Should You Get Comprehensive Auto Insurance
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Everyone knows that they need auto insurance to operate a vehicle legally, but most aren’t certain what type of coverage to get. While liability insurance is mandatory in all but one state in the US, some states now require collision. For some, they do not even know the difference between these two levels of protection. Besides, there is a policy that costs more but will cover your vehicle for just about anything that can happen, this, of course, refers to comprehensive car ins. Most people, however, play the cheapest policy game, and that can end up in the long-run to be quite expensive. Learn below about the importance of this coverage and then ask yourself, should you get comprehensive auto insurance?
What is Comprehensive Car Insurance
This protection kicks in where collision leaves off. To put it simple, comprehensive automobile insurance will cover damage to your car that did not happen from an auto incident. Many things could happen to your car, many of which are natural events like water damages from flooding or fire. One key area of concern for most motorists in high crime areas is auto theft protection. Comprehensive does protect against the theft of your vehicle. Also, you will be covered for vandalism to your vehicle, such as your tires being slashed or car spray-painted. Get a free good to go auto insurance quote online in just moments.
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If you are leasing your vehicle, chances are the lender will require you to have a comprehensive auto ins policy. Likewise, if you carry a loan, you may be required to get this additional coverage. Lenders use this type of ins as a hedge to protect the credit they’ve made. In the event your car is burned in a fire or stolen, having a comprehensive plan will allow you to pay off your automobile loan or satisfy a lease contract.
Adding Comprehensive Insurance Costs more
The amount you pay for this coverage will greatly depend on the deductible level you choose. Many start out around $250 and go up to $1,000. The higher the deductible you choose will result in a lower premium cost. You will be responsible for paying more for the damage done to your car before the insurer pays. Just by selecting a high deductible, of between $500 and $1,000, can lower your costs by 10% to 30% depending on the carriers pricing. At good-to-go, we recommend getting a $1,000 deductible and then sticking that amount into a substantial investment account. If you are undisciplined with your money and can’t control your spending, perhaps you should get a small deductible, just in case you have an incident and need to be able to come up with the money quickly.
In the event your car gets stolen or totaled due to an unforeseen event like a tree falling on it, this added coverage could save you from the cost of replacing your vehicle. So if you have a $25,000 car, and it is stolen, you would mostly save 25 grand. The more expensive your car is, the more you should consider adding it, as the benefits will outweigh the small additional costs. When buying this type of policy, make sure you always read the fine print and check for all exclusions. This way you will be sure exactly what will be covered and what won’t and there will be no confusion if you file a claim. Remember there are limitations to comprehensive benefits. If you cause medical injuries to another person, for example, it will not cover the medical costs.
Shop on the Web for the best Rates
Prices for insurance vary widely by each insurer; this is why it is so important to get online quotes so you can be sure you are getting the lowest price. The fastest way to compare rates is getting quoted with good to go insurance. There’s no better way to get cheap auto insurance on the web than good-to-go ins. Compare online quotes in 5 minutes and qualify for discounts that can save you hundreds more.