Get Prepared – WI Insurance Law Changes November 1

Wisconsin auto insurance laws are changing effective November 1, 2011. The changes repeal certain provisions enacted in 2009 by then Governor, Jim Doyle. One important change, is the reduction of the minimum Bodily Injury Liability limits back to $25,000 per person, $50,000 per Accident and a $10,000 Property Damage Liability. The change is significant, as many consumers were not able to afford the higher limits and increases passed in 2009. Going forward, the updates offer more affordability and choice for the consumer.

A good question to consider for yourself, is, “Are these updated limits adequate protection for me?” For many accidents yes, but for some accidents involving serious injury, or multiple injuries and multiple vehicles, they are not. To understand the ramifications of coverage limits and the likely cost associated with accidents, it’s helpful to consult a licensed, knowledgeable insurance agent.

When considering how much liability protection you should carry on your auto insurance, it’s also critical to understand why and how the coverage protects you. Unfortunately, many insurance companies today portray insurance as a commodity, a product purchased at reduced costs, which is the same product no matter from whom it is purchased. Nothing could be further from the truth. As I observe the same commercials our customers and potential customers watch, I notice that the companies focused on saving money and including discounts simply to not have an ample product array from which to choose. Product choice and scope of coverage are limited whereas saving money is touted. My challenge to you is to buck the trend of the insurance marketers and consider more than cost in your decision making process. Consult with a trusted professional and focus your attention on the value combination of cost plus the scope of coverage that you will receive.