This coverage pays for bodily injury or the demise of someone involved in an accident for which the insured is at fault.
Bodily injury insurance is one of the elements of the liability insurance of a policyholder’s commercial vehicle insurance, and it combines with property damage insurance to supply the total liability insurance coverage the insured needs.
This type of coverage pays for the cost of hospitalization and other associated medical expenses of the third party involved in the accident that the insured has caused. It will cover up to the maximum amount as indicated on the policyholder’s insurance coverage. The payments can indeed help with expenses and financial losses incurred during the accident, which include the following:
- Hospitalization and other medical expenses
Besides helping cover the hospital care and emergency services for the third party involved in the accident, bodily injury liability insurance also helps pay for their follow-up visits to the doctor and other associated expenses such as buying a wheelchair, crutches and all things needed to help during recovery.
- Interment expenses
If worst comes to worst and the other person involved in the tragic accident dies, this insurance coverage will help pay for the funeral costs, too.
- Financial losses
For example, if the insured hits another vehicle and the driver was seriously injured, long-term physical therapy might be needed to help the injured recover. Undergoing therapy and depending on the severity of the injuries, the person might not be able to perform their daily functions on their job and will be advised to file a leave, which will eventually lead to loss of income. The bodily injury insurance might also cover for the compensation in this case.
- Legal fees
Legar charges might be filed by the injured party or their insurance provider against you after an accident, and when this happens you need to immediately seek a legal counsel which can really be a pain in the pocket. But fear not, because the bodily injury coverage will also cover the legal fees.
- Suffering and pain
- Recovery and long-term care
- Other damages
The bodily injury coverage is very vital to protect the insured from paying these expenses straight from his pocket after the accident, right there and then. If and when a legal suit is filed against the insured as a result of the incident, this insurance policy can also pay for the litigation expenses.