In general, auto insurance policies have two separate types of insurance. They include:
1. Property damage insurance coverage
2. Personal injury insurance coverage
The first of these insurance limits is designed to cover the cost of property damage. If you have to repair your motor vehicle, property damage insurance pays for this. If you have to replace your vehicle, property damage insurance should cover this as well.
The second of these insurance limits is designed to pay for any injuries you may sustain in a motor vehicle accident. The insurance company is not responsible for any liability above the limits of these insurance coverages.
Everyone is required to have minimum coverage when it comes to property damage and personal injury coverage. In some cases, policies may have additional coverage; however, this is not universal. For example, if the other person has 50/100 coverage, the limit of property damage coverage is $50,000 and the limit of personal injury coverage is $100,000. If your expenses are greater than these amounts, you may have to pay for this out of pocket. If you sustain $60,000 in property damage and $60,000 in injury expenses, you will recover the complete amount of your injury expenses; however, you will only receive $50,000 for property expenses because that is the limit of the policy.