Vehicle liability insurance has two components which make up the core of your vehicle insurance coverage. These two components; bodily injury coverage property damage coverage are always included together.
This basic insurance coverage covers injuries to other people or damages to their property if you are at fault in an accident.
Liability insurance coverage should be carried by any person driving a vehicle and is required by law in all states except New Hampshire where there are no mandatory car insurance laws. Truckers for-hire, must carry vehicle liability coverage to obtain a license. Each state has different required minimums. It is important for you to know your state’s minimum requirements to ensure you are carrying the correct amounts.
Gordon’s Insurance Agency knows the state minimums. We will ensure you meet your state’s minimum requirement on vehicle liability insurance coverage. In Florida, the minimum state’s requirement is $10,000 for bodily injury coverage and $10,000 for property damage coverage. Keep in mind that these state minimums will be unlikely enough to cover the majority of injuries and damage.
All vehicles you own must have both bodily injury and property damage coverage and all must be in the same amounts.
General liability insurance coverage protects you against being liable for injuries or accidents that happen either in your home; such as someone slipping in your driveway or in someone else’s home; such as you breaking a statue belonging to the homeowner.
If you cause an accident, the bodily injury portion of your liability insurance will cover the cost of all medical bills, rehabilitation, long-term care, lost earnings, pain and suffering, and even funeral expenses up to the limits you have selected.
If you cause an accident, the property damage portion of your liability insurance will pay to repair damages to another person’s vehicle, lamp posts, house, and even their pet up to the limits you selected.
If you are sued due to causing an accident, liability insurance will pay for the cost of your legal defense.
When shopping for liability insurance, it is important to know that you will be required to select limits. These limits will determine the maximum amount your insurance company will pay if you need coverage.
Split Limits: What the numbers mean. In this scenario, we will use 10/20/10 as required in the state of Florida and assume you are the cause of the accident;
A combined limit means there is a grand total maximum that an insurance company will pay for all injuries and property damage that result from a single accident you were the cause of.