Washington state, including King County, requires minimum liability insurance to register and operate a motor vehicle, but these liability minimums may not provide enough coverage for high net worth individuals, especially in King County.

If you exceed your property damage insurance cap when at fault in an accident, you could have to pay the difference. And with the price of vehicles today, that’s likely to be significant.

Are You a High-Net-Worth Individual?

If so, your financial exposure is even greater after an accident. Medical care for serious injuries or disability is expensive — much more than what is covered by minimum insurance requirements.

It makes sense, therefore, to increase your liability coverage to a more realistic level. The greater your net worth and the more you drive, the higher your liability protection should be.

Another way to increase your liability protection is to have a personal umbrella policy. This picks up where your auto coverage leaves off. It covers not only liability but also legal fees and court costs in case of a lawsuit.

Personal umbrella insurance is quite versatile and provides protection for accidents in your home as well. We recommend it for:

• High-net-worth individuals
• Dog and horse owners
• Public figures
• People who entertain frequently
• Property owners with swimming pools

Make Sure You Have Proper Full Coverage for Your Luxury Vehicle

If you drive a luxury vehicle, you probably already carry full coverage:

• Collision insurance to cover your own vehicle after a crash
• Comprehensive insurance in case of fire, storms, theft, or vandalism

We encourage drivers of luxury and custom vehicles to bump up their full coverage, similar to their liability protection. It should realistically cover the cost of repairs for imports, sports cars, luxury SUVs, and customized pickups. Otherwise, you’re subject to costly out-of-pocket expenses should the worst happen.

Our Independent Agents Can Tailor a Policy for Your High-End Vehicle

We have many more auto insurance options for you at Spangler Insurance than you’ll find with big insurance companies. You'll also get the benefit of personalized service and a policy customized to your unique needs.

From Seattle to Snoqualmie Pass, we’re here to make driving in King County safer and less financially risky for you. Call us at 206-329-7447 to let us know how we can help with your auto insurance needs. Or start a policy online any time to get the conversation started.

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