Auto Insurance Presentation
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Transcript of Auto Insurance Presentation
Protecting your future
Meet Tami and Christian
Roberts
and their three girls… Megan, Abby and Brooklyn.
They worked hard for several years saving for the down payment.
Tami and Christian
bought this house in
Idaho Falls seven years
ago.
Christian works as a Supervisor for the INL and Tami works as a waitress near Snake River Landing.
Christian drives a 2001 Chevy Silverado and Tami drives a 2011 Nissan Maxima.
TAMI AND CHRISTIAN CURRENTLY CARRY IDAHO’S MANDATORY LIABILITY LIMITS
OF 25 /50 /25 ON EACH OF THEIR VEHICLES
THEY ALSO HAVE COMPREHENSIVE AND COLLISION COVERAGE
They believe they are well protected
THE FIRST TWO SETS OF NUMBERS “25/50” ARE REFERRING TO THE COVERAGE LIMITS
AVAILABLE WHEN YOU ARE LIABLE FOR CAUSING SOMEONE BODILY INJURY.
THE LAST SET OF NUMBERS “25” REFER TO THE COVERAGE LIMITS AVAILABLE WHEN YOU ARE LIABLE FOR CAUSING
DAMAGE TO SOMEONE ELSE’S PROPERTY.
25/50/25 - BIPDWhat does that mean?
Bodily Injury 25/50 Property Damage 25
In the event of an accident, their auto policy will pay up to $25,000 dollars for each person injured and will pay a maximum of
$50,000 dollars per accident.
In the event of an accident, their auto policy will pay up to $25,000 dollars for
damage caused to the property of others.
Here’s how it works
Bodily Injury How will her policy pay?
Lets assume that Tami is on her way to work when she
collides with an SUV carrying five passengers.
Bill’s injuries = $20,000Edna’s injuries = $28,000Carrie’s injuries = $18,000Gene’s injuries = $15,000Susan’s injuries = $31,000
Tami’s policy will pay $20,000 for Bill’s injuries, $25,000 for Edna’s injuries
and $5,000 for Carrie’s Injuries; a total of $50,000
dollars as listed in her policy.
Personal Risk
Unfortunately, Tami will be responsible for paying what her policy does not cover; $3,000
dollars for Edna, $13,000 for Carrie, $15,000 for Gene and $31,000 for Susan. A total of $62,000
dollars.
What about the others?
What about the SUV?
The SUV carrying the five injured
passengers was a total loss; A 2009 Cadillac Escalade worth $50,000.
Tami’s Property Damage limits will
pay $25,000 for the loss, as
described in her policy.
Tami will be responsible for paying what her policy does not cover… $25,000
dollars.
Obligation for Bodily Injury
Obligation for Property Damage
The amount of money Tami and Christian
must pay for injuries not covered
by their policy is:$62,000 dollars
The amount of money Tami and Christian
must pay for Property Damage
not covered by their policy is:
$25,000 dollars
$87,000 Dollars
THEY MAY BE FORCED TO CASH IN THEIR
INDIVIDUAL RETIREMENT ACCOUNTS.
THEY MAY BE FORCED TO WITHDRAW THE SAVINGS PUT AWAY FOR MEGAN, ABBY
AND BROOKLYN'S EDUCATION.
THEIR PROPERTY MAY BE SEIZED AND SOLD AT AUCTION.
25% OF THEIR WAGES MAY BE GARNISHED EACH MONTH UNTIL THE JUDGMENT IS
PAID.
How will they pay these obligations?
THAT’S WHY THEY ARE
CALLED ACCIDENTS.
She never thought this could happen to her.
YES!
Is there anything Tami could have done to protect herself?
Bodily Injury – 500/500 Property Damage - 500
If Tami carried liability limits of 500/500/500 on her
policy, here’s what would have happened in that
same accident:
$20,000 for Bill is paid.$28,000 for Edna is paid.$18,000 for Carrie is paid.$15,000 for Gene is paid.$31,000 for Susan is paid.
With Property Damage limits of $500,000, Tami’s
insurance company will pay the entire $50,000 of
the property damage costs for the 2009 Cadillac
Escalade.
500/500/500BIPD
THE CHILDREN’S EDUCATION FUNDS ARE PROTECTED
TAMI AND CHRISTIAN’S RETIREMENT
ACCOUNTS ARE PROTECTED
THEIR PROPERTY AND REAL ESTATE IS PROTECTED
THEIR FUTURE EARNINGS ARE PROTECTED
The Roberts family is now protected.
Do you have the kind of
protection you need?
Contact Farmers Insurance Agent
Will Davis
208-534-7078
“Let me help you protect the things that
matter most to you.”
Don’t be forced to sacrifice your future. Call 208-534-7078 and let me help protect you and your family.