Liability Sample Quote: Rating Factors
| Coverages and Other Factors |
|---|
| Coverage Type: Liability Only |
| Number of Vehicles on Policy: 1 |
| Year/Make/Model: 2020 Mitsubishi Mirage G4 ES |
| Ownership Status: Owned |
| Roadside/Towing: No |
| Rental Coverage: No |
| More Auto Coverage Details |
|---|
| Insurance Company: National General |
| Liability Limits: $25,000 each person $50,000 each accident $25,000 Property Damage |
| Uninsured Motorist: Rejected |
| Underinsured Motorist: Rejected |
| Medical Payments: Rejected |
| Comprehensive/Collison Deductible: Not Added |
Liability Sample Quote: Insurance Rate Factors
State: Colorado
Gender: Male
Age Group: 20s
Legal Marital Status: Single
Prior Insurance: No
Violations: Yes
SR-22: Yes
Discounts Applied to this Liability Sample Quote:
Additional Notes: This person currently has their license suspended and is working on getting it back. Once they have their license back, they plan on adding full coverage to this liability sample quote.
Disclaimer: The purpose of this page is to showcase an estimate of what insurance may cost an individual with these products and/or circumstances. This is based on a real liability sample quote.
What is Liability Only Insurance?
Liability Insurance is very basic and the minimum of which is required by law. Each state has different rules and requirements for liability coverages.
For example, Liability in the State of Colorado is $25,000 per person, $50,000 per accident for bodily injury and $15,000 for Property Damage. This is what is known as State Minimum Liability. Of course, coverages can be increased to provide better protection if desired
This means that in the event of an accident caused by you and which you are legally liable for, would be covered by your liability insurance up to these limits.
What is Full Coverage Insurance?
Full Coverage is Liability + Comprehensive & Collision. So liability covers damage that you’ve done to others (up to it’s limits of course), full coverage covers your vehicle.
Comprehensive is all non-collision type incidents, such as hitting a deer, weather related damage, or vandalism like getting your car keyed.
Collision is when you collide with a vehicle or object, like a tree.
Having full of these coverages added onto the required liability is considered to be full coverage. Note that Roadside Assistance and Rental Reimbursement is NOT apart of full coverage. That is an additional coverage and can be added onto any full coverage policy for an additional price.
Not everyone needs full coverage on their vehicle. If your vehicle is older, paid off, and the value of the car is about the same as repairing it, then full coverage is not for you. It would be better to get a new car at that point. You would basically be paying more per month for no reason.
However, if your vehicle is new, still being paid off, or has a higher value still, then you would certainly want to have full coverage to protect your vehicle and yourself financially.
6-Month Premium:
Monthly Installments:
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