Liability Insurance Auto: Protect Yourself and Your Assets

What is Liability Insurance for Autos?

Liability insurance is an essential part of responsible driving. It protects you from financial risk if you cause an accident and injure another person or damage their property. Auto liability insurance covers:

• Bodily injury to others
• Property damage to others

Why Liability Insurance Auto Matters

According to the National Highway Traffic Safety Administration (NHTSA), in 2020, over 5.6 million car accidents occurred in the United States. Of those accidents, over 39,000 resulted in fatalities, while over 4.5 million caused injuries.

Without liability insurance, you could be personally responsible for paying for any damages or injuries caused by an accident, which could amount to hundreds of thousands of dollars or more.

Benefits of Liability Insurance Auto

• Peace of mind: Knowing that you are protected financially if you cause an accident gives you peace of mind.
• Financial protection: Liability insurance covers the costs of damages and injuries caused by an accident, up to the policy limits.
• Legal defense: If you are sued after an accident, liability insurance provides legal representation and coverage for court costs.

Types of Liability Insurance Coverage

• Bodily injury liability coverage: This coverage pays for medical expenses, pain and suffering, and lost wages for people injured in an accident caused by you.
• Property damage liability coverage: This coverage pays for damages to vehicles, buildings, and other property caused by an accident caused by you.

How Much Liability Insurance Auto Coverage Do You Need?

The amount of liability coverage you need depends on various factors, including:

• The value of your assets
• The number of vehicles you own
• The frequency of your driving
• The number of people in your household

Most states require drivers to carry a minimum amount of liability coverage. However, it is recommended to purchase higher limits to ensure adequate protection.

Tips and Tricks for Liability Insurance Auto

• Compare quotes from multiple insurance companies: Don't settle for the first quote you receive. Shop around to find the best coverage at the most affordable price.
• Raise your deductible: Increasing your deductible can lower your premiums. However, ensure you can afford to pay the deductible if you need to file a claim.
• Bundle your insurance: Combining auto liability insurance with other types of insurance, such as homeowner's or renter's insurance, can often save you money.

New Applications: Insure-A-Ride

Insure-A-Ride is an innovative new application that allows you to purchase liability insurance for your car by the day or hour. This is ideal for:

• Occasional drivers
• Renters who share a vehicle
• Parents with teenage drivers

Tables

Table 1: Minimum Required Liability Coverage by State

Table 2: Average Cost of Liability Insurance Coverage

Table 3: Factors Influencing Liability Insurance Premiums

Table 4: Tips for Saving Money on Liability Insurance