Auto Insurance Liability Limits
The liability limits of your auto insurance policy will provide coverage for any property damage or bodily injuries that you cause in an accident. Fully understanding your liability limits and requirements can help to make sure that you have the coverage you deserve while on the road.
Auto liability insurance will provide coverage for three main situations, including:
- Property damage – which will cover any damage that you cause to another person’s property during an accident that was your fault, up to your policy limit.
- Bodily injury for one person – which will cover the costs of any injuries that you cause to one person during an accident that is your fault.
- Bodily injury for all parties – if you injure more than one person during an accident that you cause, your liability coverage will pay for the medical expenses of all persons that you hurt.
When deciding how much liability you need to invest in, there are two main considerations, the state minimums and your assets. In California, you are required to carry minimum liability limits of $15,000 for injury or death to one person, $30,000 for injury or death to more than one person, and $5,000 for property damage coverage. Keep in mind that those are just the minimum required amounts and you have the option to invest in more coverage to keep you better protected.
You should also take a look at your assets and what you have to lose after an accident. If you do not have enough liability protection to cover the cost of an accident, your assets and wages can be seized to cover the costs. Choosing the right limits can help to make sure that all of your assets stay safe.
For help choosing the right auto insurance liability limits that will work best for your needs, contact Martplan Insurance Agency in La Habra, California.