What Is Comprehensive Automobile Insurance ?

Comprehensive automobile insurance is the title given to encompass various aspects of your insurance policy.  Collision insurance is it’s own entity with the balance coming under the comprehensive umbrella. 

Collision insurance coverage pays for damage caused to your vehicle in an automobile accident when you are in the wrong.  A standard policy will cover damages up to the fair market value. 

If the damage exceeds fair market value your car will be wrote off and you will receive a payout for the fair market value. 

Collision carries a deductible which is the portion you are willing to pay before your insurance kicks in.  The higher the deductible the less your premiums will be.  Collision insurance is not required by law and whether you choose to carry it will depend on the value of your vehicle.

Comprehensive auto insurance is similar to collision insurance.  The difference being that it covers damage caused to your vehicle by unknown parties, underinsured parties, or what are classified as acts of God.

Comprehensive insurance covers things such as vandalism, flood, hurricane, theft, and fire.  Make sure to read your policy to find out “exactly” what you are covered for.

Just like collision insurance, your comprehensive insurance will cover damages up to the fair market value.  If the damage exceeds fair market value your car will be wrote off and you will receive a payout for the fair market value. 

Both your comprehensive and collision portion of your policy are a great place to cut the cost of your premiums by adjusting the amount of coverage, the type of coverage, and the deductible. 

That said don’t be tempted to choose a deductible that is higher than you can afford to pay.  Your insurance company will not start repairs until you cough up your deductible. 

Insurance endorsements is a fancy term used to cover things like glass insurance, towing insurance, rental insurance, and road side insurance.  They are not required in any state but are provided as a convenience to drivers offering them additional security.  You will need to decide if they are worth the cost to you.

We would strongly recommend you do carry auto glass insurance, especially with some of the new cars where a windshield can cost upwards of a $1000.00.  That’s a huge amount of cash to outlay and a glass damage can occur quickly and often.  A rock bouncing across the freeway is enough to put a nice big chip in your window.

Some companies will have many additional add ons you can purchase such as medical insurance, lost wages insurance, and club membership discounts. 

When shopping for comprehensive automobile insurance be sure to check around and get plenty of quotes from a variety of insurance agents. 

Proper coverage will give you peace of mind in knowing that you are covered should an accident occurred.  Are you sure you’ve got it covered?  If the answer is no, now is the time to get busy!  Get Free Insurance Quotes!