If you are like most people, you probably don’t read much of what your auto insurance sends you, other than the bill. Should you be involved in an accident, it’s important that you know what you’ve paid for and how to take advantage of it. Our blog will post a series of articles to help you understand what kinds of auto insurance coverage are offered and what particular insurance terms mean and their implications. This blog post concerns liability coverage.
Liability coverage protects you or another driver insured under your policy if either of you are found responsible to say for someone else’s injuries, damages, or loss from a car accident. This coverage will pay damages for bodily injury and property damage. Bodily injury is broadly defined to include the sickness, injury, or death of another person. It also typically includes economic and wage loss, provided the loss arises out of a bodily injury.
Alaska law requires that you have minimum bodily injury liability limits of $50,000 per person, up to $100,000 per accident. The lower “per person” limit is the maximum amount of coverage available to a single injured person for an accident. The higher “per accident” limit is the maximum total amount of coverage the insurer will pay when more than one person is injured in the same accident. These minimums are often insufficient to coverage damages caused by a serious accident. If your liability insurance limits are not sufficient, the person injured may come after your personal assets. For your own protection, it is advisable to buy the highest liability coverage limits you can afford.
If you have been injured, you should contact a personal injury attorney before negotiating with an insurance company. Contact the Law Office of Ben Crittenden for a free consultation. You can also visit our personal injury page for more information.