $1,000,000 to $5,000,000 umbrella policy.
We also recommend under and uninsured motorist coverage of 250/ 500 and a $1 million to $5 million umbrella. Our carriers will provide under umbrella coverage $1 million or more of bodily injury for you and your family. Most agents never discuss this very important coverage. At Western Gold our expert agents are well-schooled in liability and know that when you’re in an auto accident there’s a high probability the other party will be either an uninsured or under-insured. Either way you lose. The only way you can protect yourself is by maintaining 250/500 under and uninsured motorist coverage along with a $1 million to $5 million umbrella.
The second part of liability coverage is property damage. Property damage is typically your liability for damage to other people’s property such as vehicle and real property. Our clients are counseled on the importance of maintaining at least $100,000 property damage coverage with a $1 million to $5 million. There are many vehicles now costing over $100,000 in replacement value. We highly recommend at least $100,000 of property damage coverage with the addition of umbrella coverage from $1 million to $5 million to better protect your financial responsibility.