Times are Tough. Here’s Why Reducing Your Policy Coverage Could Harm You.

Are you being hemorrhaged by the rising costs of inflation like many others? If so, we hear and understand your concerns. You’re not alone. 

With the inflation costs getting higher each month, insurance premiums are steadily following the same pattern. This is one of the reasons we do our due diligence at your renewal time and look at many carrier options to ensure you’re getting the best rate for your coverage.

With this being said, the one thing you do not want to do however is reduce your current coverage limits.

As American motorists are strained by inflation and the rising cost of vehicle ownership, around 10% are considering dropping their auto insurance coverage as a way to save money, according to Insurify’s 2022 Auto Insurance Trends report.

Engineer Crafted Policies

Unlike many other agents you have worked with in the past, we analyze and craft your policies differently

Using over 20 years of experience and backgrounds in engineering, your policies are crafted with all of your assets and family in mind. By doing this, we ensure that all of you have the perfect coverage for your vehicle, home, and family. 

Lowering your coverage can put you, your family, and your business in serious jeopardy. Now, let’s talk about the dangers of lowering your coverage.

The Danger In Lowering Your Coverage

With compounding issues such as uninsured and underinsured motorist rates as well as rising replacement costs on your home, reducing coverage could cripple your ability to be covered against accidents and catastrophes.

In 2019 alone, the average of uninsured drivers on the road was about 12.6% while reaching as high as 30% in states like Mississippi and New Mexico. You can only imagine how drastically the number has increased due to the current state of the economy.

In regards to your home, lumber prices have increased to over 300% of the costs from April of 2020. This accounts for the increase in the replacement cost of your home. 

But How Will Lack Of Coverage Truly Affect Me?

  • Force you to exhaust all of your limits in the event of an accident with the possibility of not covering enough. This could leave you out of pocket for the rest of the expenses
  • Not cover the full amount to rebuild your home, leaving you with less than what you had before
  • Not cover the entirety of medical bills or disability
  • Potentially force you to pull out of retirement savings, investments, or life insurance policy to cover excess costs

The main reason many people have qualms about insurance not working is that it wasn’t done right

We take every aspect of your life into consideration when engineering your policies so when you need to use your insurance, it covers everything you need.

We want you to understand that at the end of the day, we work for you, not the carrier. We are constantly looking for solutions to keep you and your pockets secure. 

Without you, we wouldn’t be here today. We are sincerely grateful that you chose us to help protect your legacy.

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Are you ready to save time, aggravation, and money? The team at E3 Insurance is here and ready to make the process as painless as possible. We look forward to meeting you!