Dealing with the messy outcome of a car accident can not only be inconvenient, but a major drain on a driver’s financial resources. While most states demand that motorists purchase basic car insurance, a comprehensive car insurance policy can cover the cost of vehicle damages or replacement in almost any situation, giving drivers the peace of mind that comes with knowing their car has a solid level of protection.
A bare-bones liability coverage policy may not cover enough
Liability coverage is the most bare-bones policy recommended by insurers. Almost every state in the nation requires drivers to purchase liability insurance, which covers any damages caused to another person or their vehicle – but not the driver – in the event of an accident. Although less expensive, this coverage may ultimately be costlier for the policyholder if their car is wrecked or if they suffer any injuries during a crash. Collision insurance is also available to policyholders for an extra charge, which covers their automobile if it is damaged during a car accident where the driver was at-fault.
Comprehensive insurance policies in combination with other policies can limit risk
On the other hand, a comprehensive insurance policy is insurance that people purchase to “limit their risk” and make sure they will not need to deal with enormous expenses if their car is mangled from a random accident. A combination of liability, collision and comprehensive insurance is what insurers refer to as a “full coverage”, reported the website, as they essentially cover the costs of damages no matter how they occur.
Comprehensive insurance policies can cover random damage resulting from random situations
Destruction caused by car theft, vandalism or animal damage is a random – but somewhat common – situation that can lead to expensive repairs which are covered by a comprehensive policy. Comprehensive insurance also protects drivers from “acts of God” such as flooding, hurricanes or fires. Furthermore, comprehensive packages usually come with endorsements, which can beneficial for policyholders although they can increase monthly premiums. Endorsements may include automobile towing, auto glass insurance – which the website said can lower or remove the deductible for paying for broken windows – rental insurance and roadside assistance. If this type of coverage is right for you, it might make sense to look into getting a comprehensive insurance policy quote from CarInsuranceQuote.com.
Comprehensive insurance policies are right for some people, but not everyone
However, comprehensive insurance may not be necessary for every driver on the road. For motorists who drive vehicles that are over 10 years old or have a low retail price, comprehensive car insurance may be costlier than it is worth. While policyholders can choose to lower the high monthly premiums by increasing their deductible, which often involves a $1000 to $1,500 out-of-pocket payment in the case of a crash, which may be unnecessary if the insured vehicle is only worth about that much. Inquire and get a free comprehensive car insurance quote to easily compare with other types of policies that may be of interest for you.