Motor Vehicle Insurance

My partner, Craig Kelley, posted an interesting article from our newletter regarding How to Properly Insure your Motor Vehicle. The article sets out the general insurance coverages that our availalbe and what those coverages really cover.

It is always interesting when talking with people and being told that they have full coverage on their motor vehicles without having a clue as to what that means. Most people don’t know if they carry minimal liability coverage or not. In the state of Nebraska, we are required to carry a mimium liability coverage of 25/50. What this means is, if you get into a motor vehicle accident, the accident is your fault, your insurance company will pay up to $25,000.00 per individual for bodily injury and a total of $50,000.00 per accident, no matter how many people are involved. At today’s medical rates, some minor medical procedures can cost $25,000.00. What people need to know is once your insurance pays, you may have to pay the balance. So if you don’t want to run the risk of paying, you need to talk with your insurance agent about increasing those limts.