Property Damage Coverage – Auto Insurance
Posted in News & Updates
I hope you are enjoying the start of the spring season!
Property Damage Coverage (Part 4) of your auto insurance policy is one of the most important parts of the policy. If you’re responsible for an accident, Property Damage Coverage will take care of the cost of repairing or replacing another person’s property. This typically means damage to someone else’s car, but it could apply to any other type of property you damage in an accident. Like bodily injury coverage, property damage coverage helps to ensure that any driver will be able to assume some financial responsibility for damage caused in an accident where they are deemed at fault. This type of coverage operates on a per accident basis, with the insurance company willing to cover costs up to the amount of your coverage.
Examples of what is covered:
- Repairs for damage caused to the other party’s vehicle, including auto body shop labor or replacement parts.
- Fixing up damage or destruction to other businesses, houses, fences, lampposts, mailboxes, etc.
We recommend that you have coverage at a minimum of $200,000 for this part of your auto insurance policy.