Introducing Evertree Mountain States
As a car owner in Arvada, CO, your auto insurance likely has two kinds of liability coverage: bodily injury liability coverage and property damage liability coverage. While bodily injury liability coverage seems straightforward, understanding property damage liability insurance is more challenging. Here’s a breakdown of property damage liability coverage?
What Is Property Damage Liability Insurance?
Property damage liability insurance provides coverage to pay for repairs and replacement of other people’s property, including cars, if you hit them with your vehicle. For example, if you hit someone’s fence, house, or car with your vehicle, this coverage will cover the cost of repairing or replacing the property. Property damage liability insurance is a must-have in 48 states in the USA.
How Will This Coverage Help You?
- Property liability coverage will pay for the repairs to another vehicle if you rear-end it while in traffic.
- Additionally, it will replace your friend’s mailbox if you crash into it with your car while pulling into their property.
- Moreover, it will pay for the damage you cause to a storefront if you set your vehicle into drive instead of reverse.
How Much Property Damage Liability Do You Need?
You can’t be sued after property damage for settlement beyond your net worth. Therefore, Evertree Mountain States recommends getting property damage coverage equal to your net worth. This will mean you will be protected from going bankrupt because of a settlement resulting from property damage liability.
What About Umbrella Insurance?
If it’s not feasible for you to get property damage liability equal to your net worth, you should go for umbrella insurance. Umbrella insurance will cover property damage beyond your auto insurance policy limit. If your auto insurance only pays for property damage amounting to $100,000, your umbrella insurance will pay for additional liability.
Do you need auto or umbrella coverage in Arvada, CO? Contact Evertree Mountain States today.