What does the liability model of 100/300/50 mean for auto insurance?(1 point)

Question

Responses

$100 premium, $300 deductible, $50 discount for automatic payment
$100 premium, $300 deductible, $50 discount for automatic payment

$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage

$100,000 property damage, $300,000 total per incident, $50,000 bodily injury per person.
$100,000 property damage, $300,000 total per incident, $50,000 bodily injury per person.

$100 discount for good driver, $300 forgiveness, $50 discount for automatic payment

Answer 1

The correct answer is:

$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage.

This liability model indicates the coverage limits of an auto insurance policy, specifying the maximum amounts that will be paid out for different types of claims.