Car insurance is one of those things that most people hate paying for. It can feel like you are paying a lot of money and getting nothing in return. Then one day you go out to your car and you see it’s been broken into and your stuff has been stolen. Or even worse, your car is gone, stolen by thieves.
Since most states require drivers to have auto insurance, it’s something you have to pay for no matter what. But to protect yourself and your finances, you should make sure you have the right type of coverage. The right coverage will protect you and your property and takes into account your unique situation.
If you live in an area that is known for vandalism or car theft, you will definitely want to be sure you are covered should it happen to you. Auto Insurance can be confusing, so let’s take a look at the coverage that protects you in case of theft or vandalism: comprehensive insurance coverage.
What Does Comprehensive Insurance Cover?
Comprehensive car insurance is known as supplementary or optional insurance. This means that it is not required but can be added to your insurance policy for extra protection against loss.
You use your comprehensive coverage when something happens to your vehicle that is not a collision with another vehicle. So, if your car is vandalized or stolen this is the coverage that you must have to recover any money.
Vandalism can take many forms, such as:
- Broken windows
- Broken locks
- Stolen equipment
In order to avoid paying for these types of damage out-of-pocket, you will need to be carrying comprehensive insurance coverage.
If your car is stolen, comprehensive coverage can help you recover money for the value of your vehicle. Be aware, that there can be a long wait for any kind of compensation. You should report the theft right away to the police, and you will have to work your way through the legal and insurance claim processes before you see any money.
The auto insurance company determines the market value of your car, so it’s important that you let them know of any special equipment you had on the vehicle and be able to back it up with receipts, or even better, pictures.
Once a market value is determined for your vehicle, your insurance company will then take out the amount of your deductible before they pay you.
What Is the Deductible?
When you purchase comprehensive coverage, you will choose a deductible amount. This is the amount of money you will have to pay if you have to use this coverage before the insurance company will take on costs. So, if you have a $1000 deductible, you will need to deduct $1000 from the amount you may be owed due to theft or vandalism of your vehicle.
If you want to know how much comprehensive will cost and determine the right deductible for your situation, InsuranceWins can help. Use our simple form to get matched with the perfect solution for your insurance needs.