What Having Only Liability Auto Insurance Means For You
Car insurance comes in a large variety of packages and options for people to choose from. Each different type of policy has benefits that cover different areas. Online auto insurance is a more recent development that has become very popular among some buyers because it is easy to use and makes finding quotes from different companies simpler. Most car insurance policies have liability insurance included in the package, and it is possible to get liability only insurance coverage. This type of coverage is also the type that is required in most states at certain levels to legally drive. It is important to understand what it means to only have this type of car insurance if you choose to use it.
Liability coverage is the cheapest to have on your car because it covers only very specific things in the event of an accident. One important thing to keep in mind about liability coverage is that it is the cheapest way to stay legal on the road. Insurance companies offer this type of coverage at the state minimum level to help drivers save money on their bill. Many drivers look for the cheapest coverage because they feel as if they will not be the cause of an accident while driving. When drivers are involved in accidents, the driver that is responsible for the collision is held financially liable for the damages to both vehicles.
Liability insurance covers the damages to the other person's car as well as property damage and medical expenses up to certain amounts that are determined by the policyholder. The insurance will not cover damage to your car if you are found to be responsible. The damages to your car and your medical bills will be up to you to cover. That is very important to keep in mind for drivers that do not wish to have extensive or comprehensive coverage. Only liability coverage keeps you from being held personally responsible for the legal and financial ramifications of an accident.
Drivers that look for a new insurance policy can look at online auto insurance to see a full list of details on the policy. Liability coverage has caps on the amount of money the company will pay on behalf of the driver that will cover the cost of the damages in most accidents. Drivers can search multiple insurance companies online at the same time to see who offers the best price for coverage. Liability insurance provides the basic level of coverage that drivers need but will fall short in events such as hit and runs and accidents where the driver at fault has no insurance. Consult your insurance agent about the proper levels of coverage before deciding.