Does your insurance cover you hit a parking lot?

Damage liability insurance will not usually cover your car if it is damaged while parked. Your damage liability is not intended to pay for damages to your own vehicle, but the to damages that are caused by your to the property of someone else. Whether your car is on the highway or in a parking garage, basic property damage liability insurance will not be much use at all, but there are insurance options available to protect you.

On the other hand, if you live in a state that requires no-fault insurance, your vehicle will be covered. No-fault insurance means that your insurance will cover the costs of vehicle damages and then attempt to recoup the costs from the guilty person's insurance company if one is available. In essence, no-fault coverage insures the car it purchased for, and includes property damage which cannot be attributed to any particular at-fault person.

Without no-fault coverage, you can rest assured by purchasing a collision insurance rider for your auto policy. Collision coverage is meant to repair your vehicle if it is damaged by someone else, whether you are present at the time or not. While collision coverage may not be economically feasible for older cars, it can save you hundreds or even thousands of dollars in damages on newer model cars.

Additionally, some insurance companies will honor the claim if you have uninsured/underinsured insurance coverage. Having your car hit while it is parked is considered a hit and run accident, and the lack of an at fault person is tantamount to saying that the guilty party was not insured at the time of the accident. Be sure to get a police report to make filing the claim faster, and check the area for possible witnesses or video cameras that may reveal who hit your car.