Be careful what insurance agent you listen to!

Be careful what insurance agent you listen to!

There is a certain insurance company that spouts “name your own price” with numerous ads, using their own insurance agents. Here is the problem – it is based on lowering and lowering you liability coverage. If you are a college student or young person starting out in the workforce, this may be OK.

But if you have a good job, acquired some assets and built up a net worth, this is dangerous.

When you cause an accident (and we all will at some time in our life) then the injured party will look to you to make them whole. This is where your insurance kicks in and covers any damages (to car or people) you may have caused. If you belived that other insurance company and named your own price, you might not have enough insurance coverage to pay for these damages!

Your at-fault auto accident

Auto accident

Be careful what insurance agent you listen to.

Don’t be a do-it-yourself insurance adviser. This could be a dangerous situation, where you don’t have enough protection to pay for the damages. I’ve seen this happen more than once and it is never a good conversation.

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