Liability Insurance Definition Auto

Automobile liability insurance is a type of insurance that covers damages the insured causes to a third party or their property while driving a vehicle. Property damage liability pd pays up to your policy limits for damages to someone else s property that you the policyholder or other drivers covered by your car insurance policy are found responsible for after a motor vehicle accident. Auto liability insurance is a type of car insurance coverage that s required by law in most states.

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Third Party Insurance

You re at a four way stop a few blocks from your house.

Liability insurance definition auto. Auto liability insurance coverage helps cover the costs of the other driver s property and bodily injuries if you re found at fault in an accident. The auto liability coverage definition may sound simple enough but here s a real life example. Liability insurance also called third party insurance is a part of the general insurance system of risk financing to protect the purchaser the insured from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy. If you cause a car accident in other words if you are liable for the accident liability coverage helps pay for the other person s expenses.

It does not cover any damages to the driver their automobile or other property. Liability car insurance is the part of a car insurance policy that provides financial protection for a driver who harms someone else or their property while operating a vehicle. Liability insurance is any insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice injury or negligence. Property damage typically is damage to another car but property damage liability also covers damages you may cause to someone s house tree fence.