As I was making my normal drive into the office this morning I saw a significant accident off to the side of the highway. For all of you making that 580 West commute with me in the morning, this is almost an everyday occurrence. As I saw the two cars smashed, and the guard rail obliterated, I naturally said to myself "I hope the person at fault has good property damage coverage".
It is pretty common as I have this conversation with clients on a daily basis, that most people don't really understand what property damage actually covers and what you are likely to be sued for in an accident.
So here is the Relevance of this coverage and why it is important. It covers all property that is damaged; meaning all Autos, (Think of the 4 car pile up that you are at fault for when you rear end the 1 car in front of you), the guard rail, the street sign, the bus stop, the landscaping, basically anything and everything that is damaged. And don't worry, the city will definitely find you quickly and bill you for all of these things.
So what is your coverage limit, 25K, 50K, 100K? How fast would that money be exhausted if you damaged a couple luxury cars on our Bay Area roads and some city or private property? Realize that once your insurance coverage is exhausted you will be personally sued for the rest.
Don't risk wage garnishment and liquidation of all your assets because you saved a few dollars a month on insurance. There are a handful of vital coverages on all insurance policies that really save you from life changing events. If you are not sure which ones those are, please call me @ 888-992-9491.
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