Should I Buy Comprehensive Auto Insurance

Car owners may wonder if it is necessary to buy comprehensive car insurance. Among insured drivers 77 buy comprehensive coverage and 72 buy collision according to an insurance information institute analysis of data from the national association of insurance commissioners. This can be because your auto lender requires both or your insurer requires one to purchase the.

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On the other hand if you live in a city with mild weather and park in a garage you may feel secure without additional coverage.

Should i buy comprehensive auto insurance. The other driver s insurance should pay if he is at fault but collision coverage provides insurance on your vehicle even if you are at fault. Why should i consider fully comprehensive car insurance. How comprehensive insurance works. If you decide your car faces a lot of risk then it could be worth the costs to add comprehensive coverage to your insurance policy for the peace of mind if nothing else.

That depends on your particular situation. When you buy comprehensive coverage you choose the deductible which is what you d pay out of pocket after you submit an insurance claim and it s approved. Although different states differ in the minimum amounts of liability car insurance required no state requires comprehensive insurance coverage. When cars get about 8 years old or older that s the time to start looking at the math for the collision and comprehensive clark says.

The standard rule of thumb used to be that car owners should drop collision and comprehensive insurance when the car was five or six years old or when the mileage reached the 100 000 mark. When to drop comprehensive and collision coverage on your vehicle and just keep liability insurance depends largely on the age of your vehicle. Comprehensive auto insurance covers non collision events such as fire and theft glass breakage or a tree falling on your vehicle. With comprehensive car insurance you can claim from on your insurance for accidents that are deemed to be your fault.

Many auto loans require the borrowers to have comprehensive coverage at least for the length of the loan. Collision insurance covers your vehicle in case of accident. But liability insurance only helps cover damage you cause to another person s property in a collision it doesn t cover damage to your own car. Insurance information institute data show that about 77 percent of drivers buy comprehensive coverage and 72 percent buy collision.

Comprehensive car insurance on the other hand will cover damage to your car as well. In many cases you can t buy comprehensive insurance without collision coverage or vice versa.