Not exact matches
Step 3: Review your
policy to determine if you are over or
under insured and have
enough liability and
coverage to replace all the items on your list should you be required to buy them new.
But there are some cases where you might want to, for example if your new assets are subject to dollar limits
under your current
policy, or if you just don't feel you have
enough coverage anymore.
Until recently Wisconsin operated
under a
policy known as the Financial Responsibility Law which required all drivers to either purchase liability
coverage or have
enough money in their bank account to pay for any accidental costs.
Also, if the driver who hit you has some auto insurance but not
enough, «
under - insured» motorist
coverage can help cover the difference between your accident expenses and the driver's
coverage, up to the limits of your
policy.
You might have
coverage of Rs. 10 Lakh
under your family floater
policy, which is
enough for a family of 4.
What this means is that you need to feel that you are insuring
under a
policy that comes with high
enough limits and
coverage for you.
Under these
policies, your liability
coverage will come with maximum liability limits, so it may be in your best interest to pay a few extra dollars each month to get
enough coverage to fully protect you and your assets.