Auto Liability insurance is necessary on your car insurance policy. It can help cover the cost of legal expenses arising from damages caused to other drivers, pedestrians or property. That is, if you are at-fault in a car accident. Costs will be covered up to your policy limit. Auto liability insurance is mandatory coverage for any driver in Canada; let’s take a deeper look.
Types of auto liability insurance coverage
There are two types of coverage under the liability section of your car insurance policy:
- Bodily injury
- Property damage
Bodily injury will cover the costs associated with injuring someone else in an at-fault accident. Your policy will cover their medical expenses and loss of wages. Property damage will cover damages to someone else’s individual property during an accident, including their car or house.
Every driver is required to carry a minimum coverage as specified by their province. However, we recommend that you carry a higher liability limit if you drive your car for business purposes or carpool frequently. If you drive with others in your vehicle, drive to the US frequently, drive in areas with lots of traffic or high accident rates, it is highly recommended that you carry even higher liability limits.
Liability coverage for car owners
The importance of liability insurance cannot be denied. This type of coverage will provide you with protection against damage you inflict on others and property. It will not cover any of your own damages, so if you have a liability-only auto insurance policy and are at-fault in the accident, you will be responsible for paying for damages to your own car. This will be an out-of-pocket expense. If you want coverage for your own property damage, you will need collision or comprehensive coverage on your policy to offset expenses that liability-only will not cover. This will include theft, vandalism, natural disasters, physical damage to your property/vehicle and physical damage due to colliding with an animal or object.
It is possible to have liability-only coverage, although this is not a suitable option for everyone. Some people will need extensive insurance protection, which will provide greater peace of mind. If your vehicle is financed or leased, you will need more coverage. You must consider your situation to determine which policy will be best for you, which is where isure comes in. Full-coverage insurance may not be necessary, either. Considerations include the age of your vehicle, the mileage, the replacement cost of your vehicle, and overall wear-and-tear.
Whether you want a liability-only policy or something more comprehensive, the experts at isure can help you put the best policy together. Our brokers are experienced and reputable, and will provide you with the best coverage. We help you make informative decisions and will discuss your individual needs so that we can recommend the options that will be most beneficial for your situation.
Contact our team today at 1-877-514-7873 to find out more!