If you are not properly insured, you can lose your house over an auto accident. Lawsuits over auto accidents can become extremely expensive, especially if they involve multi-car pile-ups or fatalities. If you are deemed responsible for such an accident, then all of your assets, including your house, may need to be sold to compensate others for their losses.
Be Properly Insured
On the other hand, if you are adequately insured, then the likelihood of losing your house on account of an accident greatly diminishes. Although the reparations may be the same amount, your insurance company would pay them, rather than yourself.
There are two keys to being properly insured against a major auto accident. First, you should have a generous auto insurance policy. Second, you may want to complement this policy with a personal umbrella insurance policy, which offers additional protection in $1 million increments.
If you would like to go over your current protection or look for additional coverage, contact Stromsoe Insurance Agency. Licensed in 18 states, they can help you protect all of your assets, including your home.