IT’S BEST IF ONE IS INSURED: LIABILITY INSURANCE

It has always been a wonderful feeling to have owned a brand new car. That nice feeling that uplifts your mood and eventually  boosts one’s confidence. Likewise, it motivates you to do more and be productive there can be seen a product of your labor. Moreover, automobiles can also be an accessory which you flaunt. Practically speaking, it is a possession that can give you convenience for faster transportation in going to work, to school, or a romantic date.

A driver finds hard to imagine to get involved in a vehicular accident. What if on that particular incident, huge damage to property and has injured some other people? One will be automatically held liable for the damages that had happened should it be proven that the damages are unintentional. The looming question would be: do you have insurance? Do you and your possession have insurance protection?

A law requires car owners to have an insurance coverage in case of an accident for most of the states in the US. This type of insurance coverage is auto liability insurance. It has some policies that cover injury to other people and property in the event of accidents.

But, what is a liability insurance?

Third-party insurance is the other term for liability insurance. In other words, it gives protection against claims resulting from injuries and damage to people and/or property. If for any reason that the insured party will be held liable, liability insurance pay for the legal and hospital costs. Certainly, it covers the costs in the event of an accident. However, the policy doesn’t include intentional damage and criminal prosecution. Thus, the policies protect and cover injuries due to the holder’s unintentional negligence. The policies help pay for the repair of a property and medical bills.

Types of auto liability coverage

There are two forms of  auto liability coverage. Bodily injury liability coverage and property damage liability coverage are the two forms of auto liability coverage. Most states’ drivers and vehicle owners acquire both types of coverage.

So, bodily injury liability (BI) coverage can help you avoid paying for medical expenses. On the other hand, property damage liability (PD) coverage prevents one from paying to have the damaged property repaired.

What are the limitations?

There are types of liability coverage for a particular incident. Moreover, there are some limitations as well. That is to say, the policyholder sets an amount limit for his/her property damage liability. In which maximum amount for a payout will not exceed its limit. Bodily injury liability has two limitations: per person or accident. There is an established maximum amount of a BI per person limit towards an injured person. The insurance provider caps its amount stated in BI per accident limit. There is a cap on the total amount that will be paid for all medical expenses of the person involved in an accident. The coverage limits depend on the packages the insurance company offers and merit a consideration.

At Onyx Insurance Brokers, we help you find the best liability coverage. We have liability coverage that suits your needs and within your budget. We offer a variety of options that you can choose according to your preferences. Our insurance brokers and agents are happy to accommodate you with your auto insurance queries.