- What is the difference between bodily injury and medical expenses?
- How much does progressive payout for pain and suffering?
- Why is Progressive Insurance so cheap?
- How much bodily injury insurance is enough?
- Do you really need collision coverage?
- What happens when my car accident settlement exceeds the limit?
- How much money can I get for bodily injury?
- What is standard bodily injury coverage?
- What is a good settlement offer?
- Is death covered under bodily injury?
- How much does progressive pay for bodily injury?
- What is fair compensation for pain and suffering?
- When should I drop full coverage?
- How much bodily injury car insurance do I need?
- How much should I ask for in pain and suffering?
What is the difference between bodily injury and medical expenses?
Bodily injury liability coverage applies to injuries you or anyone insured under your policy becomes legally responsible for as a result of an accident.
Medical payments coverage pays for reasonable medical expenses incurred by you or passengers in your vehicle regardless of who is at fault for the accident..
How much does progressive payout for pain and suffering?
The most that these policies will pay out is $20,000 per accident. Of course, Progressive sells car insurance policies with higher bodily injury liability limits. That said, a $10,000 per person BIL is the most common limit that I’ve seen with Progressive.
Why is Progressive Insurance so cheap?
Progressive is cheap because it offers a variety of discounts and equips consumers with advanced tools to get the best rates. Progressive’s price comparison tool allows shoppers to compare their Progressive quote against competitors’ rates all in one place, for example.
How much bodily injury insurance is enough?
Even if your state doesn’t require liability insurance, it’s a good idea to have at least $500,000 worth of coverage that encompasses both types of liability coverage—property damage liability and bodily injury liability.
Do you really need collision coverage?
Collision insurance isn’t mandatory in any state, but lenders typically require it if you finance or lease a car. Here’s a little more about what collision car insurance will — and won’t — pay for, plus how to know if it’s worth the cost.
What happens when my car accident settlement exceeds the limit?
If your damages are greater than the defendant’s insurance policy limits, you may be entitled to a judgment for more than the policy limits. You could potentially recover the remaining judgment by garnishing the defendant’s wages or putting a lien on their property.
How much money can I get for bodily injury?
The per-person limit applies to each person injured in an accident. If the person who hit you has a per-person limit of $50,000, the most you can get from their insurance company for your injuries and pain and suffering is $50,000.
What is standard bodily injury coverage?
Bodily injury liability is coverage that helps you pay for another person’s injuries in a car accident for which you are found to be at fault. … The other, property damage liability coverage, pays for damage you may cause to the other driver’s car.
What is a good settlement offer?
Most cases settle out of court before proceeding to trial. Several factors can provide guidance on whether the settlement should be accepted. … In general, if you can get close to judgment value of the case in settlement, then it should be considered a very good settlement.
Is death covered under bodily injury?
The legal definition of a bodily injury is roughly the same as the definition used by insurance companies: any physical sickness or injury to the physical body is a bodily injury, including death if the victim died from a physical sickness or injury.
How much does progressive pay for bodily injury?
Bodily injury per accident: $50,000 is the maximum amount your insurer will pay out for injuries per accident. Property damage per accident: $20,000 is the maximum amount your insurer will pay out for damage to someone else’s vehicle or property per accident.
What is fair compensation for pain and suffering?
That said, from my personal experience, the typical payout for pain and suffering in most claims is under $15,000. This is because most claims involve small injuries. The severity of the injury is a huge factor that affects the value of pain and suffering damages.
When should I drop full coverage?
You should drop full coverage insurance on your car when the cost of the insurance premiums equals or exceeds the potential payout, should a covered event occur. … For example, an older car with high mileage may not be worth costly repairs, and you might want to save for a new car instead of paying for extra insurance.
How much bodily injury car insurance do I need?
Liability for Bodily Injury – The minimum coverage for bodily injury varies by state and may be as low as $10,000 per person or $20,000 per accident. Many auto policies stop at a maximum of $300,000 or $500,000 per accident for Liability coverage.
How much should I ask for in pain and suffering?
The more severe, the more your number is multiplied by. For example, if a person has $4,000 in medical bills because of a torn ligament, they might multiply that amount by two. This would determine their pain and suffering value to be $8,000.