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Does Homeowners Insurance Cover Car Damage?

I am certain that you have purchased auto insurance along with your car. This is why you may think that your homeowners insurance wouldn’t cover for any damage to your car. However, if the damage to your car happens when it is safely parked in your garage, your home insurance may cover it. Your car is an extension of your home so you can still reexamine your homeowners insurance to see if it protects you against car damage.

Comprehensive Auto Insurance

In most cases, your automobile insurance will cover for any damage that happens to your car. With the comprehensive auto insurance coverage, your vehicle remains protected even if it is parked in your garage. However, comprehensive coverage is not mandatory by law, so not every vehicle owner has this coverage included. So, if you don’t have of the comprehensive insurance and just have a third-party liability-only coverage, you may need to use your home insurance for additional coverage. Bear in mind, that if you are leasing or financing your vehicle, you most likely have full coverage car insurance, which includes comprehensive coverage.

Luxury Car Coverage

If you have decided to buy a luxury car, it is most likely that you have also got a corresponding insurance policy for it. Compared to regular vehicles, luxury cars are more prone to theft. If your luxury car happens to be stolen inside your property, you can supplement your auto insurance with your homeowner’s insurance policy.  However, your policies may not be able to cover for the cost of your luxury car, which is why it is best to supplement it with an umbrella policy.

Homeowners Insurance for Car Parked in Garage

Your automobile insurance will cover the damage to your car. However, if the damage happens inside your property, your home insurance may be able to cover for the damage. This type of policy can help pay for any excess costs that you may incur if your car is damaged. For example, if your car has been vandalized while parked in your home, your home insurance may cover it. This is because the damage occurred on the premises of your property.

If you have decided to park your vehicle outside and a tree falls on your car, your home insurance or your car insurance may be able to cover for the damage. In the event that your car is stolen while parked in the property, you can check with both your car insurance and home insurance to see if the coverage is sufficient to cover for the cost of the lost car. 

If there are items stolen inside your car while it is parked in your garage, you can also file for compensation against your homeowners insurance.  Stolen items inside your car may also be covered by your homeowners insurance policy based on what is stipulated in the coverage. You should check the coverage limitations and exclusions to check on what is included and not included in your policy. There are times when your insurance policy can cover for a percentage of the stolen items, like your laptop and other electronic devices or your luxury bag, inside your car even if they are not parked at home. 

It is important to note, however, that your homeowners insurance policy must specifically include your garage. Otherwise, this may not cover the damages sustained by your car. There are homeowners insurance policies that don’t cover detached garages and outbuildings. 

Moreover, you should go through your policy and make sure that the insurance policy states that the contents of your home are part of your coverage. Once your car is parked in the garage, it is considered as part of the contents of your home.

Homeowners Insurance Deductible

If the damage to your car is minimal, it is best to take your insurance policy out of the conversation, since your damages might cost less to repair than your deductible amounts. However, if the damage is too severe, you may consider filing an insurance claim.

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