Understanding what Liability Insurance is.
In this post you will learn what Liability Insurance really is when it comes to the type of protection you'll receive.
General Liability explained:
In most cases we find that a general Liability plan can offer a coverage on goods and services that arise from commercial activities as well as takes care of Auto Insurance and coverage in the event of destruction of another person's property.
"What happens if I don't have General Liability Insurance?"
In the State of California, you can get suffer severe consequences for not having auto insurance coverage -even when you're not involved in an accident. You must carry the minimum coverage requirements for the State of California.
Types of Liability Insurance include -but are not limited to:
- Bodily Injury
The minimum limits for auto insurance coverage required by the State of California are bodily injury liability of $30,000 per person and $50,000 per accident. Property damage liability of $10,000 per occurrence.
If you are caught driving without insurance you can face Fines, Jail Times, or even suspended or revoked license.
"Explaining General Liability's coverage by the numbers:
If you have split limit liability coverage, it will look something like 15/30/10. Let's break it down:
15: $15,000 covers bodily injury per person.
30: $30,000 covers bodily injury of all people involved.
10: $10,000 covers damage to other vehicles and property
Or, instead of split limits, your liability coverage may be a Combined Single Limit (CSL). CSL simply states a single dollar limit that applies to any combination of BI and PD liability claims. While $30,000 is a starting point, it's a good idea to have as much coverage as you can afford.