Comprehensive Insurance

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Why You Need Comprehensive Auto Insurance

Why You Need Comprehensive Auto Insurance

Tom was tired from a long day at work and couldn’t wait to get home.  But, when he walked to the parking lot to retrieve his car, he became confused.  In his normal parking space was a car he didn’t recognize.  After searching the lot, the conclusion came quickly.  His car was stolen. Why You Need Comprehensive Auto Insurance

His initial instinct told him to panic as he was suffering an immediate, gut wrenching feeling of loss.  But beneath all the unsettling, not believing it happened to him, feeling, he knew that relief was ahead because Tom purchased Comprehensive Auto Insurance, which will make him whole again.

Comprehensive is a specific type of automobile insurance coverage.  Many times it’s purchased along with collision, but can readily be purchased separately.

In this case, it is going to protect Tom as a result of theft by paying him the replacement value of his vehicle minus his deductible.   So if his vehicle’s replacement value was fifteen thousand dollars and he had a thousand dollar deductible, the insurance company would issue him a check of fourteen thousand dollars to replace his vehicle.

So, exactly what is Comprehensive Auto Insurance?

It is coverage protecting someone from damage caused to a vehicle by a non-accident incident.

Besides being stolen, had Tom’s vehicle been damaged by a natural disaster, such as:

  • Flood
  • Hail
  • Fire (being mindful that the cause of the fire my not have coverage if the heating system or air-conditioning system was faulty) or
  • Wind damage

It would have been covered as well.

So watching what is purchased by reading the policy is important, because each policy will specifically explain what types of incidents are covered under each plan purchased.  It may have some exclusions, but usually it will provide coverage for a situation in which a vehicle is damaged.  Comprehensive Auto Insurance does not provide coverage for an accident.  That’s where Collision Insurance comes into play.

Vandalism has more often played a role in Comprehensive Auto Insurance.  When someone keys a vehicle or spray paints it, or when heavy objects are thrown at it causing dents and let’s not forget theft of personal items like computers, camera, etc.  Unfortunately, those personal items would fall under homeowners insurance, but anything attached as part of the vehicle, will be recovered by the Comprehensive insurance.

Any loss would have to be appraised for the assessment to repair or replace in order to return the vehicle to its pre-loss condition.  The insurance company is there to make someone whole again and not to make someone’s situation better.

What does Comprehensive Auto Insurance really cover?

  • Fire
  • Vandalism
  • Damage due to weather
  • Riots

What does Comprehensive Auto Insurance not cover?

  • Acts of God
  • Theft by family members, employees
  • Vandalism by family members, employees
  • Contents of the vehicle
  • Improper maintenance

If a policy is read and understood with help from the agent, an unfortunate incident can be made less stressful and recovery will be successful.  For a free quote…just put in your zip code.

Benefits of Comprehensive Insurance

Benefits of Comprehensive Insurance

The many different types of insurance coverage that are available to those who own an automobile can become a bit overwhelming and you may be wondering what your best options are when it comes to the type of coverage you should choose.  While you are required by law to purchase basic liability insurance in every state in the US, there are other types of coverage that are optional.  In order to better understand these – it is helpful to look at one of the most widely purchased types of coverage, which is comprehensive insurance.  By definition the term comprehensive means all inclusive or broad, but in terms of insurance it has a slightly different meaning.  In fact, a simple way of describing comprehensive insurance coverage is that it covers any damage that occurs to your vehicle while it is not moving.  It also provides coverage for damages that are not covered under collision coverage and that is why it is important to have both types of auto insurance coverage.

