How much will my liability auto insurance pay out in damages if I have a 50/100/15 policy?

I got into an accident in a parking lot and the damage was pretty bad. Another car was involved and there was damage to the storefront. It was my fault and I am worried that I will have to pay what my insurance won’t.

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Johnny Puckett
Answered on Apr 19, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
“The numbers 50 and 100 in your policy refer to your bodily injury liability limits per person ($50,000) and per accident ($100,000), while 15 refers to your property damage liability limit per accident ($15,000).
Since there are multiple parties with property damage claims, your insurance company will have to split that $15,000 between the other car owner and the store owner.
If the total cost of the property damage exceeds $15,000, then unfortunately you’re correct—you’ll have to pay for the remaining balance out of pocket.
If you want to avoid paying out of pocket in the future, you should consider increasing your coverage limit.”
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