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Comprehensive Coverage
What is comprehensive coverage?
Comprehensive coverage is a car insurance policy
that covers the cost of damages to your car caused
by natural disasters, fire, robbery, theft, vandalism,
and more.
Who needs comprehensive coverage?
Purchasing comprehensive coverage is a good idea
no matter who you are. In a stressful time - after
a natural disaster, or an act of vandalism - it
can be extremely helpful if the financial burden
of paying for car repairs is already taken care
of. Choose a low deductible and pay even less
should you get into a car accident - just make
sure that you have the full amount of the deductible
ready.
If your car is old and has a low Blue Book value, then you don't need to purchase as much comprehensive coverage. If it is possible to replace your car for less than $4000, then it makes financial sense to skip this coverage. Weigh the cost of payments plus the deductible against the cost of replacing the car and let the numbers dictate how much comprehensive coverage you buy.
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How is comprehensive coverage affected by the deductible?
When you choose the amount of your deductible, you are choosing how much of the damages you will pay in the case that you have to file a claim. For example, if you have a $500 deductible and your damages cost $1200 to fix, then you will pay $500 and the insurance company will cover the rest of the bill. If your deductible is $250, you will pay that amount and the provider will cover the other $950.
The amount of the deductible affects your monthly payments. The higher the deductible, the lower your payments will be. Choose a lower deductible and pay more on each bill. When choosing your deductible, consider your overall financial situation and monthly budget.
Does comprehensive insurance cover damages to my windows and windshield?
Sometimes. Comprehensive coverage pays the cost of your windshield in states where it is illegal to drive with a broken windshield. Windows, however, are different. If you purchase comprehensive coverage, choose the add-on, full glass option as well. The cost of even one broken window makes full glass worth the few extra dollars per month.
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