How Will Comprehensive Insurance Protect Me? Benefits of Comprehensive Insurance

The specific incidents that are covered under comprehensive coverage may vary slightly between insurance companies, as some companies use policies with slightly different language.  However, there are generally a number of situations that are covered under all comprehensive policies.  One of the most common claims under this type of insurance is for a vehicle that is stolen.  It may be the case that the vehicle is stolen and never recovered or it is stolen but damaged before it is recovered.  In either event your comprehensive insurance would pay for the damages, minus your deductible.  This is also a good type of coverage to have as it will pay for any damages that are a result of events that are deemed to be an “act of god”.  This includes things such as tornado damage, hail damage, a tree being blown over onto a car, and more.  While you may think this will never happen to you, it is nice to know you are covered in case it does happen to you.

What Benefits Does Comprehensive Insurance Offer? 

The major benefit of having this type of coverage is that you will not have to pay for major repair expenses out of pocket.  Most types of comprehensive policies require that you have a deductible of anywhere between $250-$1,000.  This amount is deducted from the total amount paid to you for your claim.  If you have a $500 deductible and your vehicle had a tree fall on it and suffered damages that cost $3,000 to fix, your insurance company would pay $2,500.  You would be responsible for coming up with the additional $500 out of pocket.  As it would be quite difficult for most people to come up with $3,000 on short notice to repair your vehicle, a comprehensive policy bridges the gap for you and allows you to get your vehicle back in the road.

Is Comprehensive Insurance Expensive? 

This is actually a type of coverage that is quite affordable and usually costs quite a bit less than collision insurance.  Since most of the coverage is for damages that occur when the vehicle is not moving, there is a far lower chance that you will have to use this coverage when compared to collision.  The best thing to do is to get quotes from multiple insurance companies in order to find the lowest rate possible.  This can be done online in a short amount of time and by comparing quotes from multiple insurers you have a greater chance of saving a lot of money.

Understanding Comprehensive Insurance

Understanding Comprehensive Insurance

Most people get auto insurance, and they don’t even have any understanding of what their policies actually cover. In some cases, they end up paying way too much for coverage they may not even need.

There are many different types of insurance, and one of them is comprehensive, which is quite confusing to a lot of people. This is not the type of auto insurance that every car owner bothers with because it can tend to be pricey. But there are occasions when it really is necessary to have comprehensive insurance coverage.

Who Should Have Comprehensive Insurance?

There are some times when one really should have comprehensive insurance. For example, if you own a classic automobile, you are going to want to have special coverage on it, and this is where comprehensive comes in. Having this coverage will ensure that you are going to get the “agreed value”. This is the agreement between a vehicle owner and their insurance company, and it is the value that can be claimed if something were to happen to the classic auto. After all, with vehicles like these, it can be very difficult to get original parts, and when they can be found, they are extremely expensive.

With comprehensive insurance, a vehicle is covered for pretty much anything that can happen, including: Understanding Comprehensive Insurance

  • Theft and Vandalism – These are not things that are typically covered by most insurance policies.
  • Weather Damage – Again, you will not find this type of coverage in a basic insurance policy, but there are some comprehensive policies that provide coverage for weather damage.
  • Accidents – If you have a classic auto and are in an accident with it, replacement parts are going to be expensive. This is a good reason to have comprehensive insurance.

With comprehensive coverage, they can be sure that they will get the agreed value, even if the car has been damaged to the point that its value has gone way down.

Getting the Agreed Value Policy

The first thing to remember when getting a comprehensive policy is that the agreed value is not based on what the owner thinks their vehicle is worth, but on other criteria, such as the classic automobile market at the time of insuring. It is important to have a professional appraisal in order to be able to get a value on the automobile and set up an insurance policy.

Not every insurance company offers agreed value in their contracts, so you will have to search for companies that do. You will need to ask about certain things, including:

  • Rates – You need to make sure you are going to get the best deals on your comprehensive coverage.
  • What is Covered – Make sure you understand exactly what is covered, because you may need to have additional coverage for some things.

If you are looking for the absolute best rates for your comprehensive insurance, you can find them by clicking here. We offer free insurance quotes, and all you need to do is enter your zip code. No personal information is needed.

Get your quote today, and be on your way to getting the best rates on comprehensive insurance for your brand new vehicle or for your classic car.