A 100/300/50 insurance policy means your insurer will pay out a maximum of $50,000 to cover damage to another driver’s vehicle or property. The third number is the property damage liability. But if you were in an accident with more than three people, let’s say five or six, your insurance policy would only pay out up to $300,00 and no more than $100,000 for a single individual. Let’s say you were in an accident that involved three injured people, your 100/300/50 policy would cover each person up to $100,000. Bodily injury liability per accident is the maximum amount your insurance company will pay out for a single accident. The next number denotes the bodily injury liability per accident. Lastly, this coverage pays for any of your legal fees. Depending on what state you are in, there may be limits to how much compensation an injured person can receive. You will also need to compensate for any lost income while that person is incapacitated and unable to work, so your bodily injury liability helps cover this as well. Medical costs include hospital bills or medical expenses, follow-up physical therapy, and recovery doctor’s visits. Under bodily injury liability are medical expenses, compensation for lost wages, and legal expenses. With a 100/300/50 insurance policy, you are responsible to pay for any costs above $100,000. That is, it’s the maximum amount your insurance company will pay out for each person that is injured in an at-fault accident. The first number represents the bodily injury liability per person. Having a 100/300/50 auto insurance policy means you have $100,000 in coverage for bodily injury liability per person, $300,000 for bodily injury liability per accident, and $50,000 for property damage liability.
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