Personal Auto Limits. For example, suppose you have a $50,000 limit. Protecting your business and revenue requires this form of insurance.
Personal automobile liability minimum statutory limits combined single limit. The minimum limits of liability required under georgia law are bodily injury liability of $25,000 per person, $50,000 per occurrence and property damage liability of $25,000 per. For 2021, a vehicle qualifying in the “heavy” category has a section 179 tax deduction limit of $26,200.
Let's briefly take a look at some of the common limits.
Insurance policy limits tell you the maximum amount your insurance will pay for claims on each type of coverage you carry. A personal auto policy (pap) refers to a standard insurance policy issued to personal drivers. For 2021, a vehicle qualifying in the “heavy” category has a section 179 tax deduction limit of $26,200. It's required by law in order to legally operate a vehicle.