Comprehensive auto insurance is one of the most important types of insurance products for vehicle owners. This type of insurance provides protection from a range of incidents. You may know you need auto insurance that minimizes liability risk. You also know that you should have property insurance to protect your vehicle in times of accidents. However, comprehensive auto insurance goes further.
What Types of Losses Does This Insurance Protect Against?
If you maintain a high quality auto insurance plan like this, you can gain coverage from a wide range of incidents including most of the following:
- Natural disasters
- Civil disturbances
- Falling objects that strike your vehicle
- Incidents in which you are hit or you hit an animal, such as a deer
Auto insurance like this does not provide coverage for incidents related to damage from a collision to your car, such as when you are involved in a car accident with another driver. It does not pay for medical expenses or lost income for those who are in the car (you or your passengers). It also does not cover damage to another person's vehicle from a collision.
Who Should Maintain Comprehensive Auto Insurance?
If your vehicle has a high worth, you will likely benefit from this type of coverage. In some situations, it is a requirement. For example, if you have a loan on your vehicle or you are leasing it, the title holder may require you to maintain comprehensive auto insurance on the vehicle. This reduces the company's risk.
However, this type of insurance is also recommended and beneficial in other incidents as well. If a covered incident would cause you financial harm, you should maintain this coverage. For example, if you were involved in an accident with a deer and your car was a total loss, could you financially overcome the loss?
It is always a good idea to consider the type of car insurance you need. In many cases, you can lump this type of car insurance with other products, including liability and collision insurance. This will help to reduce the risks you face and help you to minimize any financial loss to you in any type of incident. It may be highly affordable especially in the amount of protection it offers to you.
Are you covered? Call The Insurancenter for more information on auto insurance.