What do the numbers 50/100/20 represent in an insurance policy?
The numbers 50/100/20 represent the liability coverage limits in an insurance policy.
- 50 stands for $50,000, which is the maximum amount the policy will pay for bodily injury per person in an accident.
- 100 stands for $100,000, which is the maximum amount the policy will pay for bodily injury per accident involving multiple people.
- 20 stands for $20,000, which is the maximum amount the policy will pay for property damage per accident.
These numbers indicate the amount of coverage the policy provides in the event that the policyholder is found responsible for an accident and someone is injured or their property is damaged.