Why is liability insurance so cheap?
Liability insurance is typically inexpensive because it covers only damages or injuries caused by you to someone else. This type of coverage does not include protection for your own property or injuries. Therefore, the risk to the insurance company is lower compared to other types of insurance like comprehensive or collision coverage. Additionally, liability insurance is required by law in most states, which means more people are purchasing it, leading to lower costs. Overall, the limited coverage and high demand make liability insurance more affordable for policyholders.
