I find many people are not sure how much liability coverage they should have or worse yet even how it works. The standard has been $100,000 per person, capped at $300,000 per accident which covers that amount for medical bills if you hit someone and it is your fault. So if there is one person in the car there would be $100,000 of coverage up to $300,00 for three or more. In the standard coverage there is also $100,000 of property damage. This covers any property that is damaged that is your fault including vehicles, fences, lights posts, etc.
But now with rising medical costs I would recommend people get medical liability coverage of $250,000 per person and $500,000 per accident. It typically costs only about $10 more a month and would increase your coverage by quite a bit. What people don’t realize is that if you get in an accident and it’s your fault, and the insurance money is exhausted they can come after you and even garnish your wages to recover the money that is owed.
It’s very important that we have the right coverage to protect our salary and assets.
If you have any questions about this or any other insurance issues, please email me at firstname.lastname@example.org