What Is Comprehensive Auto Insurance
Comprehensive auto insurance is the part of your insurance policy that protects against the physical damage of your vehicle. It may be called by different terms. One is OTC or other than collision or as a shortened name of just comp. It covers the damages that are not covered by the collision portion of your policy. Comprehensive auto insurance coverage does not pay for virtually any physical damage that happens as a result of a non-collision accident, there are limitations to it. It usually provides for repair or replacement of the vehicle, but not for reimbursement for personal items, things like a custom stereo, that have been stolen or damaged while in the car. A comprehensive auto insurance deductible is another limitation of sorts. There is an amount that the driver will have to pay before the comprehensive coverage begins to pay. This can be as little as two hundred dollars and can even go up to fifteen hundred dollars. The cost of the premium for this coverage depends a bit on what level of deductible you choose. Generally, the higher the deductible is, the lower the price is to carry the insurance.
The cost of the comprehensive auto insurance coverage is dependent on a few factors. One is the age of the driver. Another is the mileage expected for the car in a year or in the policy coverage period if it is less than a year. Policies can be written for six months, ten months or for twelve months. The most common are six and ten month policies. Further, some areas have a higher premium based on crime and other factors in that part of your community. The age and model of your car also play a part in the amount that it will cost to get this insurance. Finally, the comprehensive auto insurance deductible amount is the final piece in determining this cost.
Comprehensive auto insurance is not strictly required by any state, but if you are leasing a vehicle or you have a loan for a new or used car, then the leasing company may require comprehensive coverage to protect their investment. Some people with older cars may opt to drop that insurance since comprehensive payments are based on the cash value of the car. If you own a car that is around four thousand dollars in value, it may be advisable to keep comprehensive, but anything less may not be worth the premium. If your car is in a high risk category, then it could be more apt to be stolen than another type of car. Comprehensive insurance may be a good idea in this case, too.
Comprehensive auto insurance is the coverage that has to do with the physical damage caused to your car from a non-collision incident. So, generally, theft, weather-related events like wind, hail, flooding and fire are covered issues. Things like glass breakage from a road hazard, damage by an animal or a riot or vandalism are usually covered, as well. If you have a question you can ask an agent, consult an online frequently asked question page or if you have already purchased the policy, you can read the information that is sent to you following your purchase. It should outline all that is covered.
While comprehensive insurance is not required by ay states, there are situations in which you must carry the insurance. One of these is if you have a car loan or if you lease a car, the lending company usually requires comprehensive insurance coverage. If you have an older car you may not want this coverage.
Category: Insurance - Auto
Related Articles
- Why Get Car Insurance You Need it
- How Much Is Auto Insurance a month
- How to Find the Best Classic Car Auto Insurance
- Best Car Insurance for Young Adults and Teenagers
- Finding Best Hail Damage Car Insurance
- How to Get Cheap Motorcycle Insurance
- What Is the Average Cost for Motorcycle Insurance
- How to Get Cheap Auto Insurance At 18
- Finding Best 3 Day Car Insurance
- Car Insurance Deposit What You Have to Pay
- How to Find Cheap Car Insurance
- Cheapest Car Insurance for Teenage Boys
- How to Buy Auto Insurance Find Best Companies
- How to Buy Motorcycle Insurance
- Cheap Car Insurance for Women Finding Best Rates
- Insurance Companies How To Choose The Best Auto Insurance
- Finding Best Under 21 Car Insurance
- How to Buy Car Insurance Find The Best Companies
- Car Insurance for a Week Finding the Best
- Young Driver Classic Car Insurance Who to call
Business News
Popular Posts
- Universal Pursuit of Happiness - Wisdom from World Religions
- Overcoming Ego and Self-Centeredness - Lessons from World Religions
- Transcending Materialism - Spiritual Practices from World Religions
- Overcoming Prejudice and Intolerance - Guidance from Global Faiths
- How Mind Balance Can Improve the Mindsets of Employees
- Interfaith Insights by 1WorldPeace - The Top 100 Universal Beliefs in Global Spirituality
- Bridging Beliefs - Finding Common Ground in Love and Respect
- The SmartGuy Vision - A United Future Through Interfaith Love and Respect
- A Cautionary Vision - The Grim Future of a Divided World Without Love and Balance
- A Tapestry of Faiths - Exploring the Common Threads in World Religions
- Fostering Harmony Among Christianity Islam Buddhism Hinduism and Judaism
- Preparing Kids for Adulthood - 15 Vital Skills They Wont Learn in School
- Navigating Diversity - Jerusalem's Tactical Approach to Interfaith Harmony
- Clearing Mental Plaque: The Path to Enhanced Communication and Divine Connection
- Why Return to Jesus Christ and the Church
- Top 50 Ways to Live Longer
- Adventurous Romance -The Key to Enhancing Relationship Chemistry
- Pork Tenderloin with Mustard Cream Sauce
- Navigating Technology and Media for Optimal Mental Well-Being
- Understanding the Link Between Mental Health and Substance Abuse