Property Damage Liability Insurance
What is Property Damage Liability Insurance?
An abstract of title lists and records ownership history for a particular piece of real land. Typically, it will contain documentation
Property damage liability insurance pays up to the policy limits for damage you cause to someone else’s car. Most of the time, it will also cover the things in the car, not just the vehicle itself.
In Georgia, you have to have at least $25,000 in property damage liability insurance. This covers the entire accident. It doesn’t matter how many people or vehicles are involved or how many people are hurt. You are required by law to have this insurance because Georgia is a “fault state.” This means the at-fault driver is responsible for the damages and injuries they caused.
and details pertaining to at least the last 50 years of land ownership. A property’s restrictions or claims, such as easements, loans, mortgages, liens, real property taxes, and more, will also be listed in an abstract.
When you buy a property, you must have a full abstract in order to purchase title insurance. Nevertheless, depending on what the buyer or seller requires, many buyers and sellers will just complete a “limited certificate of title,” which covers a duration of less than 50 years. Before they will lend money or carry out any work on a property, lenders or developers will occasionally need this paperwork.
What Does Property Damage Liability Insurance Cover?
Damage to another vehicle is the most common property damage liability insurance claim. But damages to the following things can also be covered by this type of insurance:
- Property damage to items inside a vehicle
- Rental car costs
- Damage to buildings, mailboxes, or other items not related to the vehicle
After an accident, the at-fault driver’s car is not covered by property damage liability insurance. However, it is used if you have damaged someone else’s property or belongings.
Differences Between Property Damage Liability Insurance and Physical Damage Insurance
There may be more than one kind of property damage coverage for your car. For example, damage to someone else’s car is covered by property damage liability insurance, while damage to your vehicle is covered by physical damage insurance.
In Georgia, two kinds of insurance cover physical damage:
- Collision Coverage: Collision coverage helps you pay for your own damage to your car, no matter who’s at fault in an accident.
- Comprehensive or “Other Than Collision Coverage”: This covers other property damages like vandalism, fire, or theft.
Some insurance plans offer all these coverages, while others only cover one or two. A driver with the bare minimum liability coverage usually won’t have comprehensive or collision coverage, but this isn’t always the case. The type of insurance you have is written in your insurance policy.
What Happens if My Car is Totaled After an Accident?
Property damage liability coverage will pay to fix your car up to the policy’s limits. But sometimes, your car is a total loss, and it would cost more to fix than it is worth. In that case, the other driver’s property damage liability insurance should give you the money you need to replace your car. In these situations, you may be able to buy a new car, or your insurance company may give you money equal to the value of your old car.
Contact the Personal Injury Lawyers at The Brown Firm
If you have been injured, the experienced personal injury attorneys at The Brown Firm offer free consultations to accident victims in Georgia and South Carolina. Call 800-529-1441 to speak with our personal injury team today!
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