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What is Comprehensive Insurance?
Comprehensive insurance helps pay for repairs or may replace your vehicle in the event it is stolen or damaged by a non-collision crash. if you own your vehicle outright, this coverage is optional. However, if you are leasing or financing a vehicle, lenders typically require you have comprehensive insurance.
What is Covered with Comprehensive Car Insurance?
Comprehensive car insurance covers your vehicle in events not caused by a collision. This includes:
- Animals like deer
- Fallen objects like tree branches or debris
- Glass and Windshield Damage
- Storms, hail, floods, wind, lightning, and earthquakes
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What’s Not Covered by Comprehensive Automobile Insurance?
- Damage to your vehicle as a result of a collision
- Damage to another driver’s vehicle as a result of a collision
- You or your passengers’ medical expenses
Comprehensive includes a deductible, which is the amount you pay out of pocket.
What’s the Difference Between Comprehensive and Collision Insurance?
Comprehensive car insurance helps to cover you by paying for any damages not caused by a collision or basically accidents that are out of your control. Collision insurance, on the other hand, will pay for repairs if your vehicle hits another object, including a car, tree, or pole. It also covers you if you’re involved in a single rollover crash.
How Comprehensive Car Insurance Works
When you purchase comprehensive car insurance, you set a deductible. That’s the amount paid out of pocket toward a claim. For example, if a deer hits your vehicle and $1,500 is needed for repairs, and your deductible is $500, you would pay $500 and your insurance would cover the rest.
Comprehensive insurance also has a limit on the amount paid toward a claim. This is typically the actual cash value of your vehicle. So if your vehicle is stolen, your policy would reimburse you for just its depreciated value.
Do I Need Comprehensive Auto Insurance?
There are several factors to consider when choosing car insurance. Here are a few:
- How old is your vehicle and what’s its value? – If your vehicle is new and higher in value, this coverage could save you from paying out of pocket.
- Where you live – Do the neighborhoods you frequently drive through or freeway you take often have falling debris or a wildlife presence?
- The amount you have saved – If your vehicle was stolen today could you afford a replacement? And if it was damaged, how much out of pocket expenses could you afford right now?
Comprehensive auto insurance covers you in events collision insurance won’t, which is why having both is helpful. If your wondering if having both types of coverage is necessary for you, Signature Insurance Group can help. Our agents are knowledgeable about all types of auto insurance coverage and the factors you should consider before purchasing insurance. Contact SIG today for a quote!
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