Liability Auto Insurance in Cincinnati 0
Posted by: WIN Admin on Nov 06, 2012
Auto Insurance Cincinnati- Liability Insurance Coverage.
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Auto Liability Insurance Basics
Liability insurance pays for damage that you may cause to other person’s property, or injuries that you become legally liable due to a covered accident. Liability insurance can also provide coverage for prejudgment interest and defense costs. Punitive damages may be excluded from your automobile insurance policy.
You do not want to assume that Auto Insurance in Cincinnati works exactly the same as it might work in Michigan. Laws for liability insurance may differ dramatically between states. Keep that in mind as you’re shopping for auto insurance rates in Ohio.
Claim Example:
It’s a Tuesday afternoon the sun is shining, the temperature is a balmy 82° and your top is down on your BMW 325i convertible as you and your best friend Donovan are meandering down state Route 5 enjoying the scenery with lively conversation between two close friends.
A Toyota minivan stops suddenly in front of you as you were momentarily distracted by an off-color joke that Donovan shared with you. You slam on your brakes, but it’s too late as you impact with the minivan. There are no injuries, but it looks like you need a new front bumper and so does the minivan.
Example of How Coverage May Apply:
The property damage section of your liability coverage will pay for the damages to the bumper of the minivan up to your available policy limits. Let’s assume that your current automobile liability insurance limits are $25,000 per person and $50,000 per occurrence for injuries, and $10,000 in property damage limits.
The damage to the Toyota minivan comes to $4,713 in property damage. Your insurance company will pay the $4,713 because you have room to spare on your $10,000 limit.
What happens when my policy doesn’t cover all of the damage?
If you are found legally responsible for the accident anything that your policy doesn’t cover, you would personally be responsible for in the state of Ohio. That’s why it’s necessary for you to pick the right amount of coverage for your circumstances. If you have substantial assets you should have substantial coverage!
