In the world of car insurance, the word ‘liability’ is linked with fault and responsibility. Your liability coverage will protect you if an event occurs that puts you in the position of having to fulfill a legal responsibility. The legal responsibility is usual financial.
Most state auto insurance laws require that a driver maintain at least liability insurance on their vehicle. Liability coverage protects you against costs associated with the damage and injury of another in an auto accident.
Liability policies have two parts: property damage liability and bodily injury liability. Liability insurance is cheaper than full coverage insurance because it only covers costs associated with an accident. Usually, the policy is expressed as three numbers; for example, 50/100/25. This means that insurance will pay for the bodily injury of an individual up to $50,000, will pay for the bodily injury costs on everyone in a vehicle up to $100,000, and will pay property damage costs up to $25,000.
Liability insurance protects you from lawsuits that may come your way as a result of an accident that was deemed to be your fault. To learn more about your Oregon auto insurance options, visit www.acclaimautoins.com.
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