Comprehensive coverage can cover you for practically everything that can arise from owning a car. With the coverages required by an auto loan or a lease agreement, there will be minimum deductibles and coverage minimums. A leased vehicle usually requires lower deductibles and higher coverage limits. But that is not the end of options available with a comprehensive policy.
When shopping for comprehensive auto insurance, there are many things to consider before choosing the company and policy that are most appropriate for you. So, here is a quick how-to guide to help you determine which company and comprehensive car insurance policy works best for you.
First, you should carefully consider what type of comprehensive auto insurance coverage you need. You should consider the amounts of coverage you need in regard to policy limits as the amount of the deductible you wish to pay in the event of an accident. Higher deductibles allow for lower premium payments, while higher policy limits will cost you more—but offer more protection in the event of a major accident. Higher policy limits can also help protect you from additional personal liability if someone is seriously injured or perishes in an accident where you are found to be at fault.
You can use websites like Insure.com and CarInsurance.com to shop for policies that meet your requirements for coverage. These types of websites will also allow you to receive quotes from several different car insurance companies at once. Simply visit the website and fill out the online quote request by entering your name and contact information, driving record history information and information about the car to be insured. Once you have entered all of the required information, submit the information on the website. You will receive several policy quotes from multiple companies within a day or two.
There are three basic items in an automobile insurance policy. These are liability, medical and collision. Liability insurance covers you from any loss of property, injury or death caused by your vehicle. If your vehicle is ever involved in an accident, the damages caused by your vehicle can be an extreme amount. Your liability insurance will cover these costs, but only to the maximum coverage listed in your policy. Any amount over this coverage will be paid by you. Any savings, property or future earnings can be garnished to cover these amounts.
Then there is medical coverage. This is to pay for any medical or hospital bills for yourself and any passengers in your vehicle in the event of an accident. Again, just like with the liability coverage, the amount the insurance will pay is capped by the maximum coverage in your policy.
The last basic item is collision and comprehensive coverage. Collision will cover any damages to your vehicle during an accident, whether caused by you or if the car was stolen. It will also cover any damage caused by vandalism. Comprehensive covers all other ways a car can receive damage such as falling items like tree limbs as well. It will also cover things by an “Act of God” such as floods, lightning, sand storms or any other disaster caused by nature.
There are also other items that your comprehensive policy can include. Rental car reimbursement which will pay the fees for a rental car in the event your car is in a repair shop after an accident. There is also towing coverage that will pay for any towing charges if your vehicle is not drivable after an accident.
Some policies do not cover uninsured motorists. That is if your car is hit by a vehicle that does not have insurance. First the insurance company will try to recover their money from the other driver, but either way, with this coverage, your insurance company will still cover all your repair and medical costs.
In these days of high costs of living, most people are trying to reduce their expenses. One of these ways is with your car insurance. This is done my increasing the deductable amount and reducing coverages. Sometimes this reduction is not a good plan. If you live or drive in high-crime areas, savings too low to cover expensive repair costs, or just have too much to lose by a lawsuit from an accident—you might consider increasing your coverage’s.