California requires drivers to carry at least the following auto insurance coverages: Bodily injury liability coverage: $15,000 per person / $30,000 per accident minimum. Property damage liability coverage: $5,000 minimum. Uninsured motorist bodily injury coverage¹: $15,000 per person / $30,000 per accident minimum.

How do policy limits work?

These policy limits are the maximum amount an insurance company will pay per event. That means, if your homeowners’ insurance policy has a limit listed of $300,000, then that is the maximum amount your insurer will pay towards any claims you may file up to that amount, for the term outlined in your policy.

Does insurance pay more than policy limits?

Unfortunately, you cannot make an insurance company pay beyond its policy limit. You do, however, have the right to sue the at-fault driver for more than the value of his or her insurance policy. In most cases, your lawyer will pursue compensation for you through negotiations with the insurance company.

What are the limits of an insurance policy?

The limit is the largest, or aggregate amount that the insurance carrier will pay for a covered loss under the insurance policy contract. Many policies have multiple limits such as per incident or per person. Many policies limit the actual number of occurrences or incidents in a given policy year period.

What are the limits for bodily injury insurance?

Bodily Injury Limits: These are the first numbers you usually see. Example 100/300. This means the most the policy will pay is $100,000 per person up to $300,000 per accident. If an injured person has injuries up to $100,000 — your insurance will pay that amount.

What do the numbers mean on liability insurance?

This is why you should have ample Liability Insurance. Bodily Injury Limits: These are the first numbers you usually see. Example 100/300. This means the most the policy will pay is $100,000 per person up to $300,000 per accident. If an injured person has injuries up to $100,000 — your insurance will pay that amount.

What are the limits on professional liability insurance?

Many policies limit the actual number of occurrences or incidents in a given policy year period. Many professional liability policies have a $1 million limit and a $3 million aggregate limit per policy year. This means the policy pays up to $1 million per occurrence (a single claim), and $3,000,000 in the aggregate during the policy term year.