What Is Broad Form Insurance
Broad form insurance is one of the most basic auto insurance policies. It’s purpose is to meet your state’s minimum liability requirements. If you are in an accident, your insurance will cover the victims’ damages, but you will not be compensated for personal damages.
Is Broad Form Insurance for You
Broad form insurance is only authorized in CO, DE, ID, IA, MD, MS, NE, NV, OH, TN, and WA. If you drive alone, use multiple cars, and don’t let others drive your car, this is the policy for you!
Pros of Broad Form Insurance
It is often the cheapest policy because you only pay for liability insurance. You can drive multiple cars with no extra cost. Broad form insurance fulfills the requirements for SR22 insurance.
Cons of Broad Form Insurance
Damage to your vehicle is your responsibility. If anyone else drives your car and causes an accident, you are responsible for the victims’ compensation. If injured, you or your passengers are not covered.
You are not insured when driving for business purposes. Additionally, this plan does not insure the use of motorcycles or RVs.