Dear Auto Insurance Enthusiast ,
The best way to determine what coverage is right for you is to understand what type of coverage is available. The best place to do this is on your declaration page. It’s normally the first page of your insurance policy. It explains which vehicles are covered, what your annual premium is, and how much of each coverage you have. The most important part of your auto insurance is your liability coverage. Your liability insurance protects you in case of an accident where you hit a person or object and injure somebody or cause property damage. What is Bodily Injury Liability? Bodily injury liability provides coverage in case you cause an accident in which another person (or people) is hurt . It covers the damages that you’re legally responsible for, and covers the cost of a legal defense if someone sues you for damages. Bodily injury coverage is mandatory in most states, and most states have a minimum limit, so be sure to check your state’s requirements.? What does Bodily Injury Liability cover? Bodily Injury liability limits are typically shown like this: $100,000/$300,000. This is meant to represent the highest amount per person and per accident that your insurance company will pay. So for example, if your limit is $100,000/$300,000 and you caused an accident that injured other people, your insurance would pay up to $100,000 of one person’s medical bills and up to $300,000 for more than one person. How much coverage do I need? When choosing your Bodily Injury liability limits, you should consider all of your assets, including your home and future earnings. Why? Because if you don’t have enough coverage to protect all of your assets, those assets could be at risk if you’re liable for damages that exceed your coverage limit. What is Property Damage Liability? If you ever cause an accident, your Property Damage Liability coverage will pay for the damage done to anyone else’s property, whether it’s another vehicle, a lamppost , or even a house, up to the selected amount. As part of your Liability Insurance, Property Damage coverage also pays for your legal defense costs if you are sued as a result of these damages. Who Needs Property Damage Liability Coverage? Everyone needs Property Damage Liability coverage. Property Damage Liability coverage protects you in case you cause an accident that results in damage to the property of others. In most situations, this insurance is required by law. Who Needs Property Damage Liability Coverage? Everyone needs Property Damage Liability coverage. Property Damage Liability coverage protects you in case you cause an accident that results in damage to the property of others. In most situations, this insurance is required by law. What is Other Than Collision Coverage? Other Than Collision Coverage covers losses resulting from accidents other than collision. For example, you are covered if your auto is stolen or damaged by flood, fire, or vandalism. Ever had a tree limb fall on your car during a storm? Or had someone break into your car? That’s what this coverage is for. If you own or lease your car, your bank may require you to carry Other Than Collision coverage. What should my Other Than Collision deductible be? When choosing an Other Than Collision deductible, or if you want to purchase comprehensive coverage at all, it’s important to think about the age of your car and how much you think repairs might cost you. An Other Than Collision deductible is the amount of money you would be comfortable paying out of pocket if you ever suffered this kind of loss. So if your car was stolen and you had a deductible of $ 500, you would pay $ 500 out of pocket and Liberty Mutual would handle the rest of the expenses. Medical Payments Coverage Pays for medical expenses incurred by you and anyone in your vehicle from injuries suffered in a car accident, regardless of fault, up to the limit you purchased per person. Uninsured Motorist Provides bodily injury coverage for you, family members, or occupants when injured by another driver who is unidentified (hit and run) or has no liability. Underinsured Motorist Pays for medical expenses incurred as a result of bodily injuries (up to your policy limits) caused by another driver who does not carry enough Bodily Injury Liability coverage.
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