What is Liability Coverage?
Liability Protection is included in your automobile insurance policy regardless of which state you are in, it’s mandatory at some point. But are you aware of what Liability Coverage means and how it is protected?
Liability is usually built from two components
(1) Bodily Injury
(2) Property damage.
Bodily Injury Liability coverage will protect you in the event that you’re responsible for an accident that causes harm to an individual.
Bodily Injury Liability may aid you in paying the medical expenses of another person as well as compensation for lost income and urgent assistance at the accident site as well as legal costs if the person decides to sue you.
Two limits exist within Bodily Injury Coverage
(1) Bodily Injury
(2) Property damage.
For instance, Within a policy, you could see a $50,000 maximum per person, and the maximum amount is $100,000 per accident.
There’s also insurance for property damage liability to cover damage caused by you to another’s property, but not your own.
If you smash into another car, for example, or run into their home or their storefront.
Insurance for property damage liability can be used to pay for structural damage repairs and replacement expenses for stationary structures like fences, or even repair and replacement.
It can even keep your assets secure if an accident covered by insurance results in an action.
In your insurance policy, the Per-person per accident, Per accident, and Property limit for damage are typically set as follows
Per person Per accident Property damage
100/ 300/100
Accidents can result in financial responsibility. It’s recommended to ensure you have sufficient liability coverage to safeguard yourself.
So now for a quick overview:
Coverage for liability is Injury to the body+ property damage coverage
Injury to the body liability insurance can cover medical expenses and other expenses that arise if another person is injured in an accident you’re accountable for.
Insurance coverage for property damage assists in protecting your property and assets as well as paying for structure damage, a stationary object, and the vehicle of another.
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