Bodily Injury
There are 2 numbers associated with this coverage; Each Person and Each Accident; commonly listed together in thousands. ex. 50/100. In this case the Insurance Company will pay up to $50,000 for each person and up to $100,000 for each Accident. This coverage is for accidents that are your Fault and is paid to other parties, not yourself or your passengers.
Property Damage
This is the amount the Insuring Company will pay to other parties for Property Damage. This coverage is commonly listed in Thousands as well.
Important Note
It is important to note that the coverage’s are Limits of Liability. You are personally responsible for claim amounts above your policy Limits. Ex. If you cause an accident that results in $48,000 in Property Damage and you have the State Minimum Liability Limits (25/50 Bodily Injury & 25 Property Damage) The Result would be as Follows:
$48,000 Total Property Damage Claim
-$25,000 Paid by Insuring Company
=$23,000 for which you are personally liable.
Uninsured Motorist
UM/UIM is a coverage that provides coverage for you and your auto in the event you are hit by another party that either does not have insurance or does not have enough insurance. Coverage limits for this coverage work the same as they do for BI/PD.
Personal Injury Protection
PIP is a coverage that provides coverage for your Personal Bodily injury and lost wages. This coverage can be paid regardless of who caused the accident.
Comprehensive Deductible
This deductible is the portion of the claim that you would be responsible for if the claim is caused by things that are not your fault like weather, vandalism, or theft.
Collision Deductible
This deductible is the portion of a claim that you would be responsible for to fix your vehicle if the claim was your fault. |
