Liability Only Car Insurance Quote – TGS Insurance » Blog » Auto Insurance Resources » What are the Risks of Auto Insurance Only?
When choosing an auto insurance policy, it is usually easy to go with the cheapest one available. However, it is important for drivers to get a policy with the coverage they need at an affordable rate. In general, auto liability insurance policies are more budget-friendly, but carrying this type of policy comes with financial risks. Let’s take a look at what auto liability insurance is and what risks come with carrying this type of policy.
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Cause another car and/or driver and does not cause damage to you or your vehicle where you may find yourself in an accident. Liability coverage has two parts: liability for bodily injury and liability for property damage.
Liability Car Insurance
Bodily injury coverage pays for someone else’s injuries if you are at fault within your policy limits. You will usually find this on your auto insurance claim page divided into two numbers:
If you are found liable, property damage liability coverage covers damage to the vehicle or other property (eg. Generally, the average policy offers $25,000 in home damage coverage per accident, but your statement page will specify the amount of coverage your
Remember, if you have auto liability insurance, none of the coverage listed above will cover you or your vehicle. (Which we never recommend.) If you choose not to get comprehensive coverage (which is illegal in some states), then you will be financially responsible for any accidents or injuries you are responsible for.
Other things can damage your car outside of an accident, such as storms, floods, debris, etc. With a liability insurance policy, you will not be responsible for these incidents and will be financially responsible for the necessary repairs.
Cheapest Liability Only Car Insurance (2023 Guide)
Auto liability insurance policies are not a bad policy to carry; They are ideal for those who own a low value car or if you own your car outright. If you’re not sure whether to get a comprehensive liability policy, you’ll need to first calculate the value of your car. This is usually based on your vehicle’s age, mileage, and overall condition. You can use the Kelly Blue Book as a resource to help you find the best estimate but remember that insurance companies have their own pricing methodologies.
If the value of your car is lower than a comprehensive insurance policy, then a liability policy may be your best bet. But if your car is worth more than that, then you’ll need more than just liability coverage.
Carrying a liability policy leaves you open to financial risks that you might not otherwise have with a comprehensive auto policy.
Auto insurance is a necessity for all drivers but determining what coverage and how much you need is not always as cut and dry as one might expect. Sometimes you can be overinsured or underinsured, pay too much for auto insurance, and it can all be confusing, but we’re here to help.
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At TGS Insurance, our team of experts will tailor the perfect auto insurance policy for you that takes into account the coverage you need and what’s best for you. We will purchase your policy from our bank of over 35 A (or better) rated insurance companies so you can get the best policy the market has to offer. Do you need the state’s minimum requirements or an all-inclusive policy that protects you completely?
Get your no-nonsense auto insurance quote today and see why over 15,000 Texans trust TGS Insurance for all their insurance needs! in . His work has also appeared in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.
Anna Swartz Anna Swartz Managing Editor and Auto Insurance Expert Anna Swartz is a senior editor and auto insurance expert at , where she oversees our auto insurance coverage. Before that, he was a senior staff writer at Mic.com, as well as a contributing writer at The Dodo.
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Cheapest Car Insurance Quotes In California For 2023
We found that GEICO has the cheapest car insurance available for most drivers who want minimum coverage (ie the minimum insurance required by law). Auto owner has the cheapest comprehensive liability insurance, but it is not available in every state.
A liability insurance policy only refers to a policy that does not include comprehensive or collision coverage. With liability-only insurance, you will only be covered for damages you cause to others in an accident, not for damages to your vehicle.
We found the companies with the cheapest liability insurance by analyzing rate data from every zip code in the country. These rates were provided by Quadrant Information Services.
The rates we analyzed were based on the insurance requirements in each state for a minimum insurance policy. The prices in this study reflect the minimum amount of insurance you can get and still drive legally, but it’s possible that you have a liability-only policy that exceeds your state’s minimum coverage limits.
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The rates for the general average rate, the rates by zip code, and the cheapest companies were determined with the average for drivers over 30 years old. Our example vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.
To find the cost of liability insurance after an accident, we calculated the average premium increase in each company for the percentage of full coverage. We then apply this percentage change to the average cost of a liability policy from the same company.
Some carriers may be represented by affiliates or corporations. The rates presented are an example of costs. Your actual words may vary.
Liability car insurance only costs $51 per month (or $617 per year), but some companies have cheaper rates.
Types Of Car Insurance Coverages
We have found that the cheapest single liability car insurance is the Owner’s Insurance. On average, the cost of an Owner’s Liability car insurance policy is $27 per month, or $327 per year.
Drivers can also find some of the cheapest insurance from smaller companies like MAPFRE and Erie, as well as from USAA, which offers policies only for military-connected drivers. But because these companies are not available to everyone, GEICO is the cheapest single liability insurance for most people.
Ratings How we score: Ratings are determined by our editorial team. Our methodology includes many factors, such as price, financing rate, quality of customer service, and other product features.
GEICO has the best rates for liability insurance of any company available in the country. GEICO offers coverage in every state and Washington, D.C., drivers anywhere will be able to get a quote from GEICO.
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GEICO is the cheapest single liability insurance company of any national company available. The only company in our top picks available in every state.
On average, liability-only car insurance at GEICO costs $34 per month ($402 per year). That’s $215 a year cheaper than average. It is only $35 more per year than the company with the cheapest liability insurance only.
GEICO also has several discounts that drivers can use to get even cheaper rates. You can save on your GEICO policy if you:
Auto owners generally have the cheapest liability-only insurance, although it’s not available in every state. But if you live in one of the 26 states that offer Homeowner’s coverage, you can get less than $30 a month in liability.
Tyler, Tx Auto Insurance
Auto Owners has the cheapest car insurance from any company on our list. On average, the cost of a policy with only minimum liability coverage for Owner-Owner is $27 per month ($327 per year). That’s $290 a year less than the national average.
While Homeowners Liability Insurance is affordable, it is not available everywhere. Owner-Owner only offers auto insurance in 26 states, and does not offer coverage in California, New York, or Texas.
USAA has some of the cheapest rates for liability only insurance, but it is only offered to active and retired members of the military and their families. Along with affordable rates, USAA has some of the best claims satisfaction in the industry.
Drivers in the military (and their families) can find affordable liability insurance from USAA. We found that the average cost of a liability-only insurance policy from USAA is $31 per month ($369 per year). That’s $248 less than the national average each year.
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In addition to high rates for liability insurance for military families, USAA has several discounts that drivers can use to lower costs. You may qualify for discounts from USAA if you:
USAA also has great customer service. It ranked near or at the top of the J.D. Claims Satisfaction Survey. Power’s year after year means customers feel good about the claims process with USAA. 
Values increase after an accident, but you can still find cheap liability car insurance only at State Farm. Unlike other companies that have cheap accident insurance on file, State Farm is available in almost every state.
State Farm has the cheapest car insurance for people with a recent accident on their driving record. In general, we have seen that