What You Need to Know About 100/300 Bodily Injury Insurance

100/300 bodily injury insurance is a type of liability coverage that's often required by law. This coverage protects you financially if you're found responsible for causing bodily injury or property damage to others.

The "100" in 100/300 refers to the maximum amount your insurance company will pay per person for bodily injury. For example, if you're involved in an accident and the other driver suffers $150,000 in medical expenses, your insurance company will only pay up to $100,000 of that amount.

You should consider purchasing 100/300 bodily injury insurance if you own a car, drive for a ride-sharing service, or have a business that requires you to drive on the job. This coverage can help protect your assets in case you're involved in an accident and found liable.

The 100/300 bodily injury insurance coverage limit is a common standard in the US, but what does it actually mean? In most cases, it refers to the maximum amount your insurance company will pay for bodily injuries per person and per accident. This can be as high as $300,000 in total.

The 100/300 limit is often seen as a benchmark, but it's essential to understand that it may not be enough to cover the costs of a serious accident. For example, a single surgery to treat a serious spinal injury can approach $100,000, and that doesn't even include other medical bills, physical therapy, and lost wages.

In some states, the minimum bodily injury liability coverage is much lower, such as $25,000 per person and $50,000 per accident. However, even in these states, the cost of damages could certainly exceed those liability limits.

Here's a breakdown of the 100/300 limit:

If the cost of the injuries exceeds the limits of your insurance policy, you may be sued for the remaining expenses. To avoid this, it's recommended to purchase as much coverage as you can afford.

Liability insurance is broken down into two separate components: bodily injury coverage and property damage coverage.

Bodily injury coverage pays for injuries to other parties, whether they were a driver in another vehicle, a pedestrian, etc. It doesn't cover the cost of injuries to you or other individuals listed on your insurance policy.

Property damage coverage pays for expenses to physical property, such as damage to other vehicles, signposts, light poles, and fences. This coverage also doesn't pay for damage to your vehicle or your other property.

Here's a breakdown of what each type of coverage entails:

In the US, state law often requires drivers to carry liability car insurance coverage, and the minimum insurance coverage varies from state to state.

You'll want to check your state's specific requirements to ensure you're meeting the minimum coverage level. It's best to purchase insurance coverage that is higher than the minimum coverage level to provide adequate protection against damages.

Is 100/300 Insurance Required?

No U.S. state law mandates that drivers obtain 100/300 insurance coverage. In fact, most states have much lower limits, typically around $25,000 per person and $50,000 per accident.

Some states, like New Hampshire, don't require auto insurance at all, but if you choose to buy it, you must include bodily injury liability coverage. Other states, like Florida, only require property damage liability and personal injury protection.

Florida is an exception, as it requires drivers who have committed crimes like drunk driving to buy 100/300 insurance coverage. This is a special circumstance that not all states have.

Here's a breakdown of the minimum insurance requirements by state:

It's worth noting that while 100/300 insurance coverage is not required, having it can provide additional protection against damages and lawsuits.

The cost of 100/300/100 insurance varies significantly by state, but it's generally more affordable than full coverage.

In Ohio, this type of insurance costs an average of $468 a year, or $39 a month, making it the cheapest state to buy a 100/300/100 policy.

The most expensive state for 100/300/100 coverage is Florida, where it costs $1,475 per year, or $123 monthly.

You can see the average costs for 100/300/100 liability-only insurance in the most populous U.S. states in the table below:

In comparison, a full coverage policy in Florida costs an average of $2,807 a year, making 100/300/100 insurance roughly half the price.

Most states require a minimum of $25,000 per person and $50,000 per accident in bodily injury liability coverage. This is a relatively low limit, and it's essential to consider increasing your coverage to protect your assets.

Some states, like Florida, don't require bodily injury liability coverage at all. However, it's still a good idea to have it to ensure you're protected in case of an accident.

In Alaska and Maine, the required bodily injury liability coverage is $50,000 per person and $100,000 per accident. This is a higher limit than many other states, but it's still not as comprehensive as the 100/300 coverage.

If you cause an accident that exceeds your policy limits, you could be held liable for the excess expenses. It's best to have a policy with limits that equal your net worth to make lawsuits less likely.

The 100/300 liability coverage is considered the best for most drivers because it offers total protection against significant losses. This coverage includes $100,000 per person, $300,000 per accident for bodily injuries, and $100,000 property damage coverage per accident.

Here's a breakdown of the state minimum bodily injury coverages:

The 100/300 bodily injury insurance coverage is a common choice for many drivers, but it's essential to understand what it means and how it compares to other options.

For example, a 50/100 policy covers up to $50,000 per person and $100,000 per accident, while 100/300 offers $100,000 per person and $300,000 per accident.

If you choose a 50/100 policy, you'll be protected up to $100,000 per accident, but that's still a significant gap compared to the 100/300 option.

Here's a comparison of the two options in a nutshell:

As you can see, the 100/300 option provides much higher limits for both per person and per accident. This can give you greater peace of mind and financial protection in the event of an accident.