Comprehensive insurance is coverage that protects you in the event your vehicle is damaged due to something other than a car collision. Comprehensive coverage is usually sold with a deductible amount (the out-of-pocket expense an insured agrees to pay before any payment from the insurance company kicks in). Deductibles of $250, $500 or $1,000 are fairly common. As a general rule of thumb, the higher the deductible, the lower the corresponding coverage premium.
Some common events comprehensive insurance protects your vehicle from include:
If you’re leasing or financing a vehicle, your lender will likely require you to purchase comprehensive coverage. If you own your vehicle outright, comprehensive insurance is optional coverage on your car insurance policy. In that case, consider the value of your vehicle. If it were damaged or stolen, are you able to pay that amount out-of-pocket to repair or replace your vehicle? If not, then comprehensive insurance may be a good investment.
Learn more about auto insurance coverage options here, and talk to your local insurance agent to determine if comprehensive car insurance is right for you.
1 In some states, comprehensive coverage includes glass replacement with no deductible-this varies by state, so make sure to ask about the specifics when you purchase your policy.