You did not mention what type of damage, but i will assume body. Unless you requested for them to put full coverage on the car before the incident, then nothing happens.
you are because your the vehicle owner
NO, liability covers damage you do to someone else's property. Comprehensive insurance covers damage to your vehicle by someone else. If you have no comprehensive, then you will need to look to their insurance for recovery of damages.
Property damage on the vehicle or someone else's vehicle?
If the vehicle has insurance it will cover damage to the other vehicle but not the one you are driving. Now if you have insurance on another vehicle your insurance will cover the damage to the vehicle that you where driving even though it is not on your policy.
If it is relative to an auto insurance policy, it for property damage caused to someone else's property. You or someone in control of your vehicle causes damage to anothers property, could be another vehicle, or some other type of property. ( personal liability/property damage) Coll would mean damage to your vehicle due to collision, and Comp would mean your comprehensive coverage for your vehicle for damage due to things like hitting a deer, or hail damage for example.
your car is wrecked and your kid is grounded.
No harm, no foul. If there was no damage and both parties agree, you can go about your day.
The primary insurance would be the policy that insures the vehicle.
Yes. Collision coverage pays for damage to your vehicle, minus the deductible, regardless of who is driving it. Also, if you loan your vehicle to someone they are considered a permissive driver and you are liable for damage they cause in your vehicle even if they have their own insurance. Insurance always applies to the car not the driver.
Because if the vehicle can not stop it will hit things and cause damage and injury. Indeed it could kill someone.
If an accident occurred, it is not uncommon to find damage after the fact. Even in slower collision, there can be damage underneath the bumper of the vehicle. Happens all the time. In those circumstance, the party at fault can choose to either pay out of pocket for the damage or file the claim with their insurance company.
If the object came off the other vehicle there liability coverage will pay for the damage. If it came off the road and was just kicked up by their vehicle then they are not liable for the damage. In that case it is called road hazard and would not be covered by the other parties insurance. Your insurance will pay for it if you have physical damage coverage on your vehicle.