Covers financial loss due to legal expenses, medical expenses, lost wages, etc. associated with injuries caused by an accident for which you were responsible.
Expressed as 3 numbers, example: 100/300/50. (Maximum coverage in $1,000’s.)
$100,000 maximum paid for injuries to any one person.
$300,000 maximum paid in total (all people in accident)
$50,000 maximum paid for property damage.
Joseph has 50/100/15 auto insurance coverage. One evening he lost control of his vehicle hitting a parked car and damaging a store front. Damage to the parked car was $5,400 and damage to the store was $12,650.
What amount will the insurance company pay for the damages?
What amount will Joseph have to pay?