Insurance Coverage Basics: Comprehensive
Insurance coverages can be confusing to the average person. It is the job of your insurance agent to explain the coverages in language you can understand. Let’s talk about comprehensive coverage, which is one of the most common auto insurance coverages that you need to know.
Comprehensive coverage – which might be called “other than collision” in your policy documents or informally referred to as “deer and glass” coverage – pays for damage to your vehicle caused by non-collision incidents. Common things for which comprehensive provides coverage include damage to your vehicle’s glass, damage from an animal, damage caused by a falling or flying object, theft or vandalism of your vehicle, and fire.
Comprehensive coverage is subject to a deductible. The deductible is the amount of the loss that you will pay out of pocket when a loss happens. Standard deductibles run from zero dollars to one thousand, with $100 and $250 being the most common. A higher deductible can help lower your monthly premium, but you will need to come up with more money when you have a comprehensive claim, in order to pay for the necessary repairs.
Many auto insurance carriers will waive your deductible in the event of minor glass damage that can be repaired with a patch. Quickly tending to small chips before they can spread can save you from having to pay out a deductible, which you would have to do if the damage spreads and the glass needs replaced.
If your vehicle is financed, your contract with the lending institution will likely require that you insure your vehicle with comprehensive and collision coverages. This helps to protect that company’s financial interest in your vehicle if there is a loss. Many people keep comprehensive coverage on their vehicle even if it is not financed, since glass damage and deer strikes are two of the most common causes of loss in Western Pennsylvania.
Circumstances and coverages can vary. If you have a question regarding a potential loss, please call your insurance agent and discuss the situation with them. As always, our team is always ready to review coverages with you to make sure you are properly insured. Let’s talk!