If you live somewhere