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Comprehensive and Collision - Security Options for your Car
This insurance offers the best coverage for your auto in about any circumstance or fault. Comprehensive and collision pair up to cover physical damage to your automobile. Generally known as full coverage, these two types of coverage are not required by law in most states.
Both comprehensive and collision extend coverage of damage and loss to your vehicle. However, comprehensive encompasses losses like natural disasters, theft, fire, and vandalism. Collision protects in case of accidents with other cars, unmovable objects, and roll-overs. Your agent can explain the specific expenses your insurance will cover. Typically, cost to make repairs to your vehicle and cost to replace your vehicle are both included. The actual cash value of your auto will determine how much damage is reimbursed.
Comprehensive insurance is a must have if you own a valuable vehicle. Antiques, an auto in restored condition, or a newer car fall into this category. You will have to decide on a deductible, or out of pocket expense to pay in the event of an accident. Say a tree falls on your auto during a thunderstorm and you have a $500.00 deductible. You pay that upfront and the insurance covers the rest. In the same storm, if your car gets totaled by hail, the insurance will completely replace your vehicle, according to its current value. If the bank still owns the lien of your vehicle, then full coverage will be required. If you automobile is older, this insurance may not be a necessity. Consumer Reports magazine recommends that if your yearly premiums for comprehensive and collision are 10% or more of the book value of your car, you ought to drop your coverage.
While comprehensive applies to losses other than auto accidents, collision kicks in if you hit a large animal. A major advantage of full coverage insurance is that it is not dependant on who is at fault. If a deer jumps out in front of your truck and you hit it, it is difficult to place blame. Bodily injury and property damage liability coverage must always declare a certain party to be at fault. Questions? Online quotes are available at your fingertips. Contact an agent for more advice.