Are Your Auto Liability Limits High Enough?
Our main concern as agents is to make sure that our insureds have enough coverage to protect the assets that they have worked so hard to accumulate throughout their lives. However when it comes to liability exposures, the losses can be almost limitless, especially when it comes to bodily injury liability. With the huge increase in medical bills over the past 5-10 years, it is a more important time then ever to evaluate if you have adequate bodily injury liability limits on your auto policy.
In the State of Nebraska you are required by law to have a minimum limit of $25,000 per person and $50,000 per accident bodily injury liability coverage. For the vast majority of people this is NOT enough coverage to protect your assets if you were to be found at fault in an accident. The average nightly stay in a hospital is around $4,300 not including ambulance, prescriptions, MRI’s, CT scans, X-rays, and possible lifelong medical treatment. It is easy enough to see that $25,000 for one persons injuries can almost be exceeded in the first day in the hospital. In the event that you were at fault in an accident and a person that was injured because of your negligence were to have $100,000 worth of medical bills, the minimum liability coverage would leave you coming up with the remaining $75,000 out of your pocket. If you did not have $75,000 of liquid cash (which most people don’t), you may have to liquidate your home, cars, IRA’s, savings accounts, and any other assets to pay the balance. It is also possible for the court to garnish your wages until the balance is paid off.
At the very least we recommend carrying $100,000 per person $300,000 per accident bodily injury liability limit, and if you have a net worth in excess of $100,000 we recommend a $500,000 per person $500,000 per accident limit (which is the maximum you can have on a personal auto policy). Those of you that have a net worth above $500,000 we strongly recommend purchasing an umbrella liability policy.
Home Repair After a Long Winter
Cold weather can be a drag for homeowners. Add snow, sleet, and ice to the equation, and even the handiest homeowner can get worn out.
Winter can be tough on houses, condos, and townhomes. But Spring is the perfect time to make some repairs. Chances are some of you have had winter damage to your home, or maybe you’ve just enough gradual wear that you need to replace or update something important.
As insurance agents, we’ve seen it all. But there are some things you can do to help get your house in shape, even if there wasn’t a single event that caused enough damage for a claim.
Here are a few tips to help repair wintery wear on your home:
- Gutter up – Gutters can become weighed down by ice and snow. Check to make sure your gutters are in good shape periodically this season.
- Roof goof – Hail can cause your roof to take a beating, but ice and snow can also cause problems. Check for loose tiles, worn patches, and any holes that are ripe for repair.
- Trouble below – Water that seeps into the “bones” of your house can cause cracks in the foundation or pipes when the temperature drops. Check for visible cracks or faucets that no longer work to stay atop this one.
- Chipping away – Cold weather can cause paint to crack and chip, mortar to erode, and even driveway damage. Regular annual upkeep is a must to keep these small repairs from becoming a larger headache.
Ansley Science/History Fair Judging
This past week was the annual Ansley School Science/History fair was held. A couple of our agents, Brian and Kiley, were fortunate enough to act as judges for various grade groupings. This is always a great event that the school puts on each year, and is an excellent chance to showcase to the community what talented students that Ansley Public Schools mold. A big thank you to the teachers and administrators for creating an event that allows the students to use what they have learned and show it off.
615 Main St
P.O. Box 159
Ansley, NE 68814