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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.
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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.”
View full answer
- Gregory R.
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