Comprehensive Auto Insurance Coverage
Do I really need comprehensive auto insurance coverage?
Learn more about what you're getting with comprehensive auto insurance coverage and how to decide if you need it or not. Many drivers are looking to save, but don't limit your coverage until you read further.
Popular Auto Insurance Carriers Include
- Nationwide
- State Farm
- Allstate
Comprehensive auto insurance coverage is a must for any driver. In our current economic climate, many Americans are dropping their car insurance to try and save money. In 2010, according to the Insurance Research Council, the national uninsured driver rate is 16.3 percent. It is a dangerous proposition to be an uninsured driver. This begs the question, though: how much auto insurance is enough?
Many companies offer the bare minimum of auto insurance coverage at a bare minimum price. These minimums may not fully protect you in the event of an accident, or may not cover you at all in some cases. For those incidents not resulting from collision, comprehensive auto insurance coverage is available. Comprehensive auto insurance provides coverage for theft, fire, falling objects, explosions, other unexpected problems, and weather that fall outside of minimum coverage. Your need for comprehensive coverage is also dependent on the type of car you drive. If your car is falling apart, is old or in poor condition, comprehensive auto coverage may not be in your best interest. However, if you value your automobile in the slightest, own a luxury automobile, or simply love your car and would hate to see it ruined by an accident, comprehensive auto coverage is right for you.
Comprehensive auto insurance coverage will pay up to the fair market value of your car in the event of a covered incident. This means that having a comprehensive policy on newer cars is a better investment because their value is higher than older models. It also makes comprehensive coverage a necessity for luxury cars or more valuable automobiles that have a high value.