Auto liability insurance is required by law in most states. It is a two-fold plan that covers bodily injury and property damage. Though these are separate, they are both legally required. Liability insurance covers property damage and injuries if the driver is at fault. How does liability insurance work? What does liability coverage pay for in St. Louis and beyond? Let’s take a closer look at the auto liability insurance definitions below. Learn more about gap insurance or extended warranty with our car financing hub.
What does liability insurance cover? While bodily injury and property damage fall into your overall liability coverage, each can have its set limits. Even though the state sets minimum limits, you can set your limits based on your financial situation at the moment. It is essential to set proper limits on your liability coverage that align with how much you can offer.
What does liability coverage pay for? Liability insurance covers:
Bodily Injury
Property Damage
Remember, the critical factor is that this coverage mainly benefits the accident victim rather than the driver at fault.
Now that we’ve covered the auto liability insurance definitions, let’s discuss liability coverage limits. When setting up your plan with your St. Charles agent, you should discuss the coverage limits, which can be split or housed at a single limit. Here is the difference between the two options:
Purchasing a new or used vehicle means properly reviewing all available auto loan insurance definitions and options. However, these liability coverage limits can be hard to understand, so contact our finance center if you have any lingering questions. It is better to have clear answers to questions like: How Does Liability Insurance Work? before making a big financial decision. Visit one of our dealerships whenever you are in the Fenton area.
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