How Much is Liability Insurance?

How much does liability insurance cost? In most cases, your liability insurance policy cost will fluctuate based on what policy you depend on the policy you choose. If you would like to know more about your insurance coverage options, do not hesitate to reach out to the finance team at Don Franklin Auto. In the meantime, read on to learn more about liability insurance rates, what’s covered under liability insurance, and more. Check out more converge options you can find your next ride when you see our breakdown of gap insurance coverage.

Liability Insurance Costs Broken Down

If you are looking to go above and beyond what is typically required by the state, a popular option is the 100/300/50 limits. With this coverage, the insurer will pay up to $100,000 for injuries per person, $300,000 for injuries per accident, and $50,000 for property damage per accident.

On average, the cost for this type of coverage ranges from $46 a month to $80 a month, depending. Keep in mind that this will vary depending on the amount of coverage you want as well as the state you live in.

What is Liability Insurance and What Does it Cover?

If you are the party responsible for a collision, liability insurance pays the other driver for any injuries or damage as a result of the collision. What is covered by liability insurance? Under this umbrella, there are two types of coverage: Bodily Injury Liability and Property Damage Liability.

• Bodily Injury Liability – If the other driver involved suffers bodily injury, this coverage helps to take care of the other party’s medical bills, pain, and suffering, etc. If the other driver filed a lawsuit against you, this coverage also helps with your defense and court costs.
• Property Damage Liability – If the other driver has property damage as a result of the collision, it will be covered.

How Much Coverage Should You Have?

The legal amount you’re required to have varies by state. If you are willing to pay a higher premium, you can have added peace of mind by being better off if a collision occurs. A car accident that you cause can be very costly, so it is often a smart choice to see how much additional coverage you can afford.

Learn More About Insurance Coverage with Don Franklin Auto

If you have additional questions regarding liability insurance rates, the experts at Don Franklin Auto would be glad to assist you. Contact us today or stop by one of our locations in person. We can also answer other questions like, “Is gap insurance worth it?” are extended warranties worth it and “Can I lease a car with bad credit?”