Understand Your Auto Insurance With Our Low Limit Survey

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LIABILITY INSURANCE COVERAGE LIMITS The amount your insurer will pay for a covered liability insurance claim depends on the coverage limits you choose. Each state sets minimum coverage limits for bodily injury liability and property damage liability that drivers must purchase, but you may decide to buy additional coverage. You may see three liability coverage limits on your car insurance policy:

1. Property damage liability limit. This is the maximum amount your insurer would pay to repair damage you cause to another party's property. The maximum payout would not exceed the limit you've set.
2. Bodily injury liability limit per person. This establishes a maximum payout for each individual who is injured in an accident that you cause.
3. Bodily injury liability limit per accident. This sets a cap on the total amount that your insurance provider will pay out for all medical expenses other people incur from a single accident you cause. It's important to set this limit at an amount that makes you comfortable, as it may be needed to help pay for the medical expenses incurred by multiple people.
4. All of the Above

HOW MUCH LIABILITY INSURANCE SHOULD YOU BUY? Any costs that exceed your liability coverage limits are your responsibility — in other words, you'd have to pay them out of your own pocket. That's why it may be a good idea to increase your auto liability limits above the state's minimum requirements by purchasing more coverage. Consider the following: You are at fault for a crash that injured three people in another car. Your bodily injury liability limit per person is $50,000 and your bodily injury limit per accident is $100,000. If Person 1's medical bills total $40,000, Person 2's cost $30,000 and Person 3's cost $25,000, you're likely covered. Each person's bills were under $50,000 (your bodily injury limit per person), and the total cost of injuries is $95,000, which is lower than your $100,000 bodily injury limit for a single accident. But suppose all three people had $50,000 in medical bills, totaling $150,000. In that case, your bodily injury liability coverage would pay $100,000 toward those bills, and you may need to cover the remaining $50,000 yourself.

We set up this survey to help you understand the financial impact having lower limits of insurance might have. Some of the answers are giving to you, however some we need from you if you want to keep or change the current quote we provided.