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A 100/300 policy is an insurance policy that includes bodily injury liability coverage limits of $100,000 per person and $300,000 per accident. A 100/300 policy is generally recommended for drivers who can afford it, since it offers more protection against serious accidents than the insurance required by most states.
It’s important to note that the 100/300 insurance notation does not include property damage liability insurance, which is required in nearly every state in order to pay for property damage that you cause in an accident. Many states also require other types of insurance in addition to liability coverage, including personal injury protection (PIP) and uninsured/underinsured motorist coverage.
Although bodily injury liability insurance of 100/300 is recommended for most drivers, you should consider purchasing even higher limits or a personal umbrella policy if you have a particularly high net worth. Additionally, bodily injury liability insurance will only pay for other people’s injuries if you cause an accident, not your own. In order to cover your own medical expenses after a wreck, you’ll need to purchase PIP or medical payments coverage.
To learn more, check out WalletHub’s guide to liability insurance.
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