What is the minimum property damage liability per accident?

What is the minimum property damage liability per accident?

• A. $15,000
• B. $25,000
• C. $20,000
• D. $30,000

Answer: (C)

Property damage liability per accident is the maximum amount your insurance will pay to others for damage to their property in one crash. It doesn’t cover damage to your own bike or injuries to people—that’s a separate part of your policy. In Oregon, the minimum required property damage liability per accident is twenty thousand dollars. So this choice reflects the least amount the state requires the insurer to cover for property damage in a single crash. If damage exceeds that limit, you’d be responsible for the excess, assuming no higher limits are purchased. For example, if a crash causes twenty-five thousand dollars in total property damage, the insurer would pay up to twenty thousand, and you’d be liable for the remaining five thousand.

Property damage liability per accident is the maximum amount your insurance will pay to others for damage to their property in one crash. It doesn’t cover damage to your own bike or injuries to people—that’s a separate part of your policy. In Oregon, the minimum required property damage liability per accident is twenty thousand dollars. So this choice reflects the least amount the state requires the insurer to cover for property damage in a single crash. If damage exceeds that limit, you’d be responsible for the excess, assuming no higher limits are purchased. For example, if a crash causes twenty-five thousand dollars in total property damage, the insurer would pay up to twenty thousand, and you’d be liable for the remaining five thousand.