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Auto Insurance Limit
An auto insurance limit refers to the maximum amount of liability coverage (the insurance coverage that covers other people involved in an accident) your insurance company will provide.
Most states have a minimum liability insurance requirements, but this minimum coverage is often not enough. For instance, the state of Florida requires $30,000 injury liability coverage and only $10,000 property damage liability coverage, but this will cover only a fraction of medical and repair expenses accrued in a serious - or even fatal - automobile accident.
For this reason, many people choose to purchase significantly more liability insurance than the minimum required.
Purchasing Higher Car Insurance Limits
Auto insurance limits vary by company, but the majority of policies have a limit of $300,000 to $500,000 per accident. The higher the amount of liability coverage you have, the higher your premium will be; however, you will also be better protected if involved in an accident where persons are severely injured or killed, or another person’s property is significantly damaged.
Of course, if the premium seems too high, you can always shop around and compare insurance quotes from other carriers. You might be able to get a lower rate even if you are increasing the amount of liability coverage.
Understanding Umbrella Policies
If you have more than $100,000 in assets, consider purchasing an umbrella policy. The function of an umbrella policy is to cover all expenses not covered by your preexisting insurance policy.
For example, if you are involved in accident that results in $500,000 in medical bills, but your standard policy only covers $100,000, an umbrella policy will cover the remaining $400,000. An umbrella policy might be less expensive than simply purchasing more liability insurance, but many companies require you to purchase a certain amount of coverage prior to becoming eligible for an umbrella policy.
Hiring an Auto Insurance Attorney
Avoiding a lawsuit is the primary reason for purchasing additional liability insurance. If you are currently facing a lawsuit for personal injury or property damage expenses, you can locate an auto insurance attorney online.
In This Section
Other Topics in This Section
- Auto Insurance Deductible
Online Auto Insurance Deductible Info. Learn How A Car Insurance Deductible Works If You Are Involved In An Auto Accident With Damages To Be Covered By Your Insurance Company.
- Auto Insurance Premium
Get Auto Insurance Premium Info Online. Learn How A Car Insurance Company Determines Insurance Premiums. Also Find Out More On Payment Options And The Benefits Of Paying In Full.
- Auto Insurance Quote
Online Auto Insurance Quote Info. Find Out Why Quotes And Insurance Premium Amounts Could Differ. Learn More On Comparing Car Insurance Quotes For A Competitive Insurance Rate.
- Auto Insurance Rates
Learn How A Car Insurance Company Determines An Auto Insurance Rate. Auto Insurance Rates Vary; Gather Multiple Insurance Quotes Online To Get A Competitive Insurance Rate.
- Motor Vehicle Report
Learn More About A Motor Vehicle Report. Find Out Why You Might Need One, Where To Obtain One And How It Compares To A Motor Vehicle Record, Driving Record And Driver History Report.
- Proof Of Financial Responsibility
Info On Auto Insurance And Proof Of Financial Responsibility. Some States That Don't Require Liability Insurance Require Drivers To Offer Proof They Can Pay In The Case Of A Car Accident.
- Auto Insurance Endorsement
Find Auto Insurance Endorsement Info. Our Online Guide Covers Details On Modifying A Car Insurance Policy And Insurance Coverage With Endorsements.
- Auto Insurance Exclusion
Get Auto Insurance Exclusion Details. Look Online For Info On Car Insurance Policy Exclusions And Cases Where An Insurance Company Makes Provisions To Eliminate Insurance Coverage.
- Auto Insurance Code
Guide To Auto Insurance Code Info. Get Online Details On Car Insurance Codes And How Auto Insurance Companies Determine Insurance Rates. Also Learn More On Insurance Premiums.
- Auto Insurance Discounts
Guide To Auto Insurance Discounts. Lower Your Car Insurance Rates With Discounts For Good Drivers, Safety Courses, Bundling Insurance Policies, Auto Insurance Renewal And More.
- Auto Insurance Glossary
Online Auto Insurance Glossary. Learn More On Car Insurance Terms. Our Glossary Of Insurance Terms Covers Types Of Auto Coverage, Insurance Policy Info And More.
- How To Obtain Proof Of Insurance
Learn How To Obtain Proof Of Insurance. Our Auto Insurance Guide Covers Buying A Car Insurance Policy And Getting Competitive Insurance Rates.
- How To Change Auto Insurance Providers
Tips On How To Change Auto Insurance Providers. Learn More On Working With Car Insurance Companies To Change Your Insurance Policy And Get Competitive Insurance Rates.
- Factors That Affect Insurance Rates
More On The Factors That Affect Car Insurance Rates. Learn How Gender, Age, Location, Auto Claims, Driving Record Points And More Affect Auto Insurance Rates.
- How To Cancel An Auto Insurance Policy
Steps On How To Cancel An Auto Insurance Policy. Look Online For Info On Car Insurance Policies, Insurance Rates And Handling An Auto Insurance Cancellation.
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Motorcycle Insurance
- Motorcycle Insurance Minimum Requirements
- Types Of Motorcycle Coverage
- Accessory Coverage For Motorcycles
- Comprehensive Physical Damage Insurance For Motorcycles
- Collision Insurance For Motorcycles
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- Uninsured Motorist Coverage For Motorcyclists
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- Motorcycle Roadside Assistance
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Auto Insurance Policy Basics
- Auto Insurance Deductible
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Insurance Claims
- When An Accident Happens
- Accident Loss
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- Proof of Loss
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- Types of Insurance Claims
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- About Car Insurance Claims
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- Personal Injury Attorney Fees
- How To Choose Personal Injury Lawyers
- Benefits of Hiring A Personal Injury Attorney
- What To Submit To A Personal Injury Attorney
- Processing Car Insurance Claims
- How Car Insurance Companies Handle Claims
- How Car Insurance Companies Investigate Accident Claims
- How To Document Auto Accident Damage
- When To Report An Auto Accident To The DMV
- Tips On Documenting Personal Injury Expenses
- Paying Medical Bills Before Receiving Personal Injury Compensation
- Wage Loss In Personal Injury Auto Accident Cases
- How To File A Loss Of Wages Auto Claim
- Stages Of A Personal Injury Case
- Filing Car Insurance Claims
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