Bodily injury liability
Posted by: info | March 18, 2007
Many drivers don’t know how to buy auto insurance properly. Some of the terms and details are very tough even for agents. A lot of drivers select the state minimum in coverages they don’t understand or don’t care much about. This article will go into detail about bodily injury liability, including coverage options, definition and how to get more bang for your buck. This information can be very important for your auto insurance policy or when you fill out an auto insurance rate quote.
The definition: Bodily injury limit is the maximum amount your insurance policy will pay when an insured person becomes legally liable for bodily injury or death caused by an insured person in an auto accident. Property damage limit: This is the maximum amount your insurance policy will pay when an insured person becomes legally liable for damage an insured person causes in an auto accident to the property of other people (e.g. light poles, fences, another vehicle, etc.).
State Minimum: Many states have different minimums and requirements for bodily injury liability. You will need to select the maximum limit you want your auto insurance company to pay per person and accident. My state minimum is 10k per person and 20k per accident. I was able to increase my coverage to 40k per person and 80k per accident for less than $1 over 6 months. So I was able to get 4 times the coverage for less than 0.18 cents a month. This could save me some big money if I caused a lot of damage or had an accident involving other people. The extra coverage gives me peace of mind for very little cost. This is why it is important to look at the cost difference for increasing your bodily injury liability.
Coverage Options: A lot of insurance companies will give you coverage options that double. For example if your minimum is 10k per person and 20k per accident, the next choice will most likely be 20k person and 40k per accident. It just goes up from there. You may want to select the minimum during a quote and inquire on the price change to up your coverage at a later time. It would be a smart move to get more coverage if the price is about the same.
Tags: bodily injury liability, bodily injury limit, property damage limit, auto insurance rate quote, state minimum, coverage options, 40k per person and 80k per accident
Posted in: Insurance, General |
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