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Many states require you to carry both Property and Bodily Liability Insurance, these policies help to cover damage and injuries you cause. Property damage liability insurance can help pay for repairs if you destroy another person’s belongings (e.g., vehicle, house, office, store, trees, signs).
Examples of how property damage insurance can help:
Be aware, this coverage doesn’t pay for damage to your own car – Collision Coverage will cover your vehicle.
Property damage liability is required by law in most states. State car insurance minimum limit laws vary but do not have maximum amounts, which means you can increase your limit how you see fit. This can help make sure you’re fully protected if the property damage exceeds your state minimums.
Choosing more liability coverage than you’re legally required to have is generally a good idea, and a popular one. On average, over 50% of customers choose more than their state’s minimum limits for bodily injury, and over 60% of customers choose more property damage coverage than their state requires.
If you have a high net worth, it might be worth taking out an auto policy with a CSL for both bodily injury and property damage. CSL amounts usually range between $300,000 and $500,000. Premiums for a CSL policy are higher, but your coverage limit can be divided in whichever way necessary to satisfy a claim against you.
Increase your protection on the road by adding other types of liability insurance to your policy, like:
