Distractions and accidents: Don Bullard on liability auto insurance coverage

North Carolina Department of Transportation (NCDOT) states that roughly 220,000 vehicular accidents are reported annually, with over 120,000 North Carolinians injured and 1,500 killed per year. Wilmington-based Don Bullard Insurance tackles the statistics to explain how the Tar Heel can leverage foresight and protect themselves from financial ruin should they encounter accidents.

The NCDOT and other experts agree that speeding and driver distraction are two of the top causes auto accidents. With their prevalence in the state, it became a requirement for all drivers to have liability coverage to protect motorists should accidents occur.

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Liability auto insurance coverage 101

Liability auto insurance is comprised of three separate components: bodily injury per person, bodily injury per accident, and property damage. Bodily injury refers to when a policy holder is responsible for an accident and hurts another person. Property damage is when a policy holder causes damage to another person’s property, which includes a car and/or structural repair.

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Don Bullard Insurance emphasizes that liability coverage only pays for the victim of an accident should the policy holder be at fault. Also, there might be instances that the policy holders have financial responsibilities that exceed their liability limits. For example, the driver incurred $85,000 worth of damages and only has an insurance limit of $65,000. In this case, the driver is responsible for the remaining $20,000 and could be sued for it.

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Because of this risk, agents at Don Bullard Insurance encourage everyone to insure themselves above the minimum requirement to minimize the risk of out of pocket expenses should accidents arise. Additional information about the insurance firm may be accessed at www.donbullard.com.