Comprehensive and collision insurance are auto insurance coverages that cover the repair and replacement costs in the event of damage to your car. What differs between them is that they offer coverage for different types of perils that cause damage.
This blog reviews auto insurance comprehensive vs. collision vis-a-vis their coverage, deductible, and costs. It also discusses which insurance between the two may be more important for your car.
Comprehensive Vs. Collision Insurance Coverage Comparison
In our comparative study of auto insurance comprehensive vs. collision, mentioned below are their coverage differences.
Comprehensive Insurance
Comprehensive insurance covers damages caused to your car by non-collision factors that are beyond your control, such as:
- Theft and vandalism
- Fire
- Damage by animals
- Falling objects
- Natural elements like hurricanes or tornados
- Civil disturbance
It is optional coverage in your auto insurance. However, if bought on lease or loan, the company financing your car may make it mandatory for you to carry comprehensive insurance.
Collision Insurance
Collision insurance covers damages to your car caused by a collision which may include:
- Collision with another vehicle
- Collision with immovable objects
- Hit and run
- Rollover of your car
The insurance pays for repairing your damaged car or replacing it if it is totaled in the accident. While similar to comprehensive insurance, having collision insurance may not be mandatory; if you have bought the car on lease or loan, the finance company sanctioning your lease or loan may require you to have the insurance.
Comprehensive Vs. Collision Insurance Deductible
Continuing with our analysis of auto insurance comprehensive vs. collision, the deductible is another essential aspect to cover. When you purchase collision and comprehensive insurance, you need to fix the deductible. A deductible is the amount you pay before your coverage is activated once your insurance provider accepts your claim. While you can select separate deductibles for your comprehensive and collision insurance coverages, having the same deductible helps you better assess your out-of-pocket costs for damage to your car.
Comprehensive Vs. Collision Insurance Cost
Another significant parameter in the auto insurance comprehensive vs. collision comparative study is the cost involved. Typically, comprehensive insurance costs less than collision insurance. The coverage cost for both depends on the following:
- Your insurance provider
- Area of residence
Factors determining their coverage limits are:
- DeductibleBased on your deductible, your insurance provider estimates the monthly premium you pay for your coverage. If you decide to pay a high deductible, your premium rates may be reduced compared to the rates you may have to pay if you fix a lower deductible.
- Value of VehicleIf your car is totaled, the compensation you receive equals the vehicle’s actual cash value.
Which Coverage is More Important for My Vehicle?
Both comprehensive and collision insurance are equally important. You may buy either or both coverages based on your specific requirements and budget. You may consult your insurance provider for the best option.
Get All-Inclusive Car Coverage with Udell Family Insurance!
If you’re seeking top-tier personal auto insurance in Westlake Village, CA, reach out to Udell Family Insurance now. Our team specializes in guiding you to the ideal coverage, striking the perfect balance between comprehensive protection and budget-friendly rates. With our assistance, you can confidently navigate the world of auto insurance, securing your peace of mind on the road. Contact us today or call us directly at 888-942-2800.
