Liability Insurance Cost: Can You Afford It?
Liability car insurance covers the costs associated with injuries and damages that can arise from an auto accident. Although it adds an extra cost to your regular auto insurance premiums, it's generally legally required - and can protect you from financial catastrophe. In short, you can't afford not to have it.
What is Car Liability Insurance?
Automobile liability insurance provides you with financial protection if you cause an accident on the road. It covers injuries and property damage suffered by other drivers and passengers who are involved in the crash.
Most car liability insurance policies define two categories of protection. These are bodily injury liability and property damage liability. Bodily injury liability covers the costs arising from injuries suffered by the other driver, such as medical bills and loss of income. Property damage liability covers the costs of repairing or replacing the other driver's vehicle if your actions caused it to be damaged.
It is important to note that car liability insurance only covers the costs of other parties in the accident. It does not cover any injuries or damages that you suffer yourself. Despite this limitation, it is still extremely important to have auto liability insurance to protect yourself from serious costs after an accident.
How to Claim Against Car Liability Insurance
You should not ever need to file a claim against your own car liability insurance policy. Instead, the injured party or their insurer will file a claim against your insurance provider. Your insurer will respond to this claim and pay out an appropriate amount to cover medical bills and damage to the third party's property.
Similarly, if you are involved in an accident that was not your fault, your insurer will file a claim against the at-fault driver's insurance to ensure you get the money you deserve. This process should be very easy for you, allowing you to focus on recovering from the accident.
How Much Car Liability Coverage Do You Legally Need?
The minimum amount of car liability coverage that you are legally required to have varies by state. With the exception of Florida, all states require you to have some level of bodily liability coverage.
Florida does not require any bodily liability coverage, but requires that you have coverage for at least $10,000 of property damage per accident. All other states require this much or more property damage liability coverage in addition to some level of bodily liability coverage.
How Much Car Liability Coverage Should You Get?
It is often a good idea to get a higher level of car liability coverage than the minimum amount that is required in your state. If a third party brings a lawsuit against you for the costs of their injuries or property damage, you could end up facing astronomical costs that could financially debilitate you and your family. Having a high level of car liability insurance protects you against this scenario, allowing you to drive with greater peace of mind.
Of course, you also have to take the costs of the policy into account. In general, car insurance policies that offer a higher level of liability coverage have higher premiums. It is up to you to find a sweet spot that balances the risks of having too little liability coverage with the costs of having too much.
How to Get a Quote for Car Liability Insurance
The fastest, easiest way to get a quote for car liability insurance is to visit AutoInsurance.com. Here you can compare policies to work out which one is the best option for you.
AutoInsurance.com allows you to clearly see how much bodily injury liability coverage and property damage liability coverage each policy provides, as well as the cost of the policy. You can compare policies to see which one offers the best value for money.
Key Features to Look for in a Liability Insurance Policy
When shopping for a car insurance policy, it is a good idea to look at more than the headline price of the policy and the amount of coverage it provides. You should also look at the company's payment policies to find out when payments are due and what happens if you are late making a payment. Some companies offer payment plans that might help you spread the cost of car liability insurance, while others offer discounts to certain groups of people. For example, you might be able to get a discount for having a good driving record, installing safety features of your car, having a professional affiliation, or using the same insurance company for both your home and car insurance.
It is also a good idea to research the insurance company. Read reviews online to find out whether they offer a good experience to customers. This will help you to select an insurer that will be easy to deal with.
Find Your Car Liability Insurance Policy Today
To take the first step in finding the right car liability insurance policy for you, head to AutoInsurance.com. Here you can compare policies and find out more about the various insurance providers.