The other day, we talked about car insurance and how to understand the minimum insurance requirements you need to have while you’re out on the road. But those requirements are to protect other people on the road. What about you and your car? There’s a few options you can choose from, here’s some information about the common ones:
- Collision coverage will help repair your car after an accident with another vehicle. Remember, you need to have the deductible set aside first or you could be in a bit of a pickle! If your car is completely destroyed beyond repair, or totaled, the insurance company can help get you money to get a replacement vehicle. Some companies will give you the current market value, others will give you enough to get a newer version of the car you already had. Read the fine print on your insurance policy for more details.
- Comprehensive coverage is for those random things that put a thorn in your paw. Let’s say that you park your car and go watch a movie, like Zootopia. (It was pretty funny, btw) And when you come out of the theater to drive home, there’s a huge tree sitting on top of what used to be your car. Comprehensive coverage is for all those other random things that can cause damage to your car but do not result from a collision with another vehicle. Some people choose to forego this coverage when their car is very old. If the amount quoted to repair the car is more than the car is worth then the insurance company usually won’t cover the repairs even if you do have the deductible available. At that point people usually just decide to get another car. Some people make a similar decision for collision coverage.
- Uninsured Motorist coverage is quite important, because if someone who has no liability insurance hits you, and you don’t have this kind of coverage. You may be stuck between a rock and a hard place for getting your medical bills paid for if the other driver doesn’t have enough insurance coverage. Sometimes this coverage can also include repairs for your car. It is also important to note that not all states offer this kind of coverage so that’s something you’ll need to look into.
Another thing to consider is roadside assistance. It’s not fun to be stuck on the side of the road with a flat tire or overheating car with no way to get home.
If you had an older car would you forego collision, comprehensive or both? Comment or Tweet me, I’d love to know!