Collision And Comprehensive Auto Insurance: What Do I Need?

Collision And Comprehensive Auto Insurance: What Do I Need?
Florida, like other US states, requires only basic personal liability auto insurance – and there is never a time when state law will require anyone to buy collision and/or comprehensive auto insurance coverage.
That said, you may be required to buy collision and comprehensive auto insurance by your auto loan lender or by a company from which you are leasing your vehicle.

But aside from situations where you have no choice to buy this kind of extra protection, it’s often a good idea to invest in it if your vehicle is of particular high value or if you feel your risks are higher than you’re comfortable with.

Below, we will address personal collision and comprehensive car insurance: for information on commercial auto insurance, feel free to follow the link.

The Difference Between Collision and Comprehensive Cover
People sometimes confuse collision auto insurance with comprehensive auto insurance, but the two are not at all the same.

Collision covers you if someone else damages your vehicle OR if you damage your own vehicle accidentally by running into a stationary object like a fence or a mailbox.

Comprehensive auto insurance covers you if your car is stolen (for full value if the car is never recovered), and if your car suffers damage from weather, natural disasters, fire, falling objects, collisions with animals, and more.

Collision and comprehensive cover are often bought together since they cover different things and the people buying them are aiming for as “total” protection as possible.

Should I Invest In Collision And Comprehensive Auto Insurance?
Around three-quarters of US car drivers choose to invest in collision/comprehensive car insurance despite the added cost.

In Florida, it makes especially good sense to add this extra cover. Why? Because although Florida is a high-cost insurance state for basic liability, the cost to add on collision and comprehensive coverage is relatively low.

Also realize that you can adjust your premium greatly by adjusting the deductible an copay, that costs vary greatly from insurer to insurer, and that your make/model/year, location, driving record, and other factors will affect your premium for collision/comprehensive cover.

Should you invest in this extra car insurance or not? While that’s a personal decision, here are some factors to consider:

  • Your auto lender or leasing company may require collision and comprehensive, making it a mute point.
  • If you car’s value is so high that you couldn’t afford to replace it or make major repairs on it should it become necessary, collision/comprehensive makes sense.
  • If you live in an area with a high auto theft rate and your car is relatively new and valuable, get collision and comprehensive.
  • If you are worried about hail, a hurricane, or collisions with deer or other animals, adding this extra cover will give you peace of mind.
  • If your car is older, not in good shape anyway, or isn’t very valuable, it may not be worthwhile to protect it with collision/comprehensive cover.

To learn more about the ins and outs of collision and/or comprehensive Florida auto insurance coverage, or for a free no-obligation insurance quote, contact Flagler County Insurance Agency today!