What You Should Know About Comprehensive Auto Insurance

December 5, 2016 · Posted in General Articles on Car Insurance 

What is comprehensive auto insurance? Basically, it is coverage for your car which goes beyond just the scope of damage caused by a collision. So, you can claim for damage that is caused after the actual accident. It is worthwhile to have this type of coverage because the damage caused in the actual collision is rarely all that you will have to pay for.

This policy does not cover any items that may have been in the car at the time of the event. What is covered though, which is not covered by standard auto insurance policies, is damage caused by fire, theft, vandalism, wind, falling objects, floods, etc.

As for vandalism and theft, there are some rules regarding comprehensive auto insurance. Most policies do not cover this if the incident was caused by employees or family members. Extensions are available for covering vehicles that are not yours and may belong to an employer. This type of coverage is usually limited. Reading about the policy and gaining help through a local insurance provider could answer any questions you may have about what is covered.

How much you have to pay for comprehensive coverage is dependent on a range of financial and personal factors. There are several instances where the cost may be increased. Ages of drivers on the policy is taken into consideration as too young of drivers and older drivers are often given higher premiums. The make and model of car is another major factor which insurance companies consider when deciding how much you have to pay. The area where you live and the distances to and from work is considered as important and may result in a higher policy.

There is a way to reduce the overall premium for comprehensive and collision coverage together. If you increase the deductible amount then the cost of your policy will be lower. Increasing the deductible amount is a risk in itself though as, unless you have enough money set aside, you will have to wait and save up in the event that your car is badly damaged, as the insurance company will not pay out until you provide your share.

Possessing comprehensive coverage on your vehicle is recommended for peace of mind. Isn’t it worth it to know that your car is safe in many situations? If you decide that comprehensive coverage is the right coverage for you then you need to contact some insurance companies to get some quotes. The sooner you do so the better, as you never know when something unfortunate may happen.

 

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