You might not realize it, but your car might face damage risks even when you are not driving. A tree might fall on it during a storm, a sudden fire could break out when you turn on the ignition, or someone might steal or vandalize it. These could be costly and inconvenient losses. That’s why car insurance policies can often pay for your recovery costs. If the policy contains comprehensive auto coverage, then you’ll have a way to address the cost of repairing or replacing your car following non-accident hazards.
Some people think comprehensive coverage is an unnecessary expense to add to an auto policy. Yet, it’s critical coverage for almost any driver, particularly those with new or financed vehicles. Auto Insurance Discounters can help you gain this essential protection without losing a lot of money. Keep reading to learn more, give us a call at 866.288.6545 or get a quote now on coverage of your choice.
Common Comprehensive Insurance Questions
What does comprehensive car insurance cover?
Comprehensive auto insurance will cover damage to your car when it comes from a hazard that is not related to a wreck. Policies might cover the costs of damage resulting from:
· Vehicle fires
· Falling objects
· Severe weather
So, if a tree falls on your car during a storm, then this coverage can pay for the costs to repair or replace the vehicle. You won’t face significant financial challenges to afford the costs of your recovery.
Is comprehensive coverage full coverage?
Comprehensive auto insurance will not pay for every type of cost arising from wrecks or other mishaps. The policy will only pay for your own vehicle damage, and it will only compensate you for damage that comes from a hazard other than a wreck. It is just one of many types of coverage that your car insurance should contain. Alongside comprehensive coverage, you will likely want to buy liability insurance, collision insurance, medical payments coverage and other perks.
Is it worth having comprehensive insurance?
If you can’t afford the repair costs of vehicle damage, then you are setting yourself up for a situation where you can’t get around safely or easily. By having comprehensive insurance, you can ensure that you can have your vehicle repaired without a significant personal loss. You’ll save yourself a lot of time, money and inconvenience by having this resource available.
How much comprehensive coverage should I get?
If you choose to finance your car when you buy it, then your bank might require you to buy comprehensive coverage. You should therefore buy coverage in line with their requirements. However, even if you don’t have to carry coverage, you can still benefit from it.
· When you need to repair vehicle damage, most comprehensive policies will pay you for the cost of your damage minus the cost of the policy deductible. Therefore, you’ll lessen your own cost burden for repairs. Damage costs that are less than the cost of your deductibles will not have coverage, however.
· If damage totals your car, then most comprehensive policies will settle with you based on the car’s actual cash value (ACV). This is the depreciated value of a car at the time damage occurs. An ACV settlement might not equal the full price of a new car or an outstanding loan. However, some policies will pay the car’s replacement cost value.
· Vehicle owners who have a car loan might also benefit from gap insurance. The gap insurance will help you pay off the value of a car loan when damage totals the car. It will pay the difference between a cash value settlement and the remaining car loan.
How much does comprehensive coverage cost?
In Missouri, it will usually only cost an extra $180 - $200 per year to add comprehensive coverage to your policy. Divided into monthly payments, this added expense is usually quite affordable. Given that the average cost of comprehensive damage claims was more than $1,800 in 2018, it is much easier to plan to pay for coverage than to pay for sudden, uninsured damage repairs.