Suggested Auto Insurance Coverage

Owning a car carries with it the potential for many types of significant loss. Protecting yourself from these losses requires periodic review and updating of your policy and proper arrangement of coverage.

Our philosophy...

We feel your insurance program provides the best protection and value when you choose higher deductibles and use the savings to buy higher limits of catastrophic protection.

Higher deductibles reduce your premium and allow you to self-insure the smaller losses that are not likely to cause significant harm to your overall financial situation. Using these savings to buy higher limits of coverage against major losses adds tremendous value to your insurance program.

To illustrate...

You're considering some changes to your auto insurance coverage. You discover that it will cost $50 to lower your collision deductible from $500 to $250. You find that it also costs $50 to increase your liability coverage from $100,000 to $500,000. If you only made one of these two changes, which one provides the greatest benefit?

In this example, $50 could either buy $250 of additional insurance (lowering Collision deductible from $500 to $250) or $400,000 of additional insurance (increasing lawsuit protection from $100,000 to $500,000). Obviously, increasing your liability coverage to $500,000 for an additional $50 is a significantly better value than reducing your collision deductible by $250. And this is the the essence of our philosophy about buying the right coverage with your premium.

Below is a coverage arrangement that uses your premiums wisely. It incorporates deductibles slightly higher than average and uses the premium savings to buy better protection against major losses. Both arrangements below typically result in approximately the same premium. We think you'll agree that the "Better Alternative" shown below offers much more protection for you money.

“Average” “Better Alternative”
Bodily Injury Liability $100,000/$300,000 $500,000/$500,000
Property Damage Liability $100,000 $500,000
Uninsured Motorist $100,000/$300,000 $500,000/$500,000
Under-Insured Motorist $100,000/$300,000 $500,000/$500,000
Comprehensive $50 deductible $100 deductible
Collision $250 deductible $500 deductible

Though our "Better Alternative" limits of coverage illustrated above provide more catastrophic coverage than those illustrated in the "Average" example, they may not be adequate under all circumstances. Additional coverage is available for a nominal increase in cost and an umbrella policy is suggested for even greater protection against lawsuits.

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Boer Insurance Group | 2535 Five Mile Road NE, Grand Rapids, MI 49525 | Ph: 616-363-7766 | Fx: 616-363-6626
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