Comprehensive auto insurance is not a state-mandated requirement for drivers in the U.S., but it is something you may want to have. In fact, there are times when it is required for drivers, and there are also times when it is simply beneficial to have. While your state will not make you get it, here are three situations in which you should make sure you have comprehensive coverage on your auto insurance policy.
Your lender requires it
One of the only reasons you will be required to have comprehensive coverage is when you have a loan on your vehicle and your lender requires it. All lenders will require collision coverage, which is designed to protect you and others if an accident happens, but some lenders will also require comprehensive coverage.
If you are not sure if your lender requires this, you should ask. If you fail to get it and it is required, your lender will probably let you know by sending you a letter. If you fail to get it after that, the lender may purchase a policy for you, and you will then have to pay the lender for the costs of the policy.
If your car is worth a lot of money and is paid for
Comprehensive coverage is a form of auto insurance that covers damages from storms, theft, fire, and animal collisions. If your car is worth a lot of money, paying for comprehensive coverage will be worthwhile. You never know when any of these things could affect your vehicle, but there is a chance your car could be totaled if any of these things occurs. Because of this, your only protection against these sorts of damages is through comprehensive coverage.
If there are risks with where you park
If you park your car in the garage every night, you may not have to worry about theft or falling trees, but you may have these worries if you park outside. This can be especially true if you live in a neighborhood where crime is prevalent or if you park your car under an old, dead tree every night. You should assess the risks you have with where you park your car. If you find that it is a risky area, get comprehensive coverage for protection.
Having the right types and amounts of insurance coverage is important, and you can obtain the right coverage for your needs by calling an auto insurance company, such as The Blondin Agency Inc - Nationwide Insurance, today.
Share4 April 2017
I still remember the first time I had to chose an insurance policy; I was 17 years old and had just saved up enough money to afford my very first car. I was so excited to begin driving, but overwhelmed with all of the different auto insurance options. My father helped me chose a full-coverage policy that would cover the cost of my car if it were to become damaged in an accident. When I inevitably caused a small fender-bender as a new driver, my insurance company paid for my car repairs, so it sure was the best policy for me! Now that I am older and have learned a lot about home insurance and other types of insurance, I thought I would make a blog to help others who need insurance advice, like what my dad gave me. I hope I can help you make wise insurance decisions!