Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.
Comprehensive auto insurance coverage is an optional coverage so some drivers assume they don't need it. However, whether or not you need comprehensive auto insurance coverage depends on your individual circumstances. Here are some of the circumstances in which you should buy comprehensive coverage:
You Are Servicing Your Car Loan
If you bought your car on loan, the financier will not want to risk their investment by letting you drive without comprehensive coverage. Don't forget that your car is the loan collateral and the lender can repossess it to recover its money if you default on the loan. However, that will only be possible if the car is in good condition. Therefore, auto lenders typically insist on comprehensive coverage for all their clients.
Your Car Is a Thief Magnet
Some cars are stolen more frequently than others. This may be because they are in demand and are easy to sell or because they are stripped down and sold as parts. If your car is a thief magnet, you risk losing it all if you don't buy comprehensive coverage for it; don't forget that this is the only coverage that will compensate you for a stolen car.
Your Neighborhood Is Prone To Natural Disasters
Collision and liability coverage will not come to your rescue if your car is swallowed by a sinkhole or burned in a wildfire. Only comprehensive coverage can compensate you for losses occasioned by natural disasters. Therefore, strongly consider purchasing the coverage if your area is prone to natural disasters.
You Drive an Expensive Car
An expensive or exotic car is not only expensive to replace, but it is also expensive to repair. It makes sense to buy comprehensive coverage for such a car so that you don't have to incur expensive out-of-pocket repair costs each time the car is damaged.
One Of The Covered Drivers Is A Teenager
Teenage drivers are notorious for causing more accidents than mature drivers. Therefore, if you have a teenager who has learned to drive in your household, your risk of experiencing car damage is higher than another household without a teenager. For that reason, it makes sense to buy comprehensive coverage for your car to avoid paying for repairs every time the teenager bangs up the car.
You know your situation best; analyze the above factors and consider buying comprehensive coverage if any of them applies to you. You can talk to your insurance agent at a place like Reinhardt's Insurance Agency for help in acquiring the best coverage for your case.Share