There are many types of insurance coverages designed to protect people’s property and to help pay the bills in the event of a casualty. In general, those insurance plans are called liability insurance and can come in several forms. We shall explain some of the most common, so people can make informed decisions when shopping for property and casualty insurance plans.
Everyone who owns a vehicle that travels on public roads in the United States must carry at least some level of liability insurance for their cars, trucks, vans, SUVs, and other vehicles. That insurance coverage is broken down into three levels. The first level is called bodily injury protection for an individual. And that means if the vehicle is involved in an accident that causes a physical injury to another person, the policy will pay the bills up to coverage limits.
Every state requires at least $10,000 in bodily injury protection to pay the bills for injuries to one person, but that amount frequently is much more considerable, maybe as high as $25,000 or $50,000 in some states. That type of protection is for the costs of medical bills, physical therapy, lost income when unable to work, and potential legal liability if sued in court, including court costs.
The second level of liability protection is for injuries to more than one person and usually is double the amount available for injuries to one person. So, if the state minimum amount allowed is $15,000 for injuries to an individual, that amount likely would be $30,000 for injuries to two or more people, up to policy limits. That means if two or more people suffer injuries and need medical treatment, those costs would be covered by the second level of protection and not the first. And if one person has just a minor injury requiring nothing more than cursory medical treatment, such as x-rays, a couple of doctor visits, and some medications, that will be deducted from the same amount that would be made available for others who suffered more significant injuries.
So, if one person has minor injuries and one or more people suffer significant injuries requiring hospitalisation and other costly treatments, the total amount could be exhausted quickly. And once the policy limits have been reached, the vehicle’s owner is liable for all remaining costs out of their own pocket. That is where it pays to have a suitable amount of liability coverage to protect against such potentially high costs, especially when owning plenty of assets that might be vulnerable to lawsuits and legal judgments. If you have been injured in an auto accident, especially for a truck accident, which is generally more complex than any other vehicle accident, get a representation from an expert truck accident lawyer to ensure that you are compensated accordingly as per the type of accident and injuries you suffered. Your lawyer will deal with your insurance company and will make sure that your financial losses are covered.
The final level of auto liability protection is for property damage, and often it is about the same amount as injuries to one person. So, if the state requires at least $15,000 in protection for potential costs for injuries to an individual, it often will need the same level of protection to pay for possible damage or destruction of other people’s property. Essentially, that is where a property and casualty insurance plan gets its name. Needless to say that you can get a first month free car insurance plan, it is best to assess the level of assets that might need to be protected versus potential liability costs. Some people do not have a lot of money or assets to protect, and they can file bankruptcy if hit with a large financial settlement. Others benefit significantly from higher coverage levels that ensure their homes, businesses, and other assets stay in their possession while paying the costs of inflicting injuries or causing property damage to others. Find great deals on auto liability insurance and save a bundle.
