Comprehensive Insurance

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Things to Keep in Mind When Doing a Comprehensive Car Insurance Comparison

You’ve decided you need to beef up your car policy coverage and include comprehensive car insurance, the thing is you aren’t sure you really know all you need to know about rates and coverage for this. You may even already have a policy that includes comprehensive but aren’t sure if the rates you are paying are fair. Whatever the reason, there are some important things to keep in mind when it comes to your car insurance policy and coverage.

Point #1 – What is comprehensive car insurance?

comprehensive car insurance comparison

Comprehensive auto policy coverage is a type of coverage you may need if you have a financed car or if you simply want the ultimate auto insurance protection when you are on the road. What is surprising about comprehensive coverage is that most people get this and collision confused. Other drivers tend to think of comprehensive car insurance as the insurance that picks up where standard collision leaves off.

Point #2 – What is the difference between collision and comprehensive car insurance?

It should be simple, really. Collision insurance covers you if you are the at fault driver in a collision, right? The problem is most collision policies only cover an accident involving another vehicle. While this is certainly the most common type of collision there are plenty of collisions that happen every day involving an animal or a structure such as a home. For these types of collisions, comprehensive usually takes over.

Point #3 – What else does comprehensive auto insurance include?

Aside from the collision that collision car insurance does not cover, comprehensive auto coverage usually also covers things such as damage from fire, floods or other natural disasters. Need protection from what insurance companies refer to as an act of God? More than likely your comprehensive policy will cover you for this. Also if you should suffer damage from vandalism or if your car is outright stolen, this is the kind of coverage you want protecting you.

Point #4 – Comprehensive isn’t without its own gaps.

If you have a financed car, you may be surprised by how many types of coverage you must have to protect yourself and your car. While comprehensive is basically the best, especially when paired with collision, for your financed car you may still need gap insurance coverage. Gap does fill in the last remaining gaps, sure. This is not however the reason why it is called gap insurance. This stands for Guaranteed Auto Protection and is what helps you make sure your asset is covered. When you leave the lot with your brand new car, the amount you owe on the loan is greater than the value of the car. The value of the car is what insurance companies cover if the car is totaled out or stolen. If this should happen, there would be a balance due remaining based on the difference, which you would have to pay for out of your own pocket. Gap insurance helps protect you from having to pay thousands of dollars out of your own pocket for this kind of issue.

Point #5 – It is important to know if you need comprehensive or would be just fine with liability.

Keep in mind there is a fairly wide gap between liability and comprehensive car insurance. If you outright own your car, you may not need something as extensive as comprehensive car insurance. However settling for just liability could leave you with too much financial responsibility should something happen to your car. This is especially true if you do not have health insurance because you may be left with serious medical bills in the event of an accident. When you compare comprehensive car insurance rates, you can be assured that you will have almost all the coverage you need at the best rates available.

So now you should have an idea of some of the factors that go into comprehensive insurance and the rates. Keep in mind there are still many factors that can affect the rates including the type of car you buy, your driving record and even the state you live in. In fact, your very own zip code can play a major role in the rates you pay.

Ready to find out what these rates could be?

Find out just how affordable auto insurance coverage may be for you by using nothing more than your zip code to get started. From there you will see the difference in comprehensive car insurance rates and how to make the best choice for your policy needs.