Comprehensive and collision coverage often get confused in an auto insurance policy.
For many car owners, an automobile is an investment in freedom and mobility. Getting sufficient car insurance is a concrete way to protect your car, your mobility, and your financial security.
Collision and comprehensive coverage can protect your car against damage and loss, so it is important not to confuse the types of coverage for automobiles.
Collision coverage addresses loss to your vehicle incurred in an accident where your car hits another car or an object like a guardrail, retaining wall or tree. A standard collision automobile insurance policy will pay for any repairs up to the fair market value of your car.
Comprehensive coverage covers losses against your vehicle from non-collision events such as damage from fire, theft, vandalism, and hailstorms.
Both coverages have deductibles that can work within your budget. For example, for a lower monthly premium, generally, the deductible will increase. While this works well to maintain an affordable payment, you must consider if you can afford $1,000, for example, out of pocket before the insurance kicks in, should you need repairs that are beyond $1,000.
As these coverages are optional, car owners can select one or the other, based on the individual’s factors like current financial situation, the age of the car, and the likelihood of filing a claim.
There are many possibilities of maintaining coverage while keeping the premium affordable. Fortunately, an independent agent of Abbate Insurance can help you understand how these coverages work and how much collision and comprehensive protection makes sense for you. For additional information on maintaining your auto insurance policy in New Haven and neighboring cities in Connecticut, contact us today!