Under state law, Indiana car insurance customers are required to have bodily injury and property damage liability coverage in place. The bodily injury coverage portion of an insurance policy pays for damages sustained by the occupants of the other vehicle following an accident. It pays for medical bills, funeral costs and other expenses incurred by injured people.
Property damage liability coverage is put in place to cover the cost of repairing the other driver’s vehicle. It also pays for the cost of fixing other property damaged in the accident, including fences, guard rails and sign posts.
While a driver who buys only the minimum level of coverage required by law has met his or her financial responsibility requirements, this may not be enough to provide adequate protection. Car insurance is bought to protect the policyholder’s assets, and in a situation where the accident is a serious one, an Indiana car insurance customer will be responsible for paying for any damages not covered by his or her car insurance personally.
Rather than run the risk of having to use one’s personal funds or sell off hard-earned assets to satisfy a judgment, a better choice is to find a car insurance policy with a higher limit. Shopping around for coverage is key to finding a better level of coverage at a price you can afford. Go online to check out offerings from different insurance companies to get the best deal for your situation.