In my experience in both Connecticut (a relatively affluent state with expensive vehicles) and Ohio (an average state with average vehicles), $50k in property damage liability coverage will work for 99.5% of all accidents. Sure you could rear-end an exotic car or drive through the wall of a building, but your most serious realistic exposure is causing a tractor-trailer truck to wreck or causing a multi-vehicle accident.
Does my auto insurance cover property damage?
According to the auto insurance website The Zebra, most property damage liability policies cover these expenses for the other parties involved if you cause an accident: You cannot use your property damage liability policy to cover damage to your own property or vehicle.
How much property damage liability insurance do I Need?
For example, in California, drivers are required to have at least $5,000 of property damage liability coverage. In Texas, the minimum amount for property damage liability coverage is $25,000. In Nevada, it's $10,000. A limitis the maximum amount your policy will pay for a covered claim.
How much is a property damage claim?
The average property damage claim is generally a few thousand dollars — much less than bodily injury liability coverage. However, you should consider higher property damage limits to ensure that you are sufficiently protected in the event of an accident. The more property damage coverage you buy, the cheaper it is.