BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your insurance will pay up to $100, 000 in total bodily injury claims in this accident.
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Your insurance will pay up to $100, 000 in property damage.
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Your insurance will pay up to $100, 000 in bodily injury claims per person.
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None of the above
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Detailed explanation-1: -Each number represents the maximum amount your insurance company will pay for a specific part of your liability coverage, so a 100/300/100 policy means bodily injury liability limits of $100, 000 per person and $300, 000 per accident, and property damage liability limits of $100, 000.
Detailed explanation-2: -For example, here is how 50/100/50 limits break down: 50 Bodily Injury Coverage-$50, 000 per person for injuries. 100 Overall Maximum Coverage-$100, 000 will be paid out for injuries total per accident.
Detailed explanation-3: -Liability. Buy at least standard 100/300/100 coverage, which translates into $100, 000 coverage per person for bodily injury, including death, that you cause to others; $300, 000 in BI per accident; and property damage up to $100, 000.
Detailed explanation-4: -The first number, in this example 50, means you have $50, 000 toward injury to each individual. The second number, 100, means you have $100, 000 maximum liability coverage for the accident and the last number, 100, means you have $100, 000 maximum for property damage.
Detailed explanation-5: -Liability coverage limits for different types of vehicles are typically represented by three numbers, e.g. 25/50/25. These numbers represent how much you’re covered for bodily injury per person ($25, 000), bodily injury per accident ($50, 000), and property damage per accident ($25, 000).