Comprehensive car insurance is not a requirement in most States in North America. However, if you want to protect yourself from great financial risks, auto insurance comprehensive is the best. This is the type of insurance ideal for brand new cars as it covers damages for car accidents and other types of accidents.
This auto insurance policy protects you in case damage is done to another party, damage to property or injury to a person. It also covers your own vehicle and your medical expenses despite being at fault in a car accident.
The stipulations on your policy contract vary according to the insurance companies. Before you buy comprehensive car insurance, it is wise to read the terms, conditions and exclusions in your policy.
Among the types of car insurances, auto insurance comprehensive probably has the highest premiums. Besides the coverage for damages to your car and the other party’s car, comprehensive insurance covers damages resulting to other non-car collision incidents.
If your car is vandalized, violated or stolen, the damages are covered by the comprehensive insurance. If you bought a $75,000 car through a car loan and your insurance does not have comprehensive coverage, your losses are double in case your car is stolen. You are paying monthly for a car that you cannot drive because the police cannot locate it. Most banks car loans require that you this type of coverage.
You are also covered with your comprehensive car insurance if you get into a car accident because of an animal. If in case you are driving on a high speed road and a cow suddenly crosses, and you collide into the cow, the damages for the car and the animal loss are covered.
Natural disasters can be unpredictable. They can inflict damage to persons, real estate property and to your car. If you have auto insurance comprehensive, damages to your car caused by floods or hail are shouldered.
You will also enjoy transportation costs if your car is disabled for any covered reason. While waiting for your car to be repaired, your insurance company will provide for your alternative transportation expenses such as no-cost rental car.
Other incidents that are covered by your comprehensive car insurance are riots, explosions, objects falling from the sky, and driving over a high curve. In contrast, property damage auto insurance covers the damages done to the other party’s car.
It can also give you protection in case of lawsuit as a consequence of a car accident. Your real estate property, stocks and other valuable belongings are not put into a rush sale to pay for damages.
Bodily injury auto insurance is helpful in shouldering medical expenses for the other party. In case there is death from the car accident, death claims can be covered by this insurance. And just like the other type of liability insurance, bodily injury liability can be used as a protection in case of lawsuit filed against you.
Comprehensive car insurance can be expensive. However, there are several ways that you can employ to have huge savings or discounts on your premiums. If your car is financed or leases, the financing company may require you to have comprehensive insurance.