Generally, the greater the limit the more secured the policy holder is. However, due to the premium cost involved in the maintenance of the insurance, one should target the limit practically by focusing on all the possible circumstances that the CAR may encounter. Assume, if you are new to driving and the streets to your office where you drive often are quite congested and there have been many instances of collisions in the past as well, you must opt for a higher limit.
However, if you possess a long term driving experience and you trust your driving skills, you can opt for a comparatively smaller limit. Anyone, who is interested to purchase a Property Damage Liability Cover must looks at all the below aspects for considering the limits:
- Years of Driving-
The more the years of driving experience you have the lesser you can invest in purchasing the policy.
- Roads of your city
Look around the roads of your city and the place that you often visit and figure out if your can confidently drive at those places?
- Number of Accidents in the past
Pull out records from old news papers or internet, the average accidents in your city, you may also check the total number of claims request each year from the best insurance providers available in your city.
- Trust level on your driving
How must confident you feel when you drive, how much balanced your driving skills are, do you drive slowly or rashly, are you always in a hurry, these question can help you figure out your overall all confidence on your driving based on which you can further opt for appropriate limit.
- Your Age
Age is an important factor that should be considered for deriving an optimum limit for Property damage liability cover, teenager and very old people may commit more mistakes while driving, so the limits of Property damage liability cover should also be increased appropriately.
- Your physical condition
Physical condition is also one of the important criteria for deciding the limit, are you physically sound and healthy?, are your eyesight's normal?, Do you have any back pains or stain in legs ? And so on. These question may also contribute in your calculations for Property damage liability cover
- Are you on regular medications?
Being on regular medicines may have common side effects which may lead to a lower alertness while driving and so this should also be considered while planning for the limit of your Property damage liability cover.
- State government rule of minimum limit
Don’t miss to refer the state government rule of minimum Property damage liability cover, as anything below this limit will not be accepted legally.
- Your CAR condition
Condition and age of your CAR is also one of the important factor for your Property damage liability cover, the better the condition, the more control you will have on your CAR and so a lesser limit on Property damage liability cover is required.
- Your personal finance
Personal budget should also be consider, as everyone has lots of commitments other than just holding an insurance cover as well.
All the above factors should be analyzed thoroughly to decide an ideal limit for your Property damage liability cover.