The Lowdown on Collision vs. Comprehensive Insurance – Understanding Car Insurance in Colorado Springs |
Posted: February 21, 2018 |
If you are financing a vehicle or have a fairly new model, you probably want to have what’s called “full coverage” insurance. For most people, all they know is they are covered if damage occurs to their vehicle. It will get repaired and all will be well. Within that broad category, you have two components: collision and comprehensive. Next to liability coverage, these two kinds of coverage will take care of most situations. It’s worth understanding what each one covers for your car insurance in Colorado Springs.
Collision Insurance
Collision insurance is exactly what the name says. Coverage for a collision. Generally, this happens between two cars, but it could also include your car and a light pole or fence. If you hydroplane and drive off into a ditch, your collision insurance will cover the damage.
Collision coverage includes any repairs that are necessary to get your vehicle in pre-accident shape. It may mean reimbursement for towing and a rental car while yours is being repaired. It’s a good idea to know the details about your coverage before an accident happens.
Comprehensive Insurance
This type of insurance covers you for events other than a collision. Some examples of coverage under this portion of your policy include the following:
A deer runs out in the road and hits your car A limb breaks off from a tree and falls on your vehicle A thunderstorm comes through and hail causes dents in your car A person keys your car or slashes the tires Your car is stolen
As you can see, many different types of events can be covered under comprehensive car insurance. It is designed to pay for repairs caused by weather events, vandalism and theft, and more.
Choosing Coverage
Much of the time, collision and comprehensive coverage are sold together. They may be purchased separately if necessary, but it usually makes more sense to purchase both. You will usually have a deductible which is the same for both. You must pay this amount before the insurance pays for any expenses.
The rate for this kind of full coverage depends on the age and model of the vehicle as well as information about the driver. Newer vehicles may be more expensive to repair, which leads to higher rates. However, they may be safer to drive, which can help reduce the costs.
You should read your policy to know exactly what is covered and for how much. You should be aware of your deductible so you have the money to pay if you should have to file a claim.
If your vehicle is older and paid for, you may decide you don’t need collision and comprehensive insurance. However, you are at the mercy of the other person’s insurance if you’re in an accident and it’s not your fault. When you have full coverage, your insurance provider handles the claim with the other party in many cases. Though costly, full coverage is often important and necessary for vehicles.
John Smith works for John Smith Insurance Agency which provides car coverage Colorado Springs. Affordable rates and superior service for all home, auto and business/commercial insurance needs.
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