A vast majority of states require a minimum of limited liability coverage if you want to own and operate a motor vehicle legally. Most Colorado Springs auto insurance policies include more than limited coverage when it comes to liability insurance. Understanding what is included in liability coverage can help you determine how much coverage you want on your vehicle.
There are three main components involved in liability insurance coverage. First is bodily injury for each person involved in an accident. This coverage has a limit per person of what can be paid out to cover items such as emergency medical aid and general medical expenses and services per person.
The second component is also referred to as bodily injury coverage, but its limit applies to each accident rather than each individual. With this coverage costs including medical expenses, funeral expenses, recompense for loss of income, and legal fees can be covered up to the limit stated in your policy.
The final component of liability Colorado Springs auto insurance is property damage. This limit applies to vehicle repair or replacement costs. It also includes compensation for damage to buildings or objects that may have been affected in your accident.
Understanding the components of liability coverage will help you not only when purchasing a Colorado Springs auto insurance policy, but also when determining what damage is covered in the event of an accident.