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Basics of Liability Coverage Explained by Online Auto Insurance


Miami, FL, June 15, 2011 --(PR.com)-- A new FAQ published by the writers at OnlineAutoInsurance.com outlines the fundamentals of liability car insurance, a type of coverage that practically all drivers in the country are required to carry. But despite the fact that most motorists must have this type of financial protection to cover any damages they may cause while behind the wheel, not all have a complete grasp on the particulars of it.

A poll conducted in March 2010 by the National Association of Insurance Commissioners (NAIC), for instance, showed that the majority of respondents could not correctly interpret the notation that is used to indicate the limits of a policy. Survey participants were shown the basic shorthand for an example liability coverage policy — 100/300/100 — and were asked what the last “100” meant. Only 14 percent of the respondents gave the correct answer — that it indicated the policy would provide up to $100,000 in property damage liability coverage. (The first two numbers represent the bodily injury liability limit for one person and the limit per accident, in thousands of dollars.)

The writers also address the fact that the amount of required protection varies widely from state to state. While many industry and consumer groups recommend motorists carry $100,000 in bodily injury coverage per person and $300,000 per accident, many state minimums fall below that. Basic Florida auto insurance policies, for example, initially require drivers to carry no bodily injury protection at all and only $10,000 of property damage liability.

Source: http://www.myfloridacfo.com/consumers/guides/auto/docs/autoguide2008.pdf

But, as the writers point out in the FAQ, motorists almost always have the option of beefing up their levels of financial protection and may want to talk to current or prospective insurers about the cost of doing so.

To learn more about this and other insurance issues, readers can go to http://www.onlineautoinsurance.com/florida/ where visitors will have access to informative resource pages as well as a quote-comparison generator that can help consumers track down affordable rates quickly.

To access the full FAQ, visitors can follow the “Questions” link located at the top of any page on the site.

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Contact Information
Online Auto Insurance
Benjamin Zitney
909-784-2475
Contact
http://www.onlineautoinsurance.com/

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