Cheap Liability Car Insurance
If you are on a tight budget and need the cheapest coverage possible, look into liability-only car insurance. This “bare bones” coverage will cover the other motorists’ damages up to your policy’s limits. This includes the damage done to the automobile due to your actions and the ensuing medical expenses.
It’s important to note that liability auto insurance will not cover physical injuries you sustain in an accident, nor will it cover damage done to your vehicle. Many people that need the absolute cheapest car insurance get state minimum liability coverage.
Coverage requirements vary by state, but rates can be as low as $29 a month in select markets for very low-risk drivers. Get a free rate quote today from Young America Insurance and compare quotes where you live. To get started, just enter your zip code.
Liability Only Coverage is Risky
Just because liability coverage is the cheapest type of auto insurance you can get doesn’t mean it’s what you should buy. The reality is that it could get you into big financial trouble if you get into a serious accident that you caused. A “bare-bones” policy in an accident that causes significant damage will likely cost you big bucks.
With medical costs soaring and automobile costs rising, you could be on the hook for well over $100,000 in damages resulting from an accident you were responsible for. In addition to that, you will likely be sued and could have your wages garnished for years.
This is why most agents recommend buying as much coverage as you can afford. For those individuals with significant financial assets to protect, a cheap liability-only auto insurance policy is just too risky.
If you have an auto loan or a lease, you will likely be forced to get comprehensive coverage. The lienholder will want their investment to be protected, and the only way to do so is to have the driver get solid, comprehensive auto insurance.
Who Should get Liability-Only Car Insurance?
There are several instances in which a person might consider purchasing liability-only coverage. This includes a second car that is not driven much or anyone who has an automobile that’s more than ten years old. Automobiles that are worth less than $6,000 might consider purchasing a liability-only car insurance policy.
Seniors that only drive a few miles a week and have a safe driving record might consider getting a liability-only policy. Many seniors are on a fixed income, and car insurance can be a considerable expense. Senior liability coverage starts at about $38 a month in select markets. Get a free quote today online or over the phone.
Get Liability Coverage With Higher Limits
It would be best to consider getting higher limit liability insurance, starting at 50/100/50. Higher coverage limits will, you guessed it, provide you with better coverage. Rates for higher limit liability plans start at about $60 per month but may cost more or less where you live.
So what exactly is 50/100/50 liability coverage? The first number of $50,000 is for bodily injury protection per individual. Next is $100,000 in coverage for the accident and, lastly, $50,000 for damage caused to property per accident. Keep in mind that you will not be covered for your medical costs or damage done to your automobile.
How Cheap is Liability Only Coverage?
Stats show that, on average, liability-only auto insurance is about 43% cheaper than collision and comprehensive coverage. For qualified drivers, rates can be as low as $1 per day. To get the cheapest possible liability-only rates, drivers should:
- Have a clean driving record (no accidents or tickets)
- Drive a four-cylinder vehicle with four doors
- Drive a car that is worth less than $5,000
- Drive less than 800 miles per month
- Be over 25 years of age and less than 70
- Get a high deductible of $1,000 or more
Shop for the Cheapest Liability Only Policies Online
The internet has made shopping for auto insurance fast and easy. Today, drivers can compare up to ten quotes from top-rated national insurers in only a few minutes. Most people who buy their policy direct can save over $500. Also, many providers have direct rates that are only available online.
To compare the cheapest liability-only car insurance, fill out a quick quote application. You will be matched with the lowest rates for the coverage you need. To get started, enter your zip code. Find the best coverage today and save more.