What does the liability model of 100/300/50 mean for auto insurance?
Understand the Problem
The question is asking about the meaning of the liability model 100/300/50 in the context of auto insurance, specifically referring to the coverage amounts for bodily injury and property damage.
Answer
$100,000 per person, $300,000 per accident, $50,000 property damage
$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
Answer for screen readers
$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
More Information
The numbers in a 100/300/50 model respectively cover bodily injury per person, total bodily injury per accident, and property damage. It's a common way of expressing the liability limits in an auto insurance policy.
Tips
Common mistakes include confusing the order or meaning of each number.
Sources
- What does 100/300/50 mean? - Squeeze - squeeze.com
- Auto Insurance Policy Limits, Explained - PARRIS Law Firm - parris.com
AI-generated content may contain errors. Please verify critical information
