Category Archives: Basics Car Insurance

Car Insurance Liability Only, Definition, Limits and Cost

Liability car insurance is protection from financial loss by pays for the financial and non-financial of compensations for the not-at-fault party of a car accident whether property damage or/and bodily injury damage, within the limits of agreed coverage in addition to the medical expenses. Liability car insurance is obligatory in all states except for New Hampshire. But, the minimum limits differs from a state to another, Experts always recommend buying higher limits that exceed the obligatory minimum limit.

If you at fault in a car accident, you will pay for all property damage, Such as cars, lighting poles, a fence and a pet, and you will pay for all expenses needed Liability car insurance you will pay for property damage liability and bodily injury liability for medical care for injured persons, replace lost income, pain and suffering compensation, and other non-financial compensations. -Lawyers competing to get the biggest amount of which it- You can guess how much are the compensations per one person or more? And how much would it affect your savings and assets? By buying liability car insurance pay for all what was mentioned above but within the limit of policy, so insurance experts always recommend buying limits are higher than the mandatory limit of liability car insurance

Car insurance liability limits
The minimum requirement for car insurance liability varies by state,
Car insurance liability it consists of three items that take the format: 50/100/30 for example to express the maximum limit that will be paid by the insurance company on behalf of a party on the wrong side in a car accident to the other party.
50000$/100000$/30000$
50000 $ Bodily Injury Liability one person.
100000 $ Bodily Injury Liability for two or more people in an accident.
30000 $ property damage Liability for a single accident.

Liability car insurance cost
If you do not have a lot of savings and assets, the minimum mandatory for each state would be sufficient. If you have a lot of assets and savings, it is best to the limits of car insurance liability should be studied for you and consider securing an umbrella, which sometimes is called excess liability insurance.

Conclusion
Remember, liability car insurance is a means of protecting your savings and assets instead of paying it as compensations by law as a result of liability that could arise from a car accident of your fault.