do i need comprehensive coverage auto insurance?
TRANSCRIPT
DO I NEEDCOMPREHENSIVECOVERAGE AUTO
INSURANCEW H A T Y O U N E E D T O K N O W
Comprehensive Coverage is easy tounderstand. Quite simply, it refers toaccidents that do not involvecollision or crashes, such as fires,hurricanes, earthquakes, collapsingbuildings, fallen trees, and etc.
Some may argue that it’s best tohave comprehensive coverage foryour vehicle, and some will sayotherwise. The need ofcomprehensive coverage autoinsurance relies on 4 main factors:
Is it Required ?If your vehicle is still under a loan or lease, autolenders and lease holders will generally make itcompulsory to have comprehensive coveragefor your car.
Check with your bank or institution holdingyour vehicle loan or lease to find out if youragreement requires for your vehicle to havecomprehensive coverage.
Would I need it?
If your vehicle is not under a lease or loan, youmay choose to not purchase a comprehensivecoverage. If you’re considering on purchasingone, it is a good idea to find out the value ofyour vehicle.
Would I need it?When a vehicle’s value is low or is aged, youmay want to pay for damages or replacing theentire car on your own.
However if your car is worth a lot, it would bewise to purchase a comprehensive coverage toensure that the fees for repairs and partsreplacements are less of a financial burden.
Broken glass and missing enginesComprehensive auto insurance also covers theone thing that many vehicle owners are afraidof – vandalism and theft.
Many times, a vehicle owner comes back totheir car only to discover that a window hasbeen broken and belongings missing, or worse,
the entire car has disappeared.
Broken glass and missing engines
These unprecedented occurrences are alsocovered by comprehensive insurance.
Should you discover that your windows havebeen smashed, parts of your car damaged oreven missing entirely, some of the damage andburden will be covered by a comprehensiveinsurance.
A common neighbourhoodproblem
Knowledge of your area is important as well, asthis will affect your decision on choosingwhether or not to have a comprehensive autoinsurance.
A common neighbourhoodproblem
If you live in an area that has frequent cases of vandalism, stormy weather or even naturaldisasters such as hurricanes earthquakes, it isbest to purchase a comprehensive insuranceas soon as possible to help offset and makedamages that may happen to your vehicleeasier to handle.
Conclusion
While it may be tempting to save money by notpurchasing a comprehensive coverage, itshould be weighed heavily and thoroughlyagainst the possibilities of your vehicle beingdamaged by actions that the driver generallycannot control.
Conclusion
Having comprehensive coverage will ensurepeace of mind during such incidents, knowingthat one is protected during suchunprecedented incidents.
