Whether you’re about to purchase a new vehicle or a pre-owned model, you may be asking yourself, “How much does liability insurance cost?” Generally speaking, your liability insurance policy cost will depend on the policy you choose. The most common policy for Cincinnati, OH drivers going above legal requirements is the 100/300/50. With this policy, the insurer will pay up to $100,000 for injuries per person, $300,000 for injuries per accident, and $50,000 for property damage per accident. Depending on the state you live in, this can cost anywhere from $46 to $80 per month.
In the unfortunate event of an accident that the insurer is responsible for in Covington, liability insurance provides coverage to pay for the other driver’s vehicle damage or bodily injuries. There are two different types of liability insurance: Bodily Injury Liability and Property Damage Liability. Explore what each option covers:
The legal amount of liability insurance you must have depends on which state you live in. If you decide to get additional coverage, you’ll likely pay a higher premium, but you’ll be much better off if an accident occurs. If your budget allows for it, it’s always better to have more coverage than is legally required, as accidents can be very costly, especially when you’re at fault.
If you’d like more information on liability insurance rates, head on over to our finance center located in our Independence area dealership. Our team can help you figure out which type of liability insurance coverage would work best for you, and they can even help you explore the differences between comprehensive vs. collision insurance if you’re interested in extra protection. If you have any questions in the meantime, don’t hesitate to contact us!