Bodily Injury insurance is liability insurance!
The big thing to understand about “Bodily Injury” insurance or “BI” insurance is that it is liability insurance. That means if you get paid BI insurance it is coming from the other person’s insurance. If your BI insurance paid, then that means your insurance determined you were at fault to some extent. In short, your own BI coverage does not pay you money.
What does BI insurance pay for?
Bodily Injury insurance pays for items the insured would have to pay for if he or she lost at trial- these items include medical expenses of the injured party, lost wages, pain/suffering, and punitive damages.
How do I know how much I have?
Your insurance card may or may not show your coverage. The “declarations page” or “dec page” will show your coverages. You may see something like: BI-25/50. The BI, of course, means “bodily injury” coverage. The two numbers are generally written in a “per person/per accident” format. In other words, a 25/50 will pay out a maximum of $25,000 to each person making a claim or $50,000 maximum per accident to multiple claimants. If you are making a claim against a 25/50 policy and there are more than two potential claimants, move fast! When the insurance pays out their aggregate coverage, they are generally done.