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What Exactly Does 25/50/25 Mean On a Car Insurance Policy?
April 18, 2022
The Numbers Could Mean Financial Ruin for You
“What do the numbers '25/50/25' mean on auto insurance?”
It means the insured has exposed themselves and, if applicable, their family to significant financial loss.
Sometimes, auto insurance companies refer to bodily injury liability and property damage liability split limits as a set of numbers in thousands like the question poses.
The first two numbers (25/50) refer to the maximum limit for bodily injury coverage in thousands. In this example: $25,000 per person maximum, $50,000 per occurrence maximum for bodily injury caused to someone else.
The third number (25) refers to the maximum coverage limit for property damage liability. In this example: $25,000 per occurrence.
Just what is Liability coverage do?
It provides the insured and household members with a defense and compensation to someone else if injured, or property is damaged caused due to an accident.
Even when the insured is partially responsible, this important coverage can come into play.
Liability coverage prevents judgments against you from being paid out of the seizure of
This article was originally published at Quora.com.
To see Jeff's Quora.com profile click here.
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“Ask Jeff" is a weekly post made on the RyanAgency.com Blog.
Submit an insurance-related question to “Ask Jeff”.
-------------------------------
This article may have been originally published at Quora.com.
To see Jeff's Quora.com profile click here.
The year 1962 was marked by historic events—from the Cuban Missile Crisis to the passing of Marilyn Monroe. But while the world focused on these headlines, Lee A. Ryan was working alongside his brothers on my grandparents' farm when an unexpected opportunity arose—an invitation to join the insurance business. With no prior experience, no clients, and limited resources, my dad took a leap of faith and partnered with Nationwide Insurance to start an agency from scratch. Operating out of his home on Karr Valley Road in Almond, NY, he built his business one relationship at a time (some of whom are still clients!), laying the foundation for what would become a lasting legacy.
“Am I covered if I drive someone else’s car?” Or, “Am I covered if someone else drives mine?”
Many don’t realize that the insurance industry is one of the country's most regulated business segments, especially in New York State. The New York State Department of Financial Services (NYS DFS) wields significant control over the insurance business and has a stated goal of protecting consumers.
Most property insurance companies offer Actual Cash Value or Replacement Cost settlement options. Typically, insurance companies will require that you insure the property to the settlement value you choose. If you select Actual Cash Value, the amount you may be required to insure the property for will be less than the corresponding Replacement Value.
In that spirit, the Ryan Agency is sponsoring a Stearns BBQ Dinner pickup at our office on 57 Broadway Mall in Hornell on September 12th from 3:00 PM to 4:30 PM.
Today, an individual’s credit history can play a more significant role than any one of those traditional factors. Good Credit Scores lead to a Positive Insurance score. A good Insurance Score greatly influences what someone will pay to insure their vehicles.
Insurance companies offer various discounts for which their policyholders may qualify.
Great Eight number Six (6) suggests taking a look at removing Comprehensive and Collision on Older Vehicles.
By reducing the number of claims in your insurance history, you can significantly affect your rates in the future.
Sometimes, this concept meets with resistance from policyholders. The thought of paying more in the event of a claim is off-putting to some. Even if that means I pay more for my insurance.
