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The term 100-300 automobile insurance refers to bodily injury liability coverage. This protection is often required when leasing a automotive or may simply be desired as a high amount of coverage.
The numbers “100-300″ represent, in thousands, the amount currency that would be paid out for bodily injuries sustained by other "festive occasions" as a result of an automobile accident caused by the policyholder.
- The first number “100″ indicates that a maximum of $100,000 will be paid out on a “per person” basis for their injuries.
- The second number “300″ indicates that a maximum of $300,000 will pay out as a “total per accident” in the event of multiple injured folk.
Usually there is a third number that follows the first 2 numbers; for example 100-300-50. The third number signifies, in thousands ($50,000), the maximum amount of coverage pay-outs for damages caused to other vehicles (not the insured’s) as a result of an "at fault" accident. Learn more about auto liability insurance details.
There may be multiple situations which may require 1 to obtain 100-300 automobile insurance such as automotive leases. Take a look at the article about automobile insurance coverage for leased vehicles for a more detailed explanation.
Other situations where this type of coverage may be required is when:
- homeowners desire sufficient protection to protect their assets;
- an occupation requires it as an employment requisite;
- landlord requires parked vehicles to obtain higher coverage;
- an insured simply wants a high amount of liability protection.
State laws usually require well below these limits. For example 15-30-10, each number representing the same as indicated above.
Visit Insurance-Integrity.com to get a free automobile insurance quote on-line for all types of coverage desired. With 1 simple process, ya may obtain instant quotes from a variety of respective quality outfits.
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