Your auto insurance policy consists of several types of coverage, but comprehensive coverage protects your vehicle against the most types of risks. Perhaps surprisingly, this coverage is amongst the most affordable coverage types on your policy. This means comprehensive coverage often makes sense even for older vehicles.
If you have an auto loan or lease your vehicle, chances are good that your lender requires full coverage which also includes comprehensive coverage. However, if you have an older vehicle or your vehicle is paid off, you might not carry comprehensive coverage.
Some insurers refer to comprehensive insurance as “other than collision” coverage, which is accurate. Collision coverage protects your vehicle against damage due to collision with another vehicle, a stationary object, or vehicle rollovers. Comprehensive coverage addresses most of the other risks your vehicle might face. Here are some of the common risks that comprehensive coverage can address.
-Damage due to civil unrest or riots
-Hitting or being hit by an animal
-Glass or windshield damage
-Damage due to falling or flying objects
While comprehensive coverage offers powerful protection, it remains inexpensive when compared to collision coverage. In many cases, you can also choose a low deductible. This helps ensure you can use your coverage when you need it.
Comprehensive claims don’t count as “at fault” accidents like a collision claim might, which helps to keep your rates stable even if you need to use your coverage to repair covered damage. Additionally, in some cases, you may even be able to use your comprehensive coverage with no deductible or a reduced deductible. For example, some insurers offer free windshield repair.
If you have an older vehicle that doesn’t have comprehensive coverage, you can add the coverage to your policy even if you choose not to add collision coverage as well. Most insurers just require some photos of the vehicle to verify its current condition. Any new damage that occurs after you add the coverage is eligible for a claim if the cause is covered by comprehensive insurance.
If you haven’t reviewed your policies lately, just reach out to your broker to learn more about comprehensive insurance and be sure your other coverages still match your needs.