Liability coverage is a critical component of your insurance policy. This is because if you are directly responsible for an accident, liability coverage will help you to pay for any expenses incurred. The typical insurance policy consists of two types of liability coverage namely bodily injury liability and property damage cover. How can these two types of liability coverage help you?
Basic liability coverage is very important for any driver. For this reason it is a requirement in many American states. If you don’t have enough liability cover you could become involved in costly legal battles amounting to thousands or even millions of dollars. The majority of states require drivers to carry liability cover in the region of 50/100/25.
This means that an amount of up to $50,000 is granted for a single person injured by you in a car accident, and up to $100,000 for everyone injured. This isn’t all that much when you think of the actual costs of an automobile accident. More liability coverage is definitely advisable for most drivers.
In addition, the more liability coverage you buy the more your protection goes up. Premiums are likely to increase a little but are far outweighed by additional cover. In particular, drivers should make sure they have enough bodily injury liability coverage. This will make sure that you are protected against costly medical bills and lost income fees which may reach the million mark.
Standard liability coverage in terms of bodily injury coverage is 100/300. That’s $300 00 for bodily injury coverage. Not all that much in the event of a serious accident. You should probably get more. It may mean buying less property damage cover in the long run but it may well be worth the cost. This is because property damage is likely to cost far less than injuries do. If you can afford it, make sure you have enough of both types of cover for the best protection.