Asked by Emily Yannatone on Jul 09, 2024
Verified
Under bodily injury liability automobile insurance,the insurer is liable for damages up to $50,000 per incident.
Bodily Injury Liability
Insurance coverage that pays for injuries to others caused by the policyholder in an automobile accident.
Automobile Insurance
An insurance policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.
Insurer
A party that accepts the risk of loss in return for a premium (payment of money) and agrees to compensate the insured against a specified loss.
- Recognize the variance in insurance coverage types and the specifics of policy terms, with an emphasis on uninsured motorist and personal injury protection options.
Verified Answer
JB
Jesus BritoJul 10, 2024
Final Answer :
False
Explanation :
Bodily injury liability coverage limits can vary by policy and are not universally set at $50,000 per incident. The coverage limit is chosen by the policyholder at the time of purchasing the insurance.
Learning Objectives
- Recognize the variance in insurance coverage types and the specifics of policy terms, with an emphasis on uninsured motorist and personal injury protection options.