When was the last time you looked at your auto insurance policy? Many of us get into the habit of paying our auto insurance bill each month without a second thought, but in most situations the coverage you originally signed up for isn’t necessarily enough to cover you in case of an accident anymore, essentially making the payments you put toward insuring yourself every month inadequate – or obsolete.
To better protect yourself financially, ask your insurance carrier what coverage is offered. Increasing your liability coverage to 250/500/250 is always recommended. Surprisingly, when you raise your coverage, your monthly bill’s increase is relatively low. To continue balancing good coverage with reasonable monthly costs, work to increase deductible levels to $500-$1,000 to help offset premium costs, and avoid smaller claims.
Don’t let yourself get in an auto insurance rut. Read our full article on how to better protect yourself financially and maintain excellent coverage in Columbia Daily Tribune.
As a financial planner specializing in comprehensive financial planning, Tim enjoys helping clients in Columbia, MO with managing their taxes, financial risks and other financial issues.
If you would like to learn more about this and other personal financial planning topics serviced by Clarity Financial please contact us at 573-447-7007. Clarity Financial, LLC is a fee-only financial advisory firm in Columbia, MO. Appointments are welcome and initial consultations are free.
Certified Financial Planner™ professional
Member of the Alliance of Comprehensive Planners
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Enrolled Agent designation from the IRS
This article is the property of Clarity Financial LLC.
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