Most drivers wonder if car insurance covers parked cars. This is because parked cars tend to get damaged more than moving cars in different events. Your auto insurance can cover parked car damages in different cases. Purchasing parked car insurance covers your parked car in any location and covers the financial expenses if ever your parked car gets damaged.
However, the coverage you will get depends on the event and damages to your car as well as what coverage you purchase. For instance, if your parked car gets hit and the at-fault driver stays, the damages to your car would be covered by the at-fault driver’s liability insurance coverage. In cases where the at-fault driver is a hit-and-run driver, the damages made to your parked car would be covered under your uninsured or underinsured motorist coverage.
An important thing every car owner needs to know is the type of coverage that plays out after your parked car has been hit by a different driver. This write-up has been written to give you insights on how parked car insurance works.
What is Parked Car Insurance?
Parked car insurance, also referred to as comprehensive insurance, provides protection against specific risks while your car is parked. It offers financial coverage in case your parked vehicle is damaged, vandalized, or stolen.
This insurance is not a must, but car owners should get this coverage over their cars to give them extra protection.
Why do I Need it?
Choosing not to insure your parked car can put your car at risk in different ways. This includes:
- Your parked car may sustain damages by another driver.
- An interruption may occur in your insurance history, which may affect the cost of your premium.
- Protection from fire-related damages.
- You may face fees and penalties.
- A change in your financial status may occur.
These reasons and more are why you need to get parked car coverage for your car.
What Does Parked Car Insurance Cover?
This insurance offers financial protection for different levels of risks caused to your parked car. These risks include:
- Fire.
- Weather damage.
- Falling objects.
- Theft.
- Vandalism.
- Rising water.
Other risks may be covered under this insurance policy. To know what your this car insurance covers, you need to read through your insurance policy documents.
How Much Does it Cost?
Parked car insurance is generally more affordable than other car insurance policies. To be a legal driver, you need to have third-party liability coverage, uninsured motorist coverage, and DCPD insurance coverage. To know how much this insurance costs, you need to check with your car insurance company.
What are the Benefits?
Various benefits come along with this car insurance. These benefits are:
- Damage prevention.
- Snowbirds.
- Savings.
- Â Peace of mind.
With these benefits, you do not need to be bothered about financial expenses after your parked car gets damaged.
What Type of Insurance Covers Parked Cars?
Depending on the event when your parked car gets hit by another driver, you may be covered by one of the different types of car insurance coverage. These types of coverage include the at-fault driver’s property damage liability insurance, as well as your own collision coverage or uninsured motorist property damage coverage.
In some cases, the damages to your parked car may be covered by comprehensive coverage if caused by something other than a different driver. The following are insurance coverages that may cover damage.
Comprehensive Coverage
This insurance coverage, also called other-than-collision insurance, covers theft, vandalism, broken glass, and damages due to natural disasters. If your car sustains damages due to a storm causing a tree to fall on your parked car, comprehensive coverage may cover your car repairs without adding your deductible.
Collision Coverage
Collision coverage can help pay for repairs to your parked car if it’s damaged. Additionally, if you accidentally hit a parked car, your collision coverage will cover the damage to your own vehicle, though your deductible may still apply. But in cases where it is your parked car that gets damaged due to a hit-and-run, you may be covered by your collision coverage.
Property Damage Liability
This insurance coverage covers damages you cause to someone else’s car due to an accident or collision. Your property damage liability insurance coverage covers damages you make to someone else’s parked car.
Uninsured Motorist Property Damage Coverage
If your parked car gets damaged by a hit-and-run, your UMPD coverage will cover damages to your car due to that event. This coverage kicks in after the hit-and-run driver is found and discovered to not have insurance coverage.
