What does the liability model of 100/300/50 mean for auto insurance? $100 premium $300 deductible $50 discount for automatic payment. $100,000 per personal battery injury 300,000 per incident for bodily injury 50,000 for property damage. $100,000 for property damage $300,000 per total incident $50,000 bottle entry per person. $100 discount for for good driver 300 forgiveness $50 discount automatic payment
The liability model of 100/300/50 for auto insurance refers to the coverage limits provided by the policy. Here's what each number represents:
- $100,000 per personal bodily injury: This means that the policy will provide coverage of up to $100,000 for each person injured in an accident.
- $300,000 per incident for bodily injury: This means that the policy will provide coverage of up to $300,000 for all bodily injuries sustained in a single accident.
- $50,000 for property damage: This means that the policy will provide coverage of up to $50,000 for any damage caused to another person's property in an accident.
The other information you mentioned, such as the premium, deductible, and discounts, doesn't directly relate to the liability model. The premium is the amount you pay for the insurance policy, the deductible is the amount you would need to pay out of pocket before the insurance coverage kicks in, and the discounts mentioned (automatic payment, good driver, etc.) are incentives offered by the insurance company to encourage certain behaviors or reward qualifying customers.