As you may know, Elon Musk suffered a setback when a rocket launched by his company, SpaceX, went up in flames. According to an article by Time magazine, he may have had the opportunity to insure that rocket, but chose not to.

Now, you may look at Elon’s decision and be thinking, “How could someone be so careless?!” Personally, I think Elon made an educated choice of not insuring the rocket, and took a knowing risk that simply didn’t pan out.

That said, you – right at this very moment – may be taking just as serious a risk as Elon took without even knowing it! Did you know that when you buy your car insurance, the insurance companies label you “fully insured” when you purchase the minimum amount of liability and underinsured motorist coverage?  In Virginia, that’s only $25,000!

Do yourself a favor, not this weekend, but right now: Review your auto policy and make sure that you have at least $500,000 in liability and underinsured motorist coverage. If you don’t have that amount, call your carrier immediately and change it! The difference in your premiums will be minor.  Hopefully, you’ll never have to use it. But it should grant you some ease knowing that it’s there!

For a free review of your car insurance policy, fax your declarations page (it's the page that shows what you bought) to Ben Glass on his secure fax line at (703) 783-0686. Car policy reviews are one of many benefits to being a BenGlassLaw VIP member. Register at today!

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