All coverages are subject to compliance with the Statutory Conditions outlined in your policy. Please refer to your insurance certificate for further details. File a Claim Get a Quote. Menu Close Menu. EN View Details. Back to Claims. What's collision coverage? So, when should you choose collision coverage? When considering if you should choose collision coverage or not, take these three factors into account: Car value Deductible amount Personal financial situation i. Without collision coverage , you would need to evaluate your financial situation.
In other words, you might want to talk to your agent about whether it makes sense to include these coverages on your car insurance policy. You answered out of correct! Get a Quote Find an Agent. What Is Collision Insurance? How to Compare Car Insurance Quotes. What Is Auto Liability Insurance? This content is for informational purposes only and may not be applicable to all situations. Coverage subject to terms, conditions, and availability. Policy issuance is subject to qualifications.
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Your update should be done soon. This feature is not currently available. Please try again later. Damage to your vehicle from: Collision with another vehicle Collision with an object, such as a fence Single-car rollover accidents. Damage to another person's vehicle Medical bills yours, your passengers', other drivers', other passengers'.
The Ascent Knowledge Insurance-auto. Image source: Getty Images. Will you regret not getting the right insurance coverage? Why it pays to have comprehensive and collision coverage To understand why comprehensive and collision coverage are both good purchases for most motorists, let's look at what type of protection each provides. This includes: Hail or hurricane damage Debris hitting and cracking your windshield Car theft Fire and explosions Violence from civil unrest Collision with a deer or other animal Together, collision and comprehensive coverage pay for most things that can go wrong with a vehicle.
Ensure you are selecting the right car insurance coverage Auto insurance is something that most people don't think about very frequently.
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The Motley Fool owns shares of and recommends Ethereum. The Motley Fool has a disclosure policy. Featured Articles. Best Cheap Car Insurance Options for Best Auto Insurance Companies of Back to The Motley Fool. Comprehensive coverage becomes less useful as your car's value depreciates over time.
To figure out when to drop comprehensive coverage, first consider the actual cash value of your car and your deductible. If you could easily pay this amount without needing to file an insurance claim, you could cut the coverage. Take that amount and subtract the cost of your comprehensive coverage for the policy period, usually six months. A small positive number , comprehensive coverage can still benefit you, but a potential claim check would be small.
Even if you decide comprehensive insurance is worth it for now, revisit this math as your car ages and you get new car insurance quotes. Not everyone has a choice about whether to get comprehensive coverage. But if you could drop the coverage, consider the value of your car plus these pros and cons:. Covers a variety of unexpected events. Costs more than minimum required coverage. Could save you a lot of money on repair or replacement costs if your car is newer and has a high value.
Isn't worth the price if your car is older and has little value. Compare the value of your car to your comprehensive deductible plus the amount you pay for the coverage. You'll be paid the value of the vehicle at the time of the theft, minus your deductible. Comprehensive insurance automatically covers you up to the value of your vehicle minus your deductible. That means all you need to decide is whether you need comprehensive insurance at all and how high your deductible should be.
Some companies may also require that you purchase collision coverage along with comprehensive.
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