Tennessee Cheap Liability Only Insurance Or Cheap Liability Only Car Insurance
Liability insurance
Liability coverage pays for the damage you do to others. It’s written as three numbers, such as 20/40/10. That translates to $20,000 in bodily injury coverage per person, $40,000 in bodily injury coverage per accident and $10,000 in property-damage coverage per accident.
It also pays for your legal bills if you cause an accident.
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Bodily-injury liability will pay for others’ medical bills and lost wages when an accident is your fault, except in “no-fault” states, where your own Personal Injury Protection (PIP) coverage would pay for your injuries.
Property-damage liability pays to repair or replace property that you destroy. This includes other cars or property, such as fences.
States have set minimum limits of car insurance you must buy, but you may find them woefully inadequate. If you cause a major accident you’ll quickly exhaust your limits – and be personally on the hook for the rest.
If you cause $65,000 worth of damage and have an insurance limit of $40,000, you’re responsible for the remaining $25,000 and could be sued for it.
Liability insurance has no deductible.
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Car insurance rates
Cheap Liability Only Car Insurance companies expend considerable time and effort deciding how to price policies. The factors usually used are:
- Your address.
- Your driving record.
- Your credit (except where state law bans the use of credit information in insurance pricing).
- Your past claims.
- Your vehicle.
- Your daily commute and/or annual mileage.
Other pricing factors also come into play, such as whether your car will be parked in a garage when you’re home.
