How Much Car Insurance Is Enough: Liability Insurance
In part 1, we discuss the deductible and what you should consider is associated with low vs. high deductible. The second part is a very important part of the coverage your vehicle is accountability.
What is Liability Insurance?
Liability car insurance covers damages to others due to accidents that impact You. This is one of the most basic types of coverage and also mandatory in every State. The actual minimum coverage limits may vary from State to State.
Understand the scope of coverage
The scope of coverage is represented by three numbers. This may appear as 25/50/15 or 100/300/100. Find out what is the meaning of these numbers is very important.
The first number is the maximum payable to "wounds" others in the crash. (Think in terms of medical expenses for this one.)
The second figure is the "pay maximum per accident." Add all the insurance fee paid, and the amount does not exceed this amount.
The third figure is the maximum for "property damage" against other people's vehicles and other property damage also done (such as railings, fences, buildings, etc)
How much Liability Insurance Coverage do I need?
Although the minimum limit may be lower, the amount of the obligation that is very common is selected is 50/100/50. However, we recommend that you make Your liability coverage as high as you can afford. You are interested to do so.
Let's consider if you had an accident when you reach someone else's vehicle. Costs may include:
Vehicle
According to USA Today, in 2014 the price of a used car an average of nearly $17,000.
Ambulance to hospital to be checked
Ambulance ride can cost from $500-$2000 depending on where you are and what is needed. L.a. Times reported that one woman's insurance company cover the $750 for travel ambulansnya and he should be paid more than $1500 for the remainder of the cost.
Medical costs (the emergency room, the hospital, x-rays, tests, etc.)
One of our customers spend one night in the hospital last fall. At a time when all the costs are added, the Bill is more than $9,000. It was just for one night to be checked and monitored.
While all of this is a very common figure, they add up quickly. The responsibility of the costs of accidents can quickly reach $25,000 or more. If you bring a minimum of Tennessee (25/50/15), all of these costs will be closed. However, what if it's a new car for $35,000? What if there are injuries that require some of the night's stay in the hospital followed up with physical therapy and other doctor visits. With coverage of minimum, maximum insurance cost is $50,000. You are responsible for the rest.
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