Kinds of Liability Insurance
After discussing Liability Insurance and Full Coverage vs Liability – Which Is Better now lets see types of Liability Insurance.
Basically there are two Kinds of Liability Insurance
Auto liability policies have limits. The limit is the total amount of money the policy will pay out to cover you.There are two different kinds of policies:
Combined Single Limit policies cover damage to property and bodily injury in one policy.
Split Limit policies have separate amounts of coverage for property damage and bodily injury.
The coverage for bodily injury is also often split. You can get coverage on a maximum payment per person or maximum payment per accident basis.
Usually, the higher the limit on your liability policy, the more that policy will cost you. So before you buy a policy, consider how much protection you need. And think about how much you can afford. Like buying any other insurance policy, you want to find a balance between your coverage needs and your budget.
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Related Information
Best Ways To Save Money On Your Auto Ins
1. Drive Less for and get a discount
Some carriers will discount your premium with a low-mileage discount if you drive less than 7,500 miles per year. Also ask your agent if you can receive a commuter discount for using public transportation.
Get the answers you need.
Collision Coverage:
Collision Coverage covers damage to your vehicle if your car hits or is hit by another vehicle, less your deductible.