subject: Importance Of Property Damage Liability Coverage [print this page] Most motorists tend to focus more on liability coverage that covers bodily injuries; they forget that they also have to worry about possible property damage as well.
Sometimes, the amount of damage to properties even exceeds that of the treatment for personal injuries.
So aside from personal injury liability coverage, all drivers are also advised to get a substantial amount of property damage liability coverage as well.
Definition
Property damage refers to the destruction of a public or private property.
It can either be caused by a person or natural phenomena.
Property damage caused by humans is generally classified by its cause.
The first classification is caused by neglect that includes human error and carelessness. This usually covers car accidents that cause property damage.
The second classification is intentional damage. Property damage under this classification is often malicious in nature.
Property damage liability is a type of coverage that pays for the damages to the vehicle/s and other possessions of the other party if the car accident was your fault.
It is important to note though that it does not cover intentional damages.
Intentional property damage is also considered a form of violence, thus is also a criminal act.
Property damage liability only covers accidents that are caused by human errors that have no malicious intent on your part.
Once approved by the insurance company, your property damage liability coverage should pay not only for the labor and parts cost related to repairing the car of the other party, but also for the valuables damaged inside the car during the accident.
Another important note is that property liability insurance does not cover damages to your own car during an accident.
You can claim for damages to your car from the other partys insurance company if they are the one at fault.
If the other party does not have or have insufficient coverage, then you can make a claim for uninsured or underinsured motorist coverage under your own insurance policy.
Who needs Property Damage Liability Coverage?
Everyone. Just like personal liability coverage, most states also require drivers to purchase property damage liability coverage as well.
Most states require a minimum of about $5,000 coverage, but personal injury lawyers would recommend that you get a higher amount if you can.
The reason for that is if your liability coverage is insufficient to cover the property damage, the courts may go after your own assets to cover the excess costs.
This could leave you in deep financial debt and even lead to bankruptcy.
Consulting a Lawyer
Before admitting to any fault you should first consult with a property damage attorney to review your case.
This is to decide whether it is really you who is at fault; because sometimes we may feel that it is our fault only for the investigation to show otherwise.
This will help in preventing your insurance premiums from going up as it proves that you are not a high risk driver even with the accident.
by: Mark Dacanay
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