While purchasing the best yet cheap liability auto insurance policy, one of the most significant things is to get quotes from several insurance corporations. We have discovered that the worth for a cheap liability auto insurance policy doesn’t have a steady relationship with those of full-featured plans cost. Before knowing how to find cheap liability auto insurance plans let’s know what liability auto insurance is and how it works.
Table of Contents
- 1. What Is Liability Auto Insurance?
- 2. What the Cheap Liability Auto Insurance Policy?
- 3. Property Damage (PD) Liability Auto Insurance Coverage
- 4. Bodily Injury (BI) Liability Auto Insurance Coverage
- 5. How Much Cheaper is Liability-Only Coverage?
- 6. What Is Not Covered Under The Cheap Liability Auto Insurance?
- 7. Conclusion:
What Is Liability Auto Insurance?
To be precise, liability auto insurance policy is referred to buying only liability coverage for your car instead of buying a comprehensive one. So the liability coverage such a plan that just pays for the expenses associated with the car damage and medical care to the third party in case your car met with an accident.
In fact, liability auto insurance coverage is an additional way to define the legal minimum sum of auto insurance policy you can purchase in order to run your car legally on road.
Liability auto insurance is financial security for a car driver who, while driving the vehicle if hits someone else or someone else’ property.
What the Cheap Liability Auto Insurance Policy?
The liability auto insurance policy helps to cover another individual’s property damage and medical expenses via two kinds of coverage plans. These two cheap liability auto insurance coverage types are as follow:
Property Damage (PD) Liability Auto Insurance Coverage
In case your car met with an accident and as a result, it invited damages to some other person’s property then the Property Damage (PD) liability insurance covers recompenses for the repairs that you are legally liable for the car accident, up to the coverage limit.
Bodily Injury (BI) Liability Auto Insurance Coverage
In case your car met with an accident and as a result, it invited injuries to some other person, then that Bodily Injury (BI) liability cover protects you by compensating for the damages that you are legally liable for the car accident.
This consists of paying for the injured person’s loss of income and medical bills, up to the coverage limit.
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How Much Cheaper is Liability-Only Coverage?
Liability auto insurance is knowingly cheaper than full-coverage auto insurance policies. The premium for your insurance could be decreased by more than half if you drop optional coverage plan. Liability auto insurance plan makes up to 48% of the entire cost of comprehensive coverage policy, with a mass difference in expense being funded by the collision coverage plan.
Comprehensive auto insurance coverage generally consists of liability protection, comprehensive coverage, collision coverage, and other coverage that are required by the law, like personal injury protection.
But the liability auto insurance only covers the third party’s injury, damages, and third party’s property losses. Consequently, the liability auto insurance plan is way cheaper than the comprehensive and collision coverage insurance plans.
If you buy only the liability auto insurance coverage, then the insurance won’t pay for the damages to the vehicle in the following situations:
- In case your vehicle is damaged because of hail, bad weather, or by animals.
- If you’re guilty in an event of an accident
- In case your vehicle is vandalized or keyed
- If you’re the victim of a hit & run
What Is Not Covered Under The Cheap Liability Auto Insurance?
Cheap Liability Auto Insurance coverage typically does not pay for the damages to your private vehicle after an accident take place
The cheap liability auto insurance coverage also doesn’t extend to the expenses related to your personal injuries after the accident your car cause.
In case you want such coverage, you will have to consider adding the medical payments coverage with your cheap liability auto insurance plan. However, if you add some extra coverage with your cheap liability auto insurance then it won’t be cheap anymore. With added features, you will have to pay more premiums.
So, to get cheap liability auto insurance you will have to take up the basic liability auto insurance without any added features to it.