Comprehensive car insurance compensates you for damage or even allows dollar reimbursement of a totaled automobile if it is damaged by something other than a car accident. Possible harm that may be covered by comprehensive insurance may possibly include wind, flood, earthquake or weather damage of other types, or commonly random events for which the driver can't be held accountable. If you have a lien against your car then you will have to buy comprehensive insurance as a requirement.
Countless financial institutions request that borrowers hold comprehensive coverage for the duration of the loan. People who have purchased moderately expensive cars or luxury vehicles without a loan may still want to purchase comprehensive coverage to protect their investment. Price ranges for comprehensive insurance are so variable, that it's difficult to place a number on it.
The price can be brought down in a couple different ways. Comprehensive policies always have deductibles that have to be met. So compensation for the damage to your motor vehicle kicks in once they surpass the deductible expense.
$250 US and $500 US for each claim are the most common amounts for deductibles. Lower deductibles will result in higher premiums. A benefit to smaller deductibles is that several body shops might not claim them if they have to do major repairs on your car.
Before you decide to go with the higher deductible just remember that if the time comes you will have to produce that amount of cash. If you have the funds for a bigger deductible, it could make sense to opt for one and bank money on your comprehensive coverage. Additionally, you should consider the value of your car.
If the car note is paid off and the value of the car isn't worth it then carrying comprehensive insurance might not be of value to you. It may not be wise to buy comprehensive insurance for a vehicle that is only worth a couple thousand bucks, since you could pay more on the payments than you would to repair the vehicle. Normally when you buy full coverage insurance both comprehensive and collision are part of the package.
Comprehensive auto insurance covers theft, fire, vandalism, weather damage, riots, missiles, and other similar circumstances which may cause damage to a vehicle. Acts of God, theft or vandalism by family members or employees, contents inside the vehicle, tires, or damage because of improper maintenance are not covered by comprehensive insurance. - 15275
Countless financial institutions request that borrowers hold comprehensive coverage for the duration of the loan. People who have purchased moderately expensive cars or luxury vehicles without a loan may still want to purchase comprehensive coverage to protect their investment. Price ranges for comprehensive insurance are so variable, that it's difficult to place a number on it.
The price can be brought down in a couple different ways. Comprehensive policies always have deductibles that have to be met. So compensation for the damage to your motor vehicle kicks in once they surpass the deductible expense.
$250 US and $500 US for each claim are the most common amounts for deductibles. Lower deductibles will result in higher premiums. A benefit to smaller deductibles is that several body shops might not claim them if they have to do major repairs on your car.
Before you decide to go with the higher deductible just remember that if the time comes you will have to produce that amount of cash. If you have the funds for a bigger deductible, it could make sense to opt for one and bank money on your comprehensive coverage. Additionally, you should consider the value of your car.
If the car note is paid off and the value of the car isn't worth it then carrying comprehensive insurance might not be of value to you. It may not be wise to buy comprehensive insurance for a vehicle that is only worth a couple thousand bucks, since you could pay more on the payments than you would to repair the vehicle. Normally when you buy full coverage insurance both comprehensive and collision are part of the package.
Comprehensive auto insurance covers theft, fire, vandalism, weather damage, riots, missiles, and other similar circumstances which may cause damage to a vehicle. Acts of God, theft or vandalism by family members or employees, contents inside the vehicle, tires, or damage because of improper maintenance are not covered by comprehensive insurance. - 15275
About the Author:
To start saving much more go to Low Cost Auto Insurance and Discount Auto Insurance. Chimezirim Odimba is a financial expert.