Comprehensive Auto Insurance, otherwise derived as the complete comprehensive cover is considered to be the top level insurance that offers maximum protection for your vehicle.
Comprehensive car insurance covers the damages made caused due to various aspects like vandalism, animal damage, theft, natural calamities, fire, falling objects, etc. except a car accident, and this varies based on the car you drive.
The drivers of Financed or leased cars need to get this comprehensive car insurance to protect the car owner investment.
What are the things that Comprehensive Auto Insurance Covers?
Below are some of the factors that the insurance cover for your damages.
● Falling Objects
● Hitting an Animal
● Natural Disasters namely Tornado, Hurricane, etc
● Glass Damage
● A Civil Disturbance namely Riot.
What does the comprehensive Insurance Policy does not cover?
Below are some of the factors that the comprehensive car insurance does not cover for your damages.
● Stolen property from your vehicle.
● Your car damage occurred due to a collision.
● Any third party car damage due to a crash.
● Medical Expenses of your passengers, legal fees, lost income.
What are the factors to consider while applying for the Comprehensive Car Insurance?
The comprehensive car insurance helps in paying for the accidents if you do not cause it or if it’s not proven that you have created the disaster. The covers also provide you peace of mind and complete protection when there is a considerable cost occurred for the repairs.
If you do not have this comprehensive cover, then you are the responsibility for all the damages financially.
Cost of Comprehensive Auto Insurance
The deductible amount and the cost of this comprehensive auto insurance range from $300 to $1000. A higher deductible indicated lower premium level, increasing your deductible can decrease your insurance premium by 20 to 40 percent.
Another factor that affects the rate of comprehensive car insurance includes the type of car your driving, and if your vehicle is in the history of higher repair costs or claims, then there are high chances for your premium to be increased. In the case of your car with all mandatory safety features like Anti0theft protection, then your vehicle will be eligible for discounts.
Comprehensive Auto Insurance – Working Mechanism
Let me explain the working process with an example.
Imagine your car was damaged in a fire accident and caused you about $5000 damage, the first step you do is claim the insurance policy.
You can file this online on any devices quickly, but some insurance agencies neglect online claiming so you need to ensure whether you can do it online or else go to the store and process the claiming.
In this case, let us imagine that you are having a deductible amount of $1000, then the remaining $5000 will be paid by your Insurance agents if you have a comprehensive auto insurance policy activated for your vehicle.
Few Comprehensive Auto Insurance Facts
● Your lender will ask you to go for comprehensive car insurance in the case of financing or leasing your car.
● The standard deductible from Comprehensive auto insurance is $5000.
● 75% of drivers prefer Comprehensive Auto Insurance.
● On an average rate, the cost of your comprehensive car insurance is about $22 per month.
Comprehensive Auto Insurance Vs Collision Car Insurance
So many car owners get confused with both Collision, and Comprehensive car insurances, both of them covers your car insurance, but the events differ entirely.
While considering Collision Insurance, they cover any accidents occurred whereas Comprehensive insurance covers factors that goes out of your control like anti-theft, natural calamities, etc.
For, e.g., hitting animals are done out of your control, and therefore this falls under comprehensive auto insurance category.
Is there any limit for the Comprehensive Insurance?
Depending on the Coverage Limits, the auto insurance agent pay the amount for the damages. So undoubtedly there is a limit for the Comprehensive Auto Insurance, this mostly depends on your car value, model number and other relevant factors regarding your vehicle.
In the case of your car is being stolen then your Auto Insurance agency will check for your car information like your car model, car value, history of your car likings, your driver records and other relevant things and then suggest a depreciated value for the damage.
If you are in the idea of replacing your car in the case of theft then you need to put extra money from your pockets, you can’t intimate your Auto Insurance agency to pay the full payment.
How likely can you claim Comprehensive Auto Insurance?
Not choosing comprehensive insurance means you are going to spend much money from your side for every damage caused by you without your control.
According to research, 10 % of progressive drivers have got benefited as they have claimed for this comprehensive car insurances but people with no comprehensive claims resulted in putting a high amount of money that they cannot imagine itself to put from their side. The average repair cost is about $1800.
What is the most common Comprehensive Claim yet now?
Most of the claims were due to the glass and the accidents caused by hitting animals like deer. Remember one thing that skipping comprehensive auto insurance policy means you are going to hook up a significant amount of money from your pocket for all the damages caused.
Why should you add endorsements to your Comprehensive Auto Insurance Policy?
Accident Forgiveness, Roadside Assistance, Rental Reimbursement, Towing, and Labor are some of the extra add-on endorsements you can try out along with comprehensive car insurance policy for lower premiums and lower spending of your pocket money.
You can avoid car accidents if you look after your driving habits, but what if the third party person causes an accident? These are something you will not be able to avoid, so sticking with excellent comprehensive auto insurance would be the wise choice to escape from these sort of mishaps.
Another critical thing to consider when getting comprehensive insurance is to choose them from the right Auto Insurance Agency, browse online for the excellent auto insurance agencies, compare four to five best companies and then go with the one that matches your budget and requirements.
Hope you follow all the above factors before getting a comprehensive Auto Insurance Policy. Any other essential prospects we missed? Let you know through the comment section below so that we can add those in the list of comprehensive auto insurance benefits.