3 Things to Know Before Buying Comprehensive Car Insurance
Read our guide to learn the three things to know before buying comprehensive car insurance, which are: 1) what's covered by a comprehensive policy, 2) why there are the higher limits of comprehensive policies, and 3) which are the ideal cars for comprehensive car insurance coverage. Then enter your ZIP code below to find cheap comprehensive car insurance quotes for free.
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Written by
Rachael Brennan
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Reviewed by
Chris Harrigan
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UPDATED: Sep 11, 2020
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- A comprehensive car insurance policy provides protection from risks for all sorts of damage to a car
- Comprehensive policies also extend to other family members in the same household if named on the policy
- Limited car insurance policies are frequently cheaper up front
Because of this fact, a limited coverage policy won’t cover all the risks that commonly occur with car ownership.
In many cases, limited car insurance policies only provide for damage caused to someone else or their property, leaving the covered driver to deal with his own vehicle damage via his own wallet.
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Table of Contents
What Comprehensive Car Insurance Policies Cover
Unlike a liability car policy that only covers damage to others caused by a named driver, a comprehensive car insurance policy provides protection from risks for all sorts of damage to a car.
This can include theft and vandalism, damage by nature or fire, and accident-caused damage involving other vehicles or traffic situations.
Comprehensive policies also extend to other family members in the same household if named on the policy as well as other drivers using the covered vehicles.
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Comprehensive Policies Tend to Have Higher Limits
Limited car insurance policies are frequently cheaper up front because the amount of risk protection provided by an insurer tends to be very small.
For example, minimum insurance policies intended to just meet a state’s coverage laws only cover as little as $10,000 or $15,000 in specified damages.
This amount of protection is typically far too small to fully address another party’s injuries.
A comprehensive policy, on the other hand, can provide far higher financial risk limits, fully covering damage caused to another party as well as one’s own injuries and vehicle damage.
Comprehensive policies Are Ideal for Expensive Cars
Because of the value attributed to the policy in terms of risk coverage, a comprehensive policy will protect a higher quality vehicle far better than a limited policy.
This is particularly important when seeking vehicle insurance coverage to provide for repair of the policyholder’s vehicle versus others.
A minimum coverage policy may provide just enough to fix a compact economy car but it won’t come close to paying for a mid-line or luxury model.
Repair work is not cheap, and foreign imported cars can be very expensive to fix, both in terms of replacement parts as well as mechanic labor.
With a comprehensive car insurance policy there may be a policyholder co-pay involved but ultimately the remainder of the repair charge will be borne by the car insurance provider per the policy agreed to.
Conclusion
While insurance customers who are budget-conscious will likely turn away from a comprehensive car insurance policy as being too expensive, in many cases it can very likely be the lower cost policy over time.
If not sure, a number of internet insurance comparison websites exist that can help.
A user can plug in his specific needs and the website will produce a variety of policy options as well as price differences between different insurance providers.
A car owner should consider all the possible aspects that may occur with car risks and coverage needed before completely ignoring the benefits of a comprehensive policy.
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