Benefits of Comprehensive Car Insurance

Comprehensive car insurance is most widely known as additional coverage for moving damages to your car and that of the other involved party or parties. Many lenders require such a policy, although there is no obligation if your lien has been paid. For most comprehensive policies, a monthly premium is applied and a deductible of your choosing is settled when you file your claim. You can customize your premium payments to your preference: a higher deductible means lower premiums, and can typically be adjusted throughout your policy term.

In addition to reimbursement for moving incidents, comprehensive car insurance covers your vehicle in the event of non-collision loss. These losses can include theft, animal damage, and “acts of God”. Some policies are now also offering coverage for rental cars and hotel accommodations while the vehicle is being repaired. Comprehensive coverage allows you the resources you need to handle your claim seamlessly while you get back on track.

Car theft is not an uncommon event in today’s society. Whether you wake up to a smashed window and missing electronics, or an empty parking spot altogether, comprehensive policies can be customized in advance to cover you in the event of such a loss. Make sure you notify your agent of any custom stereo equipment or non-factory add-ons to be included in your policy. Your benefits may not extend to such modifications and your claim could be denied if your agent has not approved them under your contract.

Hailstorms, floods, and blizzards are unavoidable acts of nature that can cause serious damage to your vehicle. Additionally, fires can wreak havoc in a matter of seconds, causing irrevocable damage that will more than likely total your car. Most insurance policies do not have provisions for such losses, and extenuating expenses are often incurred by the insured. Comprehensive policies cover such events, typically reimbursing any outstanding expenses after you’ve paid your deductible.

Many domestic animals roam away from their houses, roadways are built through wildlife habitats, and birds fly into our paths. In the unfortunate event that you have hit an animal- or one has hit you- many comprehensive policies will reimburse repair expenditures. The savings you will draw from paying a premium as opposed to reconstructing your vehicle after a deer collision can be quite substantial.

While not always a requirement, comprehensive car insurance offers a wealth of benefits. Although many situations are unlikely, they do occur and can be devastating to the victim. Talk to your insurance provider about your options, and find a plan that is right for you. While you hopefully will never use your policy, its benefits are priceless in the event additional coverage is needed.

Photo via Mester Jagels

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