If you are like me, you miss the lower prices of 2019. Since almost everything costs more, replacing it also costs more. Car repairs? More. Medical bills? More. Rental cars? More. The tiny plastic clip that holds something important under your hood? Somehow, even that is also more.
Price increases—we’ve all seen them, and everyone feels the effects. It may take a few years for insurance companies to recover from the last handful of economic curveballs. Rates from 2019 are long gone, but we’re not helpless. If we know how auto coverage works and what discounts are available, we can actually “win.”
A lot of people think buying less coverage saves money. Sure, they may pat themselves on the back at first—until the better question shows up like an uninvited guest: “What if I’m in an accident?”
We gamble every day. Every step is a gamble. I could trip and break my arm, you could wake up in a hospital with no clue about what happened, and someone else could text their way into your bumper at 40 mph. The best thing we can do is be prepared. Insurance is all about “just in case.” And honestly, “just in case” is the unsung hero of adulthood. I put my keys in my pocket just in case. I carry snacks just in case. I pretend I understand everything about car repair just in case someone asks. Insurance works the same way.
Now let me back up, because I can’t count how many times I’ve heard, “Yeah, but I’m a careful driver. I’ve never been in an accident.” Let me say it loud and clear for the people in the back: it doesn’t matter how careful you are. You are sharing the road with thousands of other drivers, and the only thing separating you from a two-ton vehicle traveling the opposite direction is a painted line. A painted line. That’s not a safety feature; it’s optimism.
And what if the universe hiccups and you actually do cause an accident? Would your policy pay to fix the car you rear-ended… and the car in front of that… and so on? Multi-car accidents are basically the insurance version of a domino setup you did not mean to touch.
Here’s where you get the advantage: look at the limits on your auto policy. Start with your bodily injury and property damage limits (BI/PD). If you see $30,000/$65,000/$25,000 (30/65/25) or less, you’re probably not getting the best bang for your buck. The recommended minimum is $100,000/$300,000/$100,000 (100/300/100), because it gives you far more protection for what’s usually a surprisingly reasonable cost.
Quick disclaimer: Your rate is tailored to YOU. Don’t expect the same price as your neighbor, your twin brother, or the guy who owns “the same kind of car.” It doesn’t work that way.
If you already have 100/300/100, congratulations. You are officially gold-star-on-the-forehead certified. If your limits are higher, you’re even more impressive. If you have a liability umbrella policy, you may be a genius (wink, wink)!
You can’t predict the future, but you can prepare for it. And when you do, you don’t just have insurance; you have peace of mind. That’s the real win.
If you would like more information about auto, home, business, or life insurance, call Sally White at 435-673-3459 or visit www.sallywhiteagency.com.
Prosperity & Purpose
ABOUT THE AUTHOR: Sally White has been an insurance professional in St George, Utah, for twenty-one years. Her experience and knowledge have been instrumental in the lives of her clients. They look to her for advice and trust her to take care of the things that matter most. As a policy springs into action, Sally is there to answer questions and guide her clients. She enjoys helping others understand their policies and offers no-cost insurance review consultations.