Liability only car insurance is definitely a bad idea to consider for your young driver. The possibility of you being found at fault for causing an accident is simply not worth the couple of extra bucks in monthly insurance premiums you'll save on by choosing liability only. In most states liability only policies don't even save you that much money and are a poor investment in your teens driving future. So what's the reason?
Well the simple answer is this: minimum requirements only liability coverage won't cover your damages or injuries. Minimum requirements only liability coverage won't cover your medical bills if you get in an accident, will not pay for any damage to your property or medical expenses incurred as a result of an accident. So how does liability coverage work?
Every state has different minimum requirements for liability insurance. Some states require just bodily injury liability. Other states require bodily injury, comprehensive, and uninsured motorist coverage. And every state has a couple of other requirements that are often overlooked...like uninsured motorist. Yes, uninsured motorist coverage will pay your damages if you are in an accident with a driver who's not insured! But you have to have some proof that the driver is without insurance.
Now if you're like most people, you probably think "good deal" when you hear the word "liability". But the truth is that liability coverage is all about earning more money for the insurance company. It doesn't make any sense to purchase less coverage if the insurance company can just turn around and sue you hundreds or thousands of dollars you don't know about. So keep reading to learn what it really means to be found liable and be sure that you don't get hit with another driver's lawsuit when you are at fault.
When a person is found liable for a given incident, then that person is found to be "at fault". If you're found to be the person at fault in a given accident, then you are fully responsible for all of the victim's medical bills, pain and suffering, property damage (if there is more than one property damaged), and even death or permanent disability arising from the incident. This is usually what happens if the auto insurance coverage is liability only. But if the medical bills are covered, then you may have a case.
The problem is that you must show that the other driver was at fault in order to have a case. In order to do this, you need evidence. You need proof that the accident was caused wholly or in part by the insured's negligence. Even if the victim's insurance covers the cost of the accident, then it could still come into play if it can be shown that the insured was negligent in some way. It doesn't matter if the other driver sues the driver of the other vehicle, because liability only covers the other driver.
So how do you find the cheapest insurance rates? One way is to look online and compare different companies' rates. Look for coverage amounts that are the same or lower than others in your state. Also check to see if they cover liability only, or both car drivers' coverage. All of these factors can affect the amount you pay on a monthly premium.
Once you find a few liability-only coverage companies, ask them to provide you with a quote from their automobile insurance policy. Find out what level of liability coverage they offer. Then contact them. Tell them you found a quote from a competitor and they want your business, but they also want your opinion on which company to go with. Ask them about their policy, but steer clear of telling them the competitor's name.
Well the simple answer is this: minimum requirements only liability coverage won't cover your damages or injuries. Minimum requirements only liability coverage won't cover your medical bills if you get in an accident, will not pay for any damage to your property or medical expenses incurred as a result of an accident. So how does liability coverage work?
Every state has different minimum requirements for liability insurance. Some states require just bodily injury liability. Other states require bodily injury, comprehensive, and uninsured motorist coverage. And every state has a couple of other requirements that are often overlooked...like uninsured motorist. Yes, uninsured motorist coverage will pay your damages if you are in an accident with a driver who's not insured! But you have to have some proof that the driver is without insurance.
Now if you're like most people, you probably think "good deal" when you hear the word "liability". But the truth is that liability coverage is all about earning more money for the insurance company. It doesn't make any sense to purchase less coverage if the insurance company can just turn around and sue you hundreds or thousands of dollars you don't know about. So keep reading to learn what it really means to be found liable and be sure that you don't get hit with another driver's lawsuit when you are at fault.
When a person is found liable for a given incident, then that person is found to be "at fault". If you're found to be the person at fault in a given accident, then you are fully responsible for all of the victim's medical bills, pain and suffering, property damage (if there is more than one property damaged), and even death or permanent disability arising from the incident. This is usually what happens if the auto insurance coverage is liability only. But if the medical bills are covered, then you may have a case.
The problem is that you must show that the other driver was at fault in order to have a case. In order to do this, you need evidence. You need proof that the accident was caused wholly or in part by the insured's negligence. Even if the victim's insurance covers the cost of the accident, then it could still come into play if it can be shown that the insured was negligent in some way. It doesn't matter if the other driver sues the driver of the other vehicle, because liability only covers the other driver.
So how do you find the cheapest insurance rates? One way is to look online and compare different companies' rates. Look for coverage amounts that are the same or lower than others in your state. Also check to see if they cover liability only, or both car drivers' coverage. All of these factors can affect the amount you pay on a monthly premium.
Once you find a few liability-only coverage companies, ask them to provide you with a quote from their automobile insurance policy. Find out what level of liability coverage they offer. Then contact them. Tell them you found a quote from a competitor and they want your business, but they also want your opinion on which company to go with. Ask them about their policy, but steer clear of telling them the competitor's name.
