Car accident property damage liability coverage
There are two types of financial responsibility or “ financial liability” when an you’re involved in a car accident. Property liability involves damages from a car accident to another driver’s vehicle and/or other property. If you have property damage liability coverage, it will cover the cost of damages when you are at fault.
In most cases, property damage liability insurance will cover the repair and/or replacement of damaged vehicles, including body repair, as well as damaged personal property such as a fence, street lights, or a house. Not covered by property damage liability insurance is damage to your vehicle or personal property as a result of the accident. Collision coverage helps pay for damages to your car. Personal injury protection helps pay for any costs that result from injuries sustained during the accident.
Do I need to have it on my policy?
Do you need property liability coverage? The answer is unequivocally “yes!” Without it, you’re going to end paying out of pocket costs for damages incurred as a result of an accident that was either partially or completely your fault. You put your assets, such as your home, at risk if you become embroiled in a lawsuit.
Liability insurance is required by law in most states and is the most important type of coverage that you need. Each state sets the minimum amount of coverage that a driver must maintain on his or her auto insurance policy.
The basic liability coverage includes coverage for bodily injury liability, medical payments, and property damage liability. It’s likely that the minimum requirement of property liability coverage for your particular state will not be enough to cover any substantial damage done if you’re in an accident. So, it’s a good rule of thumb to increase the amount of that type of coverage.
Learn about more types of auto insurance coverage
In addition to property damage coverage, your auto coverage will include bodily injury liability coverage. Again, the minimum coverage required by your state may not be enough to protect your assets in the event of an accident.
Therefore, it’s very important to work with an experienced insurance broker to ensure that you are thoroughly covered for liability if you are fault in an accident. Independent insurance broker, Daniel Fraisse, focuses on fitting the insurance policy to his clients’ coverage needs as well as financial situation. Dan has been providing insurance services to his clients for over thirty years, and is well-versed with regards to insurance carriers, policy options, and California insurance laws.
Dan is very knowledgeable about all of the different — liability, collision, and comprehensive, to name a few. He’ll make sure that you get the most coverage at the best insurance rates possible. Dan works for you, not the insurance companies.