Auto Property Damage Insurance

Commercial auto policies cover both property damage and physical damage due to business vehicle use.

Auto property damage insurance. Property damage insurance is the portion of your auto insurance coverage that insures the property of other people that your car damages in an accident. Property damage claims related to auto accidents come in many shapes and sizes and different states have different laws governing claims. If your car collides with someone else s vehicle or property your property damage liability policy funds the repairs up to the policy s limits even if you live in a no fault state. Is part of a car insurance policy.

This coverage pays for the damage to the other people s vehicle or other property. Commercial property insurance protects your business property and is often bundled into a business owner policy bop. Most often it s paying to repair other person s vehicle but it could also pay for damage to a garage door a mailbox a bicycle a fence or all of the above if you really go on a rampage. The limits on the property damage coverage dictate the maximum the insurance company is willing to pay out as the result of any single accident.

Learn how this coverage can help. Instead property damage claims are generally filed as third party car insurance claims where you or another person make an insurance claim against the insurance policy of the person at fault. Property damage liability insurance is required by law in most states although some allow you to decline this coverage if you have enough assets to pay for possible damages. Property damage liability insurance covers the cost of damages to someone else s property after an accident you cause.

Property damage insurance by liberty mutual can protect you if your car damages someone else s vehicle or property. You do not necessarily have to buy car insurance according to the dmv virginia law requires that all drivers have a way to pay for injuries or property damage resulting from a car accident. Virginia has special conditions around car insurance. It helps pay to repair damage you cause to another person s vehicle or property.

These are the virginia minimums. Property damage liability insurance coverage. Property damage liability coverage is required by law in most states. A property damage claim is a report or evidence that you submit to an insurance company in the event your property has been damaged.

Property damage liability is the often overlooked part of your car insurance that pays for damage to other people s property from an accident you re responsible for. Minimum car insurance is one way to meet this requirement.