The definition of bodily injury is defined as the insurance policy that pays claims for injuries caused to other people in the occurrence of an automobile accident. It is defined in with the analogy of ( a and b) understanding that the letter a is the fixed dollar amount representing thousands of dollars of the insured individual. The letter b represents the fixed dollar amount representing thousands of dollars in coverage per occurrence of an accident. The majority of insurance carriers will let you buy a (UM or UIM) coverage's for the amount up to the insured current bodily injury level.
Others know bodily injury coverage as BI insurance. This is a shortened version of the same type of insurance coverage that pays for a bodily injury to individuals that are not specifically covered on the written insurance contract. When referring to car insurance, bodily injury insurance is a coverage that will pay for medical bills in the event where an individual was hurt by the driver that was named the primary holder of the policy. You can see in some instances that small business owners will take out a bodily injury policy to make sure they are covered if someone has a slip and fall on their property.
Commonly, there are a variety of options for coverage limits within your bodily injury section of the policy. The government makes you have a minimum amount of coverage so the general public can have peace of mind. They make sure that most have a basic policy that would help cover medical expenses due to an auto accident, where the other person's insurance policy kicks in. People with a high net worth will sometimes higher amounts because they do not want individuals coming after their life savings. Protecting personal assets with a quality auto insurance policy is a must. You do not want to see the liquidations of your personal assets, including; houses, investments, and 401ks disappearing. Make sure you have the correct amount of bodily injury coverage for your situation. Talk to your insurance broker about the various limits your policy will allow.