The Size of an Auto Insurance Policy
The Size of an Auto Insurance Policy
One of the most common measures of an auto insurance policy is the limit that an insurer has built into the agreement, that basically says, “The limit on this policy is $100,000. And that’s the most we’ll ever legally have to pay out to you, despite whatever the grand total of the costs are.” Okay, so you take that limit, and compare it to the market value of your car, and either your car falls well “within the money” or out of the money. If it’s in the money, the size of the policy will be far greater than the value of your car.