Call Us CALL US TODAY | 760.893.8055
Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Recreational Vehicle Insurance RV & CAMPER

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Umbrella Insurance UMBRELLA

Different umbrella coverage options that fit your specific needs.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More

Hi everybody! It’s been a while since I reached out to you! As you can imagine, I’ve been very busy handling claims because of the stormy weather we’ve had in Southern California.
 
 One question that I am asked a lot is “how much insurance should I have”? My first answer is that they should talk to their insurance agent who is equipped to talk about the different types of insurance and can put together a nice insurance program based on their needs. But people still want to know how much insurance I think they should have as somebody who handles thousands of claims every year.Chrissie Claims

 Well, that’s a tough question and not an easy one to answer because everybody’s situation and needs are different. I start the conversation by saying that they need to protect everything they have. They have worked hard to earn what they have so their personal property should be protected.

 I like to use real life examples without violating anybody’s privacy. For example, I would say “Bill, let’s say you were almost home from work and driving through your neighborhood when suddenly a child chasing a ball darted out in front of your car and you accidently run the child over. After being on a ventilator for six months, the child passes away or worse (financially), the child survives but needs to be hooked up to machines in a vegetative state for the rest of his life”. I know that this is a horrible story but one that actually happened! Bill, how much money do you think you will be sued for?

 As a claims adjustor, I know the answer to this. A trial lawyer will sue you for everything you have or will have the rest of your life. Let’s say that the trial lawyer obtains a judgment for the grieving parents of four million dollars for the sake of argument. To satisfy the judgment, they will go after all of your assets which includes money in your bank account, money in your business account if you are a sole proprietor, the equity in your home and any rental properties, retirement assets, and your largest asset, your earnings power. 25% of your wages can be attached for 10 years to satisfy a judgment, then after 10 years, they’ll renew the attachment for another 10 years until the judgment is paid in full. So this means that you can lose everything you have plus 25% of all future earnings for up to 20 years. 

 I hate to be a Debbie Downer here but insurance is all about you making small payments to avoid having to make a massive payment and possibly lose everything you have. Think of it this way; you put out a bunch of small manageable campfires to avoid the entire forest from burning down. Until next time, thanks for listening.
 
– Chrissie


Review your policy with one of our agents today. Call Ken May Insurance Services at (760) 893-8055 for more information on California auto insurance.  

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Twitter
LinkedIn
Yelp
Mercury
Hartford
Travelers
MetLife
Progressive
CSE
Mapfre
© Copyright. All rights reserved.
Powered by Insurance Website Builder