This coverage pays to repair your car after an accident (even if the accident was your fault). The premium is based on the value of your car. There are no “minimum” or “limits” but premiums differ based on the deductible you choose. You pay your deductible ($250, $500, $1000, etc.) & your insurance pays the rest to fix your car completely.
This coverage should always be bought if your car is worth $5000 or up.
If you are “bad” driver who get into “minor” accidents, then get this coverage with lower deductible (ex. $100 or $250).