ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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other people’s injuries when you cause an accident.
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other people’s property when you cause an accident
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your injuries when you cause an accident
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other people’s injuries when they cause an accident.
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Detailed explanation-1: -The best liability coverage for most drivers is 100/300/100, which is $100, 000 per person, $300, 000 per accident in bodily injury liability and $100, 000 per accident in property damage liability. You want to have full protection if you cause a significant amount of damage in an at-fault accident.
Detailed explanation-2: -According to Indian motor tariff, anyone can drive your car under the permitted laws. Hence, don’t worry before lending your car to your friends or family members. You can make a claim with your motor insurance company even when your friend crashes the car.
Detailed explanation-3: -Bodily injury typically refers to a type of liability insurance coverage that can protect you if you injure someone else in an accident, whereas personal injury refers to a type of civil action against the party responsible for your damages.
Detailed explanation-4: -In the event of an accident wherein the insured person causes damage to the third party car, the insurer will provide coverage of up to Rs 7.5 lakh for the third party.