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Why You Should Carry Higher Property Damage Limits

Get_the_highest_property_damage_limit_possible_to_cover_yourself_properly_with_personal_insurance_from_Andrew_G_Gordon_Inc_MAProperty Damage liability pays for damages you cause to someone else’s property, including their car, building, fence, or other property.

Property Damage is one of the four compulsory limits of insurance you are required to carry by the State of Massachusetts.

The compulsory limit for Property Damage that is required by the state is $5,000.

$5,000 in this day and age is just not enough coverage.  With the increase in the amount of luxury cars on the road today, property damage cost are always increasing.

If you had an accident today with any one of these luxury cars, some of these cars are over $100,000 in value.  Say the accident totaled that vehicle.  Your policy would pay out the limit of Property Damage listed on your Mass Auto policy.  If you do not have enough coverage in your policy, then you are responsible to pay the difference out of your pocket.

Or say you caused a multi-car accident, again your policy would only pay out what limit of coverage that  is shown on your policy. You could run into the same scenario where you are responsible to pay the difference out of your pocket.

A way to avoid paying out of your pocket is to carry at least $250,000 in Property Damage coverage. The increase in policy premium is minimal, in most cases, less then $50 a vehicle.  Which compared to the alternative, I’m sure you will agree, is money well spent.

Contact us with any insurance questions, and check out some previous blogs about property damage limits.

-Why Increase Property Damage Limits

-Property Damage for Auto Insurance: Should I Increase My Limit?

-Auto Policy: Property Damage Coverage

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