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How Does Comprehensive Car Insurance Work?
Comprehensive auto insurance covers any damages not caused by a car accident. If your car is damaged by hailstones or flooding, for example, comprehensive covers the repairs or replacement of the vehicle.
Life insurance is essential to protect your family against an unexpected loss, but the insurance world is divided in two: whole life and term, which offer very different approaches.
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While GEICO currently only offers automobile insurance products, its direct sales system also offers homeowners and other products underwritten by other companies. GEICO (or its parent company Berkshire Hathaway) have earned some of the strongest financial ratings in the industry, including A++ (Superior) from AM Best and an AA+ (Very Strong) rating from Standard & Poor’s. In addition, the Ward Group has named GEICO one of its 50 top groups of financially performing insurers.
Allstate Insurance is ranked A+ (Superior) by A.M. Best, “Very Strong” by Standard and Poor’s, and “Excellent” by Moody’s Investor Service. Additionally, Allstate was ranked 11th on InformationWeek magazine’s 2012 list of 250 Top Business Technology Leaders.
The company distinguishes itself among other auto insurers by offering exclusive affinity discounts for qualified customers, and by providing safe driving resources for teens and seniors. Additional discounts are provided for customers who are married and college educated with a bachelor’s degree or higher.
Progressive is one of the most financially stable auto insurance companies, earning an A+ rating (Excellent) from A.M. Best, and AA (Very Strong) from Standard and Poor’s. A.M. Best ranks a company’s financial strength and Standard and Poor’s rates their credit worthiness - Progressive excels in both.
Now a century and a half old, MetLife has the financial reserves to keep on doing what it calls Delivering the Promise—helping its policyholders maintain and build their financial security. It currently has a rating of A+ (Superior) from A.M. Best and AA- (Very Strong) from Standard and Poor’s.
Panel of Experts
- 12+ years of insurance industry experience
- Holds life/health insurance license and FLMI designation
- Extensive editorial background in covering life insurance, health insurance and long-term care
- 6+ years of insurance industry experience
- Managed team of 10 underwriters at State Farm
- Expert in personal lines underwriting including homeowners, personal liability umbrellas, boat owners, personal articles and renters insurance
- 8+ years of insurance management experience
- Certifications: CLU, CPCU, API ChFC
- Expert in Nevada life, variable life, health, annuities, variable annuities, property and casualty insurance
- 25+ years of insurance management experience
- Owned and operated an Allstate Agency
- Won numerous awards including the Allstate Honor Ring and National Champions Award
Our reviews and rankings are designed to help consumers make informed purchasing decisions. We accept compensation from reviewed companies in order to provide our users with this free valuable service.
While 5.74% of drivers with collision insurance filed a claim in 2011, only 2.79% of drivers with comprehensive coverage filed a claim that same year (source).
Of all US drivers, Louisianan's pay the most for their car insurance, averaging $2,699 per year in 2013. Michigan ($2,520) and Georgia ($2,155) had the second and third highest annual averages by state, respectively. The three least costly states by annual policy average were Maine ($934), Iowa ($1,028), and North Carolina ($1,085) (source).
For all homes insured in 2010, 6 percent filed a claim. Of these claims, 97% were for property damage, which also includes theft. Wind and hail was the most common category for damage claims (33.5%), followed by fire, lightning and debris removal (27.4%) and water damage and freezing (22.3%). While wind and hail claims are more frequent, the fire, lightning and debris removal category is the most severe, costing an average of $31,762 between 2006 and 2010 (source).
About a third of consumers in 2013 believe they do not have enough life insurance. Among employed adults, only 30% own disability insurance, while even less (14%) own long-term care insurance (source).
