If you are involved in an accident, whether it is your fault or someone else’s, you should have some form of comprehensive car insurance coverage. Although the phrase “comprehensive” is used loosely by insurance professionals, there are many types of comprehensive policies that can help you keep down your premiums while at the same time providing coverage for almost any accident situation that can occur. Some types of policies provide coverage for most, if not all, accidents and emergencies.
Comprehensive car insurance coverage will not only cover: Damage caused to your vehicle from an accident. Medical bills. Lost wages for you or your passengers in case you are not able to work after being injured in an accident. Damage to another individual car caused by an accident. Any damage to personal property caused by vandalism or an act of theft.
Comprehensive coverage will also pay out to repair or replace your vehicle if it is damaged or stolen from you. This is called a collision insurance claim. The policy may also include liability insurance which will cover your legal costs in the event you are sued for damages to others or their property caused by your collision with theirs. In addition, the insurance company will also shoulder the cost of any repairs or replacement that you need to make before your vehicle is back on the road.
There are two basic types of comprehensive car insurance policies: third-party insurance and collision. Third-party insurance covers incidents that happen off the roadway. It covers damage to vehicles that you hit from the rear, such as collisions with other vehicles, animals, wind, or other things. Collision covers incidents that happen on the roadway, like collisions with you or another vehicle. Each type has its own coverage limits and premium amounts.
Most comprehensive car insurance policies will also cover you if you are hit by an animal. This is commonly referred to as dog insurance. It covers your medical expenses if you are hit by a dog, and the medical expenses of any passengers who were riding in your vehicle. Collision only pays for the accident itself, so if the other driver’s insurance covered the accident, you will not be covered.
The difference between third-party and collision coverage is the type of protection you receive. If your vehicle is damaged or stolen, the third-party policy will pay to repair or replace your vehicle, then the insurance company will take over paying for the others’ damages. If you only have third-party coverage, your vehicle and all its parts are covered through the company.
Comprehensive car insurance cost is determined by your age, the value of your vehicle, your driving record, the location of where you live, your level of cover, your deductible, and your income. There are many factors which influence your comprehensive car insurance cost. You can get comprehensive car insurance information institute that will help you find the lowest premiums that give you the coverage you need at the lowest cost. The auto insurance information institute offers online car insurance estimates, which allows you to easily compare premiums and deductibles. To learn about the difference between comprehensive vs collision insurance, check out Joywallet’s article.
Another example of a common comprehensive insurance claim is theft. It covers all the damages that occur when you get your vehicle stolen, whether it is done deliberately or was accidental. However, the insurance does not cover the cost of replacing your vehicle. This means that if your car is stolen, you will have to pay for the repairs yourself, unless you have full coverage on your auto policy. Collision only covers the other car’s repairs or replacement costs and doesn’t cover the cost of replacing your own vehicle.https://www.youtube.com/embed/SMxSTvFmspA