What is 100-300 auto insurance

The term 100-300 auto insurance refers to bodily injury liability coverage. This protection is often required when leasing a vehicle or may merely be desired as a high amount of insurance coverage.

The figure "100-300" represent, in one thousand, the amount money that would be paid out for bodily injuries sustained by other political party as a consequence of an car accident caused by the policyholder.

• The first figure "100" indicates that a upper limit of $100,000 will be paid out on a "per individual" basis for their injuries.
• The sec number "300" indicates that a upper limit of $300,000 will pay out as a "total per accident" in the event of multiple injured people.

Usually there is a third figure that follows the first two figure; for illustration 100-300-50. The third figure signifies, in one thousand ($50,000), the upper limit amount of insurance coverage pay-outs for harm caused to other vehicles (not the insured's) as a consequence of an at-fault accident. Learn more about auto liability insurance item.

There may be multiple situations which may require one to obtain 100-300 auto insurance such as vehicle leases. Take a look at the article about car insurance coverage for leased vehicles for a more detailed explanation.

Other state of affairs where this type of insurance coverage may be required is when:

• homeowners desire sufficient protection to protect their plus;
• an business requires it as an employ requisite;
• landlord requires parked vehicles to obtain higher insurance coverage;
• an insured person simply wants a high amount of liability protection.

State laws normally require well below these bounds. For illustration 15-30-10, each figure representing the same as indicated above.

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