What is the difference in comprehensive and collision insurance? When purchasing auto insurance you will be given the option of liability only or full coverage insurance. Liability only means that in the event of an accident any damages that you cause to others will be covered by the insurance company and any damage to your vehicle is your responsibility. Full coverage means that in the event of an accident any damage to others will be covered and your vehicle will also be covered.
So what is the difference in comprehensive and collision? Comprehensive coverage covers damage to your care which is due to events you can not control. Examples of things covered under comprehensive are deer, trees, acts of god, falling objects, basically anything that you have no control over preventing. This coverage is very inexpensive and many people that carry liability only policies will care this for a few dollars more a month. Also any claim filed under comp will not count against you and make your premium increase.
Collision coverage is what makes full coverage expensive. Collision repairs your vehicle if you cause the damage. So if you are at fault in an accident and you want you car repaired collision is what repairs your car. Keep in mind that word deductible.
Any time you file a claim on comprehensive or collision you have to pay a deductible. The deductible it the amount you are willing to pay in the event of a claim. The higher the deductible you are willing to pay the lower you insurance premiums will be. A little hint is that carrying a high deductible on comp will not save you any money. Always carry a modest deductible on comp like a hundred dollars. Now the higher the deductible on collision the more you save.
If you shop your insurance and must carry collision ask for a quote with different deductibles. If you currently only have liability check into adding comp. A great example is if you have liability on a 1995 Honda and a tree fell on it. With liability only you would get nothing from the insurance company. But if you had comp you would get the blue book value, it may only be a few thousand dollars but way better that nothing.
I hope you found this article informative and by knowing more you can position yourself to negotiate an auto policy that you can afford and properly cover you. If you are considering shopping be sure to us a service that forces agent to compete for your business. You can visit us at www.knoxvilleinsurancequotes.com and get a quote from multiple agents in your zip code. Don?t be distracted by the name we are tied into a national data base that allows anyone in the county to get a quote from their local agents.
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