America is excited for the upcoming season and the return of our favorite team to action on the gridiron. The NFL and NCAA have been busy making player safety a focal point the past few years.
These organizations are enacting new rules designed to protect the players from injury, especially the long-term effects of CTE. Disregard for these player safety rules is met with significant on-field penalties and off-field monetary fines.
And speaking of money, there is plenty of conversation regarding whom may be potentially liable for such injuries, and responsible for any associated medical bills, rehabilitation costs, lost wages, and pain and suffering from those impacted. For sure, a broad topic, with many opinions that the leagues are trying to resolve.
So, what does this have to do with insurance? There is a parallel. Your Family Liability on your homeowners, condo, or rental policy as well as your Bodily Injury coverage on your auto policy protects you against these very same costs if you were found to be at-fault in an accident causing bodily injury to another.
But how much Family Liability and Bodily Injury coverage should you carry in your insurance policies? Should you also have an umbrella policy?
Those are great questions to review with your experienced insurance agent, because if you are underinsured, and have financial assets worth more than your insurance coverage limits, you may expose yourself to the possibility of the other party hiring lawyers to sue you for additional money beyond your insurance limits. Carrying an adequate amount of insurance for your specific family circumstances is a great way to avoid the financial and mental strains of such lawsuits.
If you do not know what coverage limits are right for you, or you haven’t updated your coverages in the past year, my team would be happy to assist in providing an insurance review, as we customize insurance for our client’s specific needs.
I’m Craig Bolier, your local Allstate Insurance Agent. Please contact my office at (480) 924-1999 to schedule your appointment