What should my bodily injury liability be?
You should carry bodily – injury coverage of at least $100,000 per person, and $300,000 per accident, and property-damage coverage of $50,000, or a minimum of $300,000 on a single-limit policy.
What is the difference between personal injury and bodily injury?
Personal injury implies any type of injury sustained in accidents. These types of injuries may arise from car accidents, slip and fall accidents, defective products, or wrongful death claims. On the other hand, bodily injury is more limited and may imply injuries sustained by another person, usually in a car accident .
What does the personal injury protection cover?
Compensation benefits. Medical expenses, including any hospital bills and rehabilitation. Personal items damaged in a work related accident . Lump sums for death and permanent impairment.
How much personal liability is needed?
Most homeowners insurance policies provide a minimum of $100,000 worth of liability insurance, but higher amounts are available and, increasingly, it is recommended that homeowners consider purchasing at least $300,000 to $500,000 worth of liability coverage.
Do I need collision on an old car?
Until the car is paid off, a lender will require that you carry comprehensive and collision coverage. Most drivers would anyway, since the car still has most of its value. That means the average 10.4-year- old car is sporting 130,000 miles on the odometer. A car with 130,000 miles on it is not usually worth much.
What falls under personal injury?
Personal injury cases are legal disputes that arise when one person suffers harm from an accident or injury , and someone else might be legally responsible for that harm.
What is included in a bodily injury claim?
If you cause a car accident that injures another person, bodily injury liability coverage helps pay for their medical expenses and lost income as a result of their injuries . This coverage may also help pay for your legal fees if you’re taken to court over an accident .
Is pain and suffering bodily injury?
There are two types of pain and suffering : physical pain and suffering and mental pain and suffering . Physical pain and suffering is the pain of the plaintiff’s actual physical injuries . Mental pain and suffering results from the claimant’s being physically injured , but it is more a by-product of those bodily injuries .
What does PIP coverage pay for?
Personal injury protection ( PIP ), also known as no-fault insurance , helps cover expenses like medical bills, lost wages or funeral costs after a car accident, no matter who is at fault. Requirements for this coverage vary from state to state.
Do I need PIP if I have medical insurance?
If you already have health insurance , medical payments coverage and the medical coverage portion of PIP may be redundant, says Lynch. In addition, even if you have health insurance , it may not cover all your expenses related to an accident. These costs include deductibles, dental treatments and even funeral bills.
Do I need PIP if I have Medicare?
No. Drivers cannot coordinate their No-Fault PIP medical benefits coverage with Medicare because it is prohibited by the “ Medicare Secondary Payer” law, which provides that Medicare won’t cover auto accident-related injuries when payment can reasonably be expected to be made by No-Fault insurance.
How much personal liability umbrella coverage do I need?
Before most insurers will sell you an umbrella insurance policy , you must buy your homeowners or auto policy from them and carry a minimum amount of liability coverage —typically $300,000 on your homeowners policy and, on your auto insurance , $250,000 for bodily injury to one person and $500,000 per accident, says the
What does personal property coverage include?
Personal property coverage protects you from loss or damage to: your home or personal possessions . your car.