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The More Liability Coverage The Better

By August 22, 2022Insurance

Reasons To Increase Liability Insurance Coverage

There are a lot of reasons it is wise to increase your liability coverage on your home, your car, or any insurance plan you have presently. Before we dive nto those specifics, what is liability insurance coverage?

Liability Insurance: This type of insurance protects you from claims of personal injury or property damage due to something you are found at fault for.

Examples Of Liability Insurance

  • Liability Car Insurance: Pretend you are in an accident and the fault falls on you. While the other person’s medical costs would be covered by medical coverage within the car insurance policy, if that person were to also sue you for trauma, or outlying damages, your liability coverage would kick in and protect you from a specific sum.
  • Liability Home Insurance: Pretend a person walks on your porch and falls due to a rotting board. You could be sued for damages since you did not maintain your porch and would be held at fault. Liability insurance could protect you in the lawsuit.
  • Liability Business Insurance: As a business owner you can be held liable for a lot of things. Imagine an employee gets injured and they sue you on the premise that the appropriate safety steps or equipment were not provided. This falls into liability insurance for business owners.

Why It Is Beneficial To Increase Liability Coverage

The benefits outweigh the cost of increasing your liability coverage. When you increase you liability coverage from $20,000 to $50,000 you will only see a small increase in your insurance premiums. Despite that insignificant increase, you now have an extra $30,000 liability insurance coverage.

Don’t I Have Enough Liability Coverage?

Typically an insurance agent will quote you for the average and liability coverage that will be needed for your plan. As inflation occurs and the cost of things increase, it is likely you will need more liability coverage. By increasing you liability insurance now you can protect your home, vehicle, or business from the unexpected costly liability case.

New Jersey Increases Liability Insurance For Car Insurance

Just this August (in 2022) New Jersey made a mandatory liability insurance increase. It is a staggered plan to increase the minimum in 2023 and again in 2026. While this will increase insurance premiums, it is likely they are trying to amend an insurance coverage issue that is arising in their local state court system where motorists are under insured.

Pennsylvania’s State Minimums For Liability Insurance

While we provide insurance to New Jersey residents and a variety of residents in the north east, our business is located in Lebanon Pennsylvania. Because of that, we want to inform the majority of our customers what the state minimums are for Pennsylvania.

  • Property Damage Liability Minimum For Pennsylvania: For car insurance, the property damage liability minimum is $5,000. If you have ever had personal property like a vehicle, a home, or a garage, you know $5,000 does not cover much.
  • Bodily Injury Liability Minimum For Pennsylvania: The minimum bodily injury liability insurance coverage in an aut insurance plan is $15,000 per person and $30,000 per accident. As medical costs continue to rise, it is likely the minimum liability coverage for bodily injury will increase.

Contact Strickler Insurance To Get Better Liability Coverage

Strickler Insurance works with a wide range of insurance coverages. From car insurance and home insurance to commercial and health insurance. Contact us for a free quote.