Does Liability Insurance Cover my Own Car?

Every motorist has different coverage requirements and expectations. You may be buying auto insurance just to comply with the state laws. Then Liability coverage may be enough. But you need to manage expectations, as policies with only state minimum limits are very basic. They don’t include many things and may not even provide sufficient defence against third party claims.

Their provisions are kept as low as possible so that their prices are cheap for most motorists to afford. The idea is to get every vehicle insured which would offer a certain degree of compensation for unsuspecting road users and property owners if they ever suffer from any automobile accident-related injuries and property damages.

So, it provides protection for other people. In other words, it helps you compensate for the damages and harms you or any permitted driver cause to other people. They include two types of protection for others. Bodily Injury Liability pays for injuries you cause to third parties and Property Damage pays for damages to others’ vehicles and property.

Usually, basic state-enforced vehicle insurance coverage comes with lowest limits that may not be enough to compensate the whole of the damages. In such cases, third parties may sue the person who caused the accident or the vehicle owner. However, quite a few companies choose to offer these with larger provisions.

Liability car insurance doesn’t offer any protection for the policyholder’s car or medical bills (except in no-fault states where the minimum comes with Personal Injury Protection). In other words, the basic policy you bought to be able to drive legally doesn’t cover your own car.

It doesn’t matter what happened to it. It may be stolen, flooded, burnt in fire, vandalized, ruined in a storm or had an accident. The insurer will not be interested at all if you don’t have Collision and Comprehensive covers for it. If you have an expensive automobile this may be such a high risk to take.

If you want to protect your own vehicle you will need to buy full coverage auto insurance, which includes a decent level of Liability limits as well as Collision and Comprehensive coverage for your vehicle. You can check the difference between liability and full coverage policies in that post. Keep in mind that the price gap can be tight as well that you might as well go for the better one.

Not being attentive when you are insuring your automobile can be costly when you have an accident or something happens to it. This isn’t one of the most exciting subjects but not hard to figure out either. They won’t pay a dime if you don’t have the coverage for the damages you suffer. It is as simple as that.

Some people may have limited funds to spare for insurance. Then, they may be looking for the cheapest policy they can get. This may solve the immediate problem of getting a proof to show if they ever get stopped. However, it may put you in a difficult position when something happens to your automobile like an accident. It is only a good idea to buy a third party only policy if you can pay for repairs or cope with the total loss of your vehicle. Some people own really old automobiles and they don’t care if it gets damaged or totaled.

If you look for the best deals you may be able to afford what you need. For example, buying the minimum vehicle insurance from an expensive source can cost you more money than cheaper carriers may charge for a full policy. So, take the time and find the lowest rates by getting several quotes. Our quote form can help you locate those deals. So, stay a little longer and leave with a pleasant surprise.