Cheap Liability Car Insurance Coverage - Full coverage auto insurance is an auto insurance policy that has liability, collision and comprehensive coverage. Here's a look at what the three types of coverage include.
Liability Insurance: Covers damages you cause to others, including property damage (dented cars, crushed boxes, etc.) and injuries Most states require car owners to purchase a certain minimum level of liability insurance.
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For example, have you ever heard of people bumping into each other in the grocery store? Their liability insurance would cover damages incurred at the store, up to the limits of the coverage they purchased.
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Collision Insurance: Covers damage to your car if you bump into something. For example, if you hit a door at lap K, this will cover dents and scratches on your car.
Comprehensive insurance: This covers theft of your car, vandalism, collisions with animals such as deer, weather damage such as hail, flood damage, fire and problems such as falling trees.
On average, it costs $1,684 to insure a car with full coverage. The cheapest states for premiums are Maine, Idaho and South Dakota. Drivers in Louisiana, Washington and New York pay the most.
Source: , from premiums reported by users from January 1, 2017 to December 31, 2018. Users have liability limits of 100/300/50 ($100,000 bodily injury per person, $300,000 bodily injury per accident, $50 damage to property) and 00 uninsured motorist limits of 100/300 ($100,000 per person, $300,000 per accident). Prices are for one driver with one vehicle and no accidents or violations. Your own rates will be different.
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Confused like the kids in the video? Looking for an easy-to-understand definition of liability insurance? For starters, here's one way to think about liability insurance: According to Merriam-Webster, the word "liability" means
When we talk about car liability insurance, a similar meaning applies. Liability car insurance offers you financial protection if you are found liable (legally liable) for property damage or injuries to another person in an accident.
If you cause an accident in which someone (or multiple people) are injured and/or damage their vehicle or property, liability car insurance will help cover the costs. Let's break it down a little more.
Shopping For Auto Insurance: What To Know Before You Buy A Policy
Auto liability insurance isn't just one type of coverage. Drivers in most states must carry two forms of auto liability, both of which can come into play after an accident you cause.
. You're approaching a four-way stop, but you don't brake in time and pull the car in front of you.
Fortunately, no one was seriously injured. But the van needs repairs, and the driver needs a strep throat machine. Can you guess who will be responsible for paying for the damaged vehicle and minor injuries? Yes, that's you. You didn't mean for it to happen, but the accident is your fault because you weren't paying attention. You will be responsible for property damage and personal injuries caused by the accident. Without insurance, you would likely pay for medical expenses and damages out of pocket, and you don't want to because a car accident costs a lot more than most people think. But with liability coverage, your insurer would pay for the other driver's doctor's visit (bodily injury liability) and the repair or replacement of the other driver's vehicle (property damage liability).
The same applies if someone else causes an accident that damages your car and injures you. They will be responsible for any damage, and their auto liability insurance should help them pay for it.
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Simply put, maintaining a minimum amount of car insurance is the law almost everywhere in the US. . And because an insurance policy is one of the easiest ways to prove financial responsibility, 48 states require drivers to carry auto coverage (some states also require no-fault/personal injury coverage and/or uninsured motorist coverage) in a certain amount. That's because liability insurance is designed to protect
Liability insurance laws vary from state to state, so it depends on where you live. The required amounts for bodily injury liability coverage and property damage liability coverage are often referred to as "minimum limits." Your coverage "limits" are the maximum amounts your insurance company will pay, so the "minimum limits" set by your state are the minimum amounts of coverage you must carry. Liability-only car insurance, along with any other coverage required by your state, will keep you road legal.
Auto liability coverage limits are usually written as three numbers that represent coverage limits for bodily injury per person, bodily injury per incident, and property damage. These numbers represent the minimum amount of coverage you must have to be road legal.
If you are a resident of Tennessee and carry less than these amounts, you do not meet the state's minimum coverage requirements. And if you caused an accident, you'd be stuck paying out-of-pocket for the other party's injuries, property damage and lost wages, as well as your own legal fees if you're sued. Even if you don't cause an accident, you may still be subject to fines and other penalties if you're caught driving without liability insurance.
How To Choose The Right, Cheap Car Insurance For Your Budget
Look up auto insurance laws by state in our study center to find coverage requirements where you live. Or visit your state's Department of Motor Vehicles website to make sure you're in compliance.
Still have questions about car liability insurance? We'd love to chat! Call us or stop by our nearest location. Our friendly agents can help you learn more about the coverage you need and get a free quote. Liability-only auto insurance provides only the minimum coverage required by your state, making it the cheapest type of auto insurance. This is a good option for drivers who have an older car or who can afford to repair or replace their car.
State Farm has the cheapest liability-only insurance among the major auto insurance companies, with a monthly quote of just $41. That's 33% cheaper than the average rate of $55.
USAA is by far the least expensive liability-only coverage company for current or former military members who qualify, with rates averaging just $31 per month.
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Local car insurance companies are often cheaper than national brands, and some big names like Travelers and Allstate can be quite expensive on average. The cheapest liability insurance for you can change based on factors such as accident history, credit score and location.
We've collected thousands of quotes from every zip code in every state to find the cheapest car insurance companies with minimum coverage. Minimum liability policies include only the required coverage for the state.
When comparing the cheapest liability-only car insurance companies, the best way to get affordable rates is to get quotes from multiple insurance companies for the exact coverage you need.
In other words, just because an insurance company has the best deals on a full coverage auto insurance policy doesn't mean they'll also offer you the lowest rate on a liability-only policy.
Shop Car Insurance: Compare Rates Online
Auto liability insurance costs an average of 62% less than full coverage. Liability-only auto insurance is significantly less expensive than full coverage insurance because it does not include collision and comprehensive coverage.
Dropping collision and comprehensive coverage saves money on your car insurance bill, but puts you at greater financial risk because you may have to pay to repair your own car after a collision. If you opt for liability-only coverage, the insurance won't pay for damage to your vehicle if:
The cost of auto insurance varies depending on where you live. This is partly due to differences in risk and different insurance laws in each state.
South Dakota has the cheapest rate for minimum coverage in the country, averaging $28 per month. Michigan's average rate of $196 per month is the most expensive.
What Is The Cheapest Insurance For Leased Cars?
Liability-only coverage is usually a good idea for cars 8 and 12 years old or older and valued at $5,000 and $10,000 or less.
Full coverage car insurance is a better deal when your car is new. When your car is new, it's worth more, so insurance companies will spend more money fixing it before declaring it totaled. As your car ages, you'll pay more in premiums for collision and comprehensive coverage than you might get after a claim.
If the actual cash value of the new car is $20,000, your insurance company will pay you no more than $20,000 to fix it. However, as your car ages, it loses value, so the maximum payout from a collision claim decreases.
If your car's ACV is $5,000, this is the maximum amount your insurer will pay if your car is damaged or stolen.
How Much Car Insurance Do I Need?
While the value of a car depreciates by about 13% each year you own it,
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