What Comprehensive Coverage Means In An Auto Insurance Policy
When one hits the road in their automobile, they are opening themselves up to the possibility of a collision, which can lead to physical damage and body injuries. For this reason, each of the United States of America's fifty states requires drivers to have some form of auto insurance coverage. With this auto insurance coverage, both the insured and their vehicle will have the costs of a collision at least partially covered, as well as the costs associated with any third party harmed by the collision. But not all vehicle damage arises due to a collision. For this reason, many consumers turn to comprehensive coverage for their auto insurance plans.
Comprehensive coverage is also known as other than collision coverage. This form of car insurance protects one from the costs associated with a number of car-damaging events. These include fires, vandalism, floods, earthquakes, windstorms, tornadoes, hail, falling objects, thefts, broken windows, rioting and explosions. Even if one's car is hit by a missile, a comprehensive coverage plan will help pay for the damage. Additionally, while a normal auto insurance plan will not cover the cost of accidently striking an animal, a comprehensive plan will.
Even comprehensive coverage has its limits, however. If one's car is stolen or damaged by an employee or family member, their comprehensive plan will not offer any financial assistance. On the other hand, some insurance companies offer comprehensive coverage extensions to cover vehicles other than those registered to the policyholder.
Currently, no U.S. state requires drivers to purchase comprehensive auto insurance. This is due to the fact that states are only concerned with liability coverage, not the costs associated with non-collision car damage. For any vehicle worth $4,000 or more, however, comprehensive coverage is a worthy consideration. Furthermore, if one chooses to drive a vehicle that is leased or financed, they may be required to purchase comprehensive coverage.
The cost of comprehensive car insurance varies from driver to driver. As with standard car insurance, auto insurance companies look at one's age, vehicle value, location, driving record and estimated yearly mileage to determine one's insurance costs.
To find the best comprehensive auto insurance rates on the market, it is recommended that consumers utilize online insurance tools. With these tools, one will be able to access comprehensive plans from the nation's leading auto insurance companies. These plans can be compared by price and deductible amount to determine which best meets one's auto insurance needs.
With comprehensive auto insurance, a consumer needs not worry about non-collision vehicle damage. For the nation's more expensive vehicles, this form of insurance coverage can save drivers from being saddled with substantial repair costs.
