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How Much Bodily Injury Liability Auto Insurance Coverage Do I Need

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The question of how much bodily injury auto insurance coverage you need is a very common one. In states with this type of coverage is required, drivers must have at least a minimum level of protection in place by law. The issue with buying a policy with only the minimum level of required coverage is that it may not be sufficient to provide full protection for serious accident occurs.

The reason you buy liability auto insurance coverages to protect your assets. The more you own, the more liability protection you need to have in place. As a rule, you should plan to have liability coverage equal to the value of your assets plus your income for five years. This should provide a good level of protection if you’re involved in a serious accident.

Bodily Injury Liability Coverage Overview

Bodily injury liability insurance is put in place to pay for claims made by the occupants of the other vehicle following an asphalt accident. It pays for medical bills, rehabilitation expenses, and lost wages incurred as a result of the accident. In some states, accident victims to make a claim for pain and suffering, and this is also covered under the bodily injury liability portion of the policy.

Bodily Injury Liability Coverage and Claims for Damages

Your insurance company will pay out on the claims made by the other driver and his or her passengers. The insurer will pay out on these claims up to the policy limit you have in place. If the level of damages caused is higher than the amount available coverage, you will be personally responsible for paying the difference. Rather than run the risk of having to sell off assets to satisfy a claim or make payments for several years after the event, a much better choice is to buy liability coverage which provides an adequate level of protection in the first place.

How to Find Affordable Bodily Injury Liability Coverage

There are some ways you can find the bodily injury auto insurance coverage you need while keeping your costs down. One of the best things you can do to qualify for lower rates on your auto insurance protection is to maintain a clean driving record. Auto insurance providers are more likely to give their best rates to drivers who have been licensed for a number of years and who have not been involved in accidents or accumulated moving violations.

Shopping around and getting quotes from several auto insurance providers before making a buying decision is another effective strategy for consumers who want to keep their costs down. Each company sets its own rates for coverage based on how much risk they are prepared to assume on behalf of policyholders.

Reviewing existing coverage and getting quotes from several providers is something which drivers should do every year. Make a note on your calendar to start looking at options a couple of months before the current coverage term is due to expire to give yourself time to get rates and decide whether you want to change companies.

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