3 insurance steps

Insurance agents know how to use insurance to protect their assets and their family.

If you are ever in a situation where you are being advised to do something or maybe someone is trying to sell you something you want but you just can’t make up your mind.

The most common question you should ask is “Well what do you do?”

I think it would be great if a financial advisor would let you see their financial portfolio of stocks and show you where they invest their money.


What about an insurance agent?

Here are three policies or endorsements insurance agents buy to protect themselves.


These are three things you can and should do for you and your family.


Raise your Auto Insurance limits

Think back to when you first were able to buy your own car.

More than likely you had no money.

You asked someone in your family where do they have their auto insurance and you started calling around for the cheapest possible policy that was “whatever the state requires”.

The problem is as you, hopefully, reached greater financial stability in your life,

you never raised your liability limits as you acquired more assets.

I meet many New Orleans homeowners that may have a 300,000 house and minimum limits on their auto insurance.


If you own a house, your auto limits should be 250,000/500,000.


Because it qualifies you for an umbrella (more on an umbrella later).

If you can’t afford 250,000/500,000 than try to level up at renewal.

At every auto insurance renewal,

increase your liability limit to the next level.






You would think that your auto insurance premium would double when you go up a level

but the answer is no.

Here is an example of an auto policy premium increase as you level up your liability limits.

The increase is less than you think.


[ultimatetables 4 /]

*the figures represent the additional amount to go from 15/30 to the new liability level selection


With Low Auto Insurance limits, you are driving around with all your assets on the table for some stranger and plaintiff attorney to take from you.

Bad things happen to good people.

Accidents happen.

Something that could never happen in a million years, only takes a second.

Hit the wrong the car and disable the other driver?

Are your current auto liability limits enough?

If not, your personal assets and future earnings are exposed. 

A judge or jury of your peers could decide you owe much much more than your auto insurance liability limit.


Buy Uninsured Motorists Coverage to the same limits as your liability limit

Too many insurance agents push a UM rejection to a customer so their insurance quote will be competitive.

I was told from a customer we helped that her agent from a major well known company told her

“you don’t need uninsured motorists coverage”

Well maybe she didn’t need it but more than likely the agent had it on his auto policy.

Why is Uninsured Motorists so important?

Living in New Orleans there is a high percentage of uninsured drivers on the road.

That’s the simple answer.

But the added benefit is that Uninsured Motorists is also Under Insured Motorists.

So if you decline UM coverage you are going to assume every driver on the road is insured or they actually purchased enough liability insurance to protect you and your family in an auto accident.

We know that is just very unlikely.

When you purchase Uninsured Motorists Coverage

you are basically providing the limit you purchase and adding it to every car on the road.

So if you purchase 250,000 UM limit,

now every vehicle on the street has 250,000 of liability insurance if they are at fault in an accident and cause you or your family injury.

Another way to look at Uninsured Motorists coverage is to make it disability insurance for you and your family when you are in a car.

Some of your friends, neighbors or even you can’t earn a living if they can’t go to work.

If this is you and you are injured in a car accident,

what are you going to do?

Hope and pray the other driver has insurance?

What if they only have 15,000 of liability and you are out of work 5 months and lose you job?

That is where Uninsured Motorists Protection kicks in.

Either the other driver doesn’t have enough liability to protect you or they don’t have any.

Your policy takes care of your

  • Lost wages
  • Medical Bills
  • Pain and Suffering
  • and many more our local attorneys can claim


If you can’t afford the same Uninsured Motorists limit as your auto liability limit,

choose the limit that is the same as your annual income.

So if you make 50,000 a year, 

make your Uninsured Motorists limit 50,000/100,000.

Another added Bonus

The Uninsured Motorists limit also takes care of your family members if they are injured in the accident.

to learn more about uninsured motorists

take a look at Uninsured Motorists Coverage


Buy an Umbrella policy

An Umbrella policy is the most important policy that an insurance agent can offer to a client but seldom is it ever discussed.

Any successful insurance agent will tell you they have an Umbrella policy.

Any financial advisor will say they have an Umbrella policy.

Once you reach 250,000/500,000 on your auto insurance liability

you can now purchase an Umbrella policy.

A standard personal Umbrella policy limits are usually 1,000,000-5,000,000.

Some companies offer up to 10,000,000 if needed.

When you purchase an Umbrella policy,

you get an additional 1,000,000 of liability protection over your

  • cars
  • house
  • boat
  • rental dwellings
  • motorcycle

And the annual premium of the policy can be as low as $250.

to learn more about an Umbrella policy go to

Personal Umbrella Explained


What’s this all about?

Insurance should be used to protect you from a financially devastating event.

Not because your mortgage company makes you get homeowners insurance.

Not because the state makes you get auto insurance.

More than likely when you purchased your first auto policy,

you had no money.

When you purchased your first house,

you probably had limited financial security.

If you are in a position to now review your insurance coverage and you are interested in protecting your assets,

now is the time to consider

  • raising your auto insurance limit
  • buying uninsured motorists protection
  • buying an umbrella


Protecting yourself and your family from any unexpected event that could take down what you worked your entire life to get is why you get the insurance protection you need.

Use insurance to protect yourself and your future.



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