Automobile Physical Damage Insurance

Automobile Physical Damage Insurance

An insurance policy providing coverage for personal and property damage caused to one's car. Events covered under automobile physical damage insurance may include vandalism, harm from weather, and car accidents. One may purchase this insurance on its own or as part of a more comprehensive policy. It is also called automobile collision insurance. See also: Car insurance, Automobile Liability Insurance.
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References in periodicals archive ?
The proposed rule should reduce costs to insurers overall for the administration, processing of paperwork, operations and underwriting of automobile physical damage insurance. These savings ultimately should be passed on to consumers.
The traditional division of automobile physical damage insurance into collision and comprehensive is maintained in the personal auto policy, but without any mention of the word "comprehensive." If "other than collision loss" coverage is indicated in the declarations of a personal auto policy, any damage to the covered auto besides collision is covered on an open perils basis--subject to any deductible listed in the declarations, to the insuring agreement's stipulation that damage be "direct and accidental" and, of course, to any applicable exclusions.
Along the way the Company has developed several innovative products for the marketplace including for-hire vehicle physical damage insurance, private passenger automobile physical damage insurance and in 2009, a standalone policy providing canine legal liability insurance.

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