How Much is Liability Insurance?

How much does liability insurance cost? Liability insurance policy costs generally depend on the policy you choose but generally cost from $46 a month to $80 a month depending on the state and the amount of coverage you choose. Learn more about liability insurance rates in this guide from the finance team at MINI of Escondido.

What is Liability Insurance and What Does it Cover?

Liability insurance compensates a person other than the policyholder for personal injury or property damage. Here’s a breakdown of what liability insurance covers:

• Bodily Injury Liability – Provides coverage for bodily harm to the other driver in an accident you caused. This includes the other person’s medical bills, pain, suffering, etc. And if you were to get sued, your defense and court costs would also be covered.
• Property Damage Liability – Covers the damage to the other person’s property and the loss of use of that property. This means that all damage done will be covered.

How Much Coverage Should You Have?

Liability insurance is mandatory in the U.S., and the legal amount you’re required to have varies by state. In California, the minimum liability insurance requirements are:

• $15,000 for injury/death to one person
• $30,000 for injury/death to more than one person
• $5,000 for damage to property

Accidents, especially ones where you’re at fault, can be very costly, so the more coverage you have the better off you’ll be. The liability insurance coverage limits can either be split or combined in a single limit. Here’s how that works:

• A split limit allows you to select individual maximums for bodily injury payments per person, for all people injured, and all property damage
• A single limit does not include a total per person limit, as the lump sum will be spread across all those injured and all property damaged

It is important that you consider how much you can afford. Our finance experts will be happy to help you choose the coverage that is the best fit with your budget.

Explore Your Insurance Options at MINI of Escondido

To learn more about how much a liability insurance policy costs, make the trip from San Marcos or San Diego to MINI of Escondido. Our team will help you decide on how much coverage you should opt for on your new MINI Cooper while filling you in on optional coverage such as gap insurance. If you have any questions or would like to set up an appointment, please contact us.