As you’ve no doubt noticed in your search for car insurance liability coverage, there’s a lot of insurance advice out there for quick ways to save. But as you’re first starting out, you want to make sure that you’re dotting every “i” and crossing every “t.” Doing anything fast does not appeal to you, and as a conscientious individual, you want to make sure you’re protecting yourself and doing what’s best for you. With our help here at CoverHound, we can make that happen. Car insurance isn’t just something to have, it’s something you need.
Car Insurance Liability Coverage
In your research for a worthy insurance plan, you’ve probably learned that just about every state in the U.S. requires some form of car insurance. What is the most popular form of car insurance? Liability car insurance. Not only is liability coverage the most required form of insurance in the United States, it’s also the most affordable. Because liability car insurance covers only the financial costs of the driver you collided with (again, if you are found to be the one responsible for the crash) you pay a smaller premium than if you had a package like comprehensive or collision coverage, where your insurer would pay for the damages of both you and the other driver.
When you have been found at fault in a traffic collision, your auto liability insurance covers the financial costs to the other driver involved in the accident. This form of coverage also protects you from suffering financial loss, in that it safeguards your assets and keeps you from getting sued by the other motorist involved in the accident you caused. Liability insurance takes two forms. These forms include:
Bodily Injury Liability (BIL): Covers the medical costs associated with injuries as a direct result of the crash for the driver not at fault. Examples of types of financial coverage include:
Property Damage Liability (PDL): Covers the property and repair costs to the driver not at fault after an accident has occurred. Examples of types of financial coverage include:
To think of it in a more simplified way, look at the coverage types like this: BIL coverage takes care of people, and PDL takes care of property.
Average Cost of Car Accident
The damage to your vehicle and person in an auto collision quickly adds up in dollars. In 2013, there were a reported 2.31 million injuries as a result of a traffic accident, with the average bodily injury liability claim totaling $15,443, as found by the Rocky Mountain Insurance Information Association (RMIIA). The average property damage liability claim came to $3,231. With liability car insurance, these costs are paid for by your insurance company. With an auto liability insurance plan that on average (according to the Department of Motor Vehicles) covers $15,000 for one injury per accident, $30,000 for injuries to multiple people per accident and $20,000 for property damage, you’ll be saving money.
When getting an auto insurance policy, you want it to be one that’ll go the extra mile. Find your coverage today at CoverHound.