There will be more drivers riding their cars without insurance or without adequate insurance to protect you.  Uninsured motorist coverage is your way of protecting against this risk.

Imagine for a moment, another driver hits you from behind by failing to stop at a stop light – a common occurrence. Now imagine the other driver runs off or has no insurance, but that your seriously injured. Your uninsured motorist coverage will pay for hospitalization and rehabilitation to bring you back to health. However, these bills can mount rapidly and $50,000 — even $100,000 — may not be enough. We recommend at least $100,000 per person and $300,000 per accident uninsured motorist coverage for individuals and small families that own property. More coverage is required, especially if you have no health insurance due to unemployment or for other reasons.

Medical coverage is helpful in the same situation, when the at-fault party in an accident doesn’t have enough insurance. Medical coverage pays for the same types of expenses that are paid by uninsured motorist coverage, but medical coverage pays out immediately when bills are due. With uninsured motorist coverage, injuries may need to be fully restored before payments are made. Medical coverage is primary insurance and pays first with a claim against your policy. It’s a worthwhile coverage to have, especially if you do not have any health insurance on your own or if you have a high-deductible health insurance plan.

There are many issues to consider when deciding on the appropriate limit for uninsured motorist coverage and medical insurance coverage on your auto insurance. It’s best to consult someone who has experience with the issues involved, and it’s definitely a wise decision to review the coverages now. Don’t wait until it’s too late, especially these days when more people are driving without adequate insurance. We’re seeing many folks cut back on important expenses like auto insurance this year. A warning is in order. Now is the time to be even more vigilant and confirm that your auto insurance coverages are set right for your individual and family situations.

The conversations started a thought process about a product that would insure against market losses. It would work like this; if the market went down significantly you would not lose any money because the insurance you purchased would put the ‘paper” loss back in your account. I bet you would have some interest in that product today!

While that product does not exist, other products do exist that make people whole when there is a loss. Those products put people back into the exact same position they were in the second before the loss occurred. The plans they had for their family, their businesses and themselves come to completion just as they had planned. These products don’t have really sexy names, they’re all pretty basic like auto insurance, home and renters insurance and life insurance. Stuff no one really wants to talk about until there is a loss and when people want to go back to the way it used to be, just before the tragedy happened.

Hindsight is 20/20 if we knew then what we know now, would we make better decisions? Now is the perfect time to make sure your hopes, dreams and plans for the future happen no matter what losses occur. The Haas Agency’s Peace of Mind Conversation is the perfect place to start. Call us today to schedule your web conference at 860-659-1301 or 203-746-5077.

While we are looking to local, state and national leaders for solutions to today’s big problems there is no better time to take action on things you can control, like making sure you are properly protected against fire, liability losses, death and disability. If the market downturn has caused pain because of a “paper” loss, what would a real loss feel like? One in which you actually had to pay money to someone else to make yourself or that injured party whole–I submit that would be lot more painful.

CAN YOU HEAR ME? We can help and we want to make sure you survive and thrive in the future, now is the time to act. Please contact our offices to schedule your next Peace of Mind Conversation with the Haas Agency.