You or someone you know owns a vehicle. Either way, everyone has to prepare themselves for when the inevitable happens. The only way to be ready is by getting the right insurance coverage for your car.
So you’re shopping around for other insurance options, or you bought a new car. How can you know what insurance coverage you should get? They’re telling you all about comprehensive and collision insurance, but you don’t really understand anything.
If you’re here it means that you want to learn the differences between comprehensive vs collision insurance. So you can choose the right coverage for your vehicle.
Don’t know where to start? We’ve you covered.
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Comprehensive vs Collision Insurance Coverage: The Basics
Before we go into the differences between comprehensive and collision insurance coverage, we’ll go over the basics. What is collision insurance coverage? What is comprehensive insurance coverage?
Collision insurance coverage covers when your car is hit. You must be thinking it isn’t that simple. Well, this type of insurance covers damages from collisions with your car. Some of the events that qualify as collision are a car crash, hitting a tree, or guardrail, among others.
When you own a vehicle, you probably are concerned with more than just collisions. If you live in a state where baseball-sized hail, falling trees, and floods are a real possibility, you’ve to consider getting comprehensive insurance coverage.
Some of the events covered by comprehensive insurance are flood, windshield, fire, hail damage, and even stolen cars. It’s recommended that you discuss your coverage with your insurance agent so you have a clearer idea of the types of events the insurance will cover.
Some insurance companies won’t let you get collision coverage if you don’t get comprehensive insurance first. Usually, both types of coverage are offered bundled.
We know that these types of insurance coverage aren’t the same, but what are the main differences between them. Here are some of the most important differences:
Cost
Like everything in life, comprehensive and collision insurance coverage don’t come with the same price tag. Collision coverage insurance is more expensive because of the damages it covers. To lower costs, you may consider getting both types of coverage bundled.
Damages
You may think that comprehensive coverage will cover all damages but, it’s only under certain circumstances. Collision insurance coverage covers collisions including most accidents where you’re at fault. Both types of coverage are optional unless your lender or leasing company requires it, but it’s always better to be safe than sorry.
Wrapping It Up
Now that you know the differences between comprehensive vs collision insurance coverage, it shouldn’t be difficult to choose the right auto insurance policy for your car. Remember to analyze what types of damages you want to cover, and consult your insurance agent about the coverage. You want to make sure you’re getting the right coverage for your vehicle.
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