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Understanding Comprehensive Coverage

Shopping around for car insurance can be a time consuming and challenging task. Trying to master the basic terms associated with a car insurance policy can be a trying experience as well. This article has been prepared to provide you with some basic information about car insurance, specifically about comprehensive coverage in your car insurance policy. While you may have heard the term comprehensive coverage, you may not know exactly what is involved in this type of insurance coverage.

Comprehensive coverage insurance basically covers damage done to a vehicle that doesn’t involve a collision with another car. These types of accidents may include damage that occurs when a car is damaged by adverse weather conditions such as hail, earthquakes, damage caused by hitting animals and fire damage. Some places that are prone to adverse weather conditions or natural disasters may have to pay more to insure their car for natural disasters.

Other things that a comprehensive insurance policy will cover are theft of your car, and damage due to vandalism or riots. Depending where you live theft and vandalism may be regular events, so having a comprehensive coverage option on your insurance policy could be well worth it.

Because comprehensive coverage covers the cost to repair your vehicle if it is damaged outside of normal collision conditions, whether a policy is needed depends a lot on the value of the car being insured. Often if the car is not worth a lot of money then this option can be avoided to save on extra insurance costs.

When purchasing comprehensive coverage you will need to choose a deductible amount for the policy, a deductible amount is the money that you must pay out of your own savings toward the damages. Choosing a higher deductible makes comprehensive coverage more affordable, although it depends on how much you can afford to pay out of your own pocket toward the deductible.

There are no laws requiring that car owners have comprehensive coverage on their vehicles, although when taking out an auto loan for a vehicle many banks will require that the car be covered by a comprehensive insurance policy. This is to cover the banks investment. Once the vehicle has been paid for the owner then has the option to continue with comprehensive coverage, or remove it from their policy.

If you have invested a good deal of money in your car, you might want to make certain that you maintain comprehensive coverage even after you have paid off the loan on your vehicle. You will want to make certain that your investment in your car is well protected.

More information on comprehensive coverage can be obtained by consulting with your car insurance professional. In addition, the insurance commissioner in your state can provide you with basic information about car insurance generally and comprehensive insurance coverage.


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