Articles
Newsletter
Home 
Automotive Cars Inexpensive Car insurance - At what Liability Limit
Automotive Cars Inexpensive Car insurance - At what Liability Limit
| Inexpensive Car insurance - At what Liability Limit |
 |
 |
 |
| Written by Joseph Welusz |
| Monday, 04 August 2008 14:22 |
|
The amount of insurance you will need will always be determined to late, once you have an accident. To try to understand how to protect yourself, you first need to know what your liability insurance will cover. It is always broken up in two parts bodily injury and property damage liability. Bodily Injury liability includes the injury that are suffered due to on automobile accidents. 1. First Aid at the Accident 2. Medical bills due to injuries 3. Money for lost wages 4. Death benefits 5. Legal defense fees and/or bail bonds for anyone listed on your policy Property damage liability makes the damage that is cause due to an automobile accident. 1. Homes, building, etc that receive structural damage 2. Restauration cost for other immobile objects 3. Car restoration or replacement expenses So, you are probably thinking to yourself what coverage limits should I have? Minimum liability guidelines are set by each individual state, they are usually 15,000/30,000/15,000 worth of coverage. The reason there is 3 numbers instead of two is because body injury liability is usually set in split limits but you could request a single limit of coverage. Split Limit coverage: Limits are split into two for bodily injury coverage and then there is a separate coverage for property damage. If you take the example from above $15,000/$30,000 coverage, the $15,000 represents the total amount of bodily injury coverage that will be paid out to any one person during an accident. The $30,000 represents the total amount of bodily injury coverage that will be paid out for the entire accident. If you had a single limit of coverage it would include a maximum to be paid out but no individual maximum and it could be divided however needed. The number that always ends your liability coverage is your property damage limit in the above example it is represented by $15,000. You have probably realized the disadvantage of carrying stat minimum limits 15,000/30,000/15,000. With the price of cars rising and the already high costs of property around the country it makes sense to have more than the 15,000 for property damage. With medical expenses at there highest ever it only makes sense to raise your bodily injury limits as well. The most common amount of coverage around the country is split limit of 100,000/300,000/50,000 but you might want to consider even higher limits. The cost to raise liability from 15,000/30,000/15,000 to 100,000/300,000/100,000 or even higher shouldn't cost more than a couple of hundreds of dollars per year. I'll personally spend a little more now to save thousands later just in case I was sued for expenses costing more than my coverage limits. About the Author: The preceding article was written by licensed insurance professional Joseph Welusz who tries to help you get Free Insurance Quotes. He has written interesting articles related to various insurance issues for QuoteMatcher.com. Where Insurance Quotes are always available for free. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
| Last Updated on Sunday, 10 August 2008 13:59 |
Stumble It!
Members : 1254
Content : 2297
Web Links : 1
Content View Hits : 308765
Content : 2297
Web Links : 1
Content View Hits : 308765