Comprehensive coverage pays for
damages not caused by a collision with another car. Damages can
be from vandalism, theft, fire, falling objects, hitting an animal,
natural disasters, etc. Although comprehensive coverage is not required
by law, most lenders will require you to purchase it to receive
a car loan. Leased cars and rental cars may also require you to
carry comprehensive coverage as part of your Car Insurance Policy.
Comprehensive coverage for older cars
Older cars that have low actual cash value can have the comprehensive
and collision coverage eliminated. Insurers won't pay more than
the book value of your car, regardless of what it costs to repair.
Deductibles on comprehensive coverage
You may chose to have a higher deductible for your comprehensive
coverage. Most people consider deductibles of $500 to $1000, depending
on what you can afford. This is the amount that you must pay out
of pocket every time you have a claim. Higher deductibles helps
lower your auto insurance premiums.