How and why to compare auto insurance quotes for liability limits?
Don Rickles : I have been asked by the bank to get coverage of 100/300/100 on the auto insurance policy. Is this legal? How do I compare auto insurance quotes for these limits?
How to compare auto insurance quotes for different coverage limits?
response : Don, I can understand your apprehension when you have been asked by the bank to get coverage for 100/300/100 limits. Now, basically I can answer your questions on what this means from the insurance perspective and guide you on how to compare auto insurance quotes for different coverage limits.
Compare auto insurance quotes for liability limits
Any insurance professionals and insurance agents would endorse the fact and agree that the ideal auto insurance policy limits are 100/300/100 in insurance parlance. That means that the policy limit for bodily injury per person should be 100,000, the limit for bodily injury per car should be 300,000, and the limit for property damage per accident should be 100,000. You would have to compare auto insurance quotes based on these limits.
The above limits are much higher than the mandatory limits but these are considered the safe limits. However, these limits would depend on the financial capacity of a particular person and the area in which the person is driving. For example, if a person is at fault in a freak accident in a costly suburb and the landscape and other property of another person had been damaged heavily, then the cost of the damage could be more than 100,000.
When you compare auto insurance quotes for these limits and for the minimum limits set by the states which are much lower, you may be surprised to find that the car insurance premium is not much higher.
Though this might not be legal on the part of the bank to insist on these limits, it is prudent to have decent cover to meet any eventuality The limits of coverage which have been asked here are the liability limits. These are the limits for bodily injury, property damage and any accidents.
Compare auto insurance quotes for same limits for each quote
In case you cannot get a multiple quote, please ensure that when you compare auto insurance quotes you do put in the same limits for each quote, otherwise your whole purpose to compare auto insurance quotes and getting the best option would be in vain.
Personally, I would encourage you to get these limits and save on car insurance premiums by getting your free quote here or to compare auto insurance quotes for free. Check out your best options now, before….. the dynamic market changes like the bank rates.
Tagged with: Apprehension • Auto Insurance Policy • Auto Insurance Quotes • Auto Quotes • Bodily Injury • Car Insurance • Coverage Limits • Don Rickles • Eventuality • Freak Accident • Insurance Agents • Insurance Perspective • Insurance Premium • Insurance Professionals • Landscape • Liability Limits • Mandatory Limits • Parlance • Suburb • What This Means
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