Most states require you to carry some level of liability insurance, which pays for any damage you cause someone else in an accident. Some states also require you to buy Medical Payment (MedPay) or Personal Injury Protection (PIP) coverage to pay for injuries sustained in an accident.
Comprehensive auto insurance, on the other hand, is not required by law (although it might be required by your loan company). So do you need to get it?
In answer to that question, just consider the many hazards a comprehensive auto policy protects you from:
* Theft
* Hail damage
* Flood damage
* Fire damage
* Accidents involving animals
Basically, any damage to your car that is not caused by a collision can be covered under the comprehensive portion of your policy. (You usually buy comprehensive insurance along with collision insurance, which covers your car from damage sustained in an accident).
Who Should Buy Comprehensive Insurance
You should typically carry comprehensive insurance on your vehicle if ...
* It is less than five years old
* You owe more on your car than you could sell it for
* You would be unable to buy another car if your current car is totaled
On the other hand, you should consider dropping comprehensive coverage if the cost of your insurance is more than the value of your car plus the amount of your deductible.
Finding a Cheap Comprehensive Policy
To find a cheap comprehensive policy, search for quotes at an insurance comparison website. Here you can get quotes from multiple companies at the same time, making it easy to comparison shop.
Also pay attention to your deductible. The deductible is the amount you pay to repair or replace your car when it's damaged. The higher you set your deductible, the lower your premium will be.
For instance, increasing your deductible from $250 to $1,000 can save you up to 50% on your premium.
Visit http://www.LowerRateQuotes.com or click on the following link to get comprehensive auto insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles on getting cheap comprehensive auto insurance coverage.
