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| L & M | Liability
Liability is a term that broadly means legal responsibility. In case you run a stop sign and hit another car, you may be found liable for the damages to the other driver's car.
Liability Coverage
Liability coverage protects you from having to deplete your assets to pay for damages if you're held responsible for injuries or damages arising from a car accident. Bodily injury and property damage are the two main types of liability coverages in an auto insurance policy.
Limits
Limits are the maximum amount an insurance company will pay for a covered loss. While you can choose your limits for certain coverages, some states require you to buy certain levels of auto insurance coverage. You'll have to choose limits that at least meet your state's auto insurance requirements in such states.
Medical Benefits
Medical Benefits coverage is sometimes a part of your auto insurance policy's Personal Injury Protection or First Party Benefits plans. Such medical expenses, which are the direct result of accident-related injuries, are covered. They are capped at the limits you choose when you buy your auto insurance policy.
Medical Payments Coverage
This auto insurance coverage pays medical bills and/or funeral expenses if a covered driver and/or accompanying passengers are injured or killed while in an insured vehicle, regardless of fault in an accident.
This auto insurance coverage may also cover policyholders and their family members when in others' vehicles, or when policyholders and their family members are on foot and hit by a car. The medical expenses are capped at the limit you choose when your buy your auto insurance policy.
Motor Vehicle Report
A Motor Vehicle Report (MVR) provides information on your driving record. The report includes accidents and moving violations. Auto insurance providers obtain MVRs from states where you or other insured drivers have been licensed to drive.
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