insurance questions

100/300/50

means 100k per person, 300k max for people, 50k for property.

so if I get in a accident at my fault, the people injured have the 100/300, and all property involved gets 50k, so my vehicle and their vehicle + and other damage? is that correct? and at their fault it's just a carry over if their insurance does not cover.

personal injury at 50k means I get 50k covered if I am hurt in a accident caused by me it is bills are covered up to 50k. And if at their fault it is a carry over?


State minimum is like 25/50/25.
100/300/50 seems like a pretty good number in my book, but I could be under estimating things a bit. 300k split between a car full of people is quite a bit, and 50k seems like plenty to cover 2 vehicles if totaled. Am I over looking things? Just want to be safe and make sure things would be taken care of.

 

The 50k does not include your vehicles damage. Just property damage to other peoples vehicle.

 

where can I find how much of my property is covered? o.o

so 50k for their vehicle defiantly seems suitable, as long as we don't go through a building.

 

Collision and comprehensive coverage is not limited to a specific dollar amount. Your vehicle will be valued based on its actual cash value at the time of the loss. The limits you listed are your bodily injury limits (100/300) and property damage limits (50).

I think your limits are fine unless you have a lot of assets available should you cause more damage than your limits.

 

You are probably OK on the coverage for people, but I would see how much it costs to bump it up, its usually not much; just remember, people can be very expensive!

But, I think you should bump the property damage up to $100,000. It is becoming more common to find vehicles on the road nowadays that cost more than $50,000.

In your case, if you total someone else's car worth $75,000 your insurance is going to write a check to them for $50,000 and you owe the rest.

just my $.02

 

id go with the mins for your state and consider PIP and uninsured motorist insurance.
pip is your 50k mentioned but it also cover you for injuries that you are not at fault with. if you get in an accident your primary health insurance wont cover your medical cost due to now being considered third party insurance. at least in texas. your state laws may differ.

maybe an insurance agent or lawyer is on here that can answer your question with more authority.

 

Depending on your carrier you can increase your limits to 300/500/100 or more without having to purchase an umbrella. If you have the money more coverage is better but not everyone can afford more than they may need.

 

I was pretty tight on funds when I first moved out and needed to get full coverage for the truck, my current limits are 25/50/25 which I don't feel comfortable with and now that I am not the only source of income I am re-evaluating the things I feel that are important. This being a big one.