There are so many types of insurance that it can get quite mind – boggling at times, we hear you! The information you are about to read will clear the fog about comprehensive insurance and help you decide whether it is right for you.
Collision coverage is the most popular type of coverage; comprehensive comes in a close second. It is optional, and an option many do choose because it makes them feel more secure while driving.
Comprehensive Auto Insurance Coverage: The Facts
It differs from collision coverage – Most people make the mistake of assuming that if they get comprehensive coverage, it includes collision coverage as well. It does not. Collision coverage is compulsory in most places; comprehensive is not. Comprehensive coverage covers a lot of situations but not collisions.
It protects you in so many scenarios – Comprehensive coverage will protect you in these circumstances among others: vandalism, theft, damage by flood, animals, or fire. If you live in an area famous for natural calamities or those with a high incidence of crime, this policy would be the perfect choice for you.
Older vehicles – If your older vehicle is a collector or vintage car, then it is worth getting this coverage, otherwise not. If the car is too old then it does not really need this extra band of protection and you will be wasting your money. If you have a collector car you should seek out a company that specializes in them and this will yield you the best offers and deals, saving you much money.
Vehicles on lease – Comprehensive insurance is usually mandatorily required with leased or financed vehicles.
Newer vehicles – If you have splurged on a brand new or even a gently used car, then it would be worth your while to consider getting comprehensive insurance to protect your purchase.
Read carefully – Please read your policy carefully and don’t hesitate to ask questions. Policies differ and you must be sure which situations your particular policy covers.
It is easy to get – All you have to do is enter your zip code in the space provided and a whole slew of quotes will come up. You must choose carefully after doing a proper comparison. Yes, you can get comprehensive insurance with many companies but you will ensure more savings for yourself if you get all areas covered with one company. Bundling of services is always a winning strategy in that respect, and your policy will be easier to manage.
Keep all your basic information handy as you will be asked for it in order for quotes to be furnished to you. Always be honest, know your needs and your budget. You will be matched with the companies that best suit your requirements. It is up to you to pick the best based on price and coverage.
Choose the highest deductible you can possibly afford. The hope is that you will never have to pay it. (We wish for all accidents to cease!) But what happens when you do this is your premium goes down and you end up saving hundreds in the long run.
Have guidelines for yourself before you start this process. Don’t ever fall into the trap of getting too much insurance or too little. If the price is too low, it should raise a red flag for you. Caveat Emptor or Buyer Beware as with any other purchase.
Finding the right insurance to suit you and your family and lifestyle is always key. It is important to make sure you are well covered. Do your research as knowledge is power. And drive safe always.