Amount Of Liability Coverage

Homeowners insurance personal liability coverage limits range from 100 000 to 300 000.

Amount of liability coverage. 25 000 bodily injury liability per person 50 000 bodily injury liability per accident 10 000 property damage liability per accident 50 000 uninsured underinsured motorist coverage per person. To determine coverage amounts deductibles and limits add up your net worth and the value of your assets. Before most insurers will sell you an umbrella insurance policy you must buy your homeowners or auto policy from them and carry a minimum amount of liability coverage typically 300 000 on your. Bodily injury liability is a type of coverage that s generally a required by most states.

If you re at fault in a car accident that injures someone bodily injury liability coverage pays for their medical expenses and lost wages that are a result of their injuries. The first two numbers refer to bodily injury liability limits and the third number refers to the property damage liability limit. The first two numbers in 25 50 20 mean that in an accident each person injured would receive a maximum of up to 25 000 with a maximum limit of 50 000 per accident. Liability insurance also called third party insurance is a part of the general insurance system of risk financing to protect the purchaser the insured from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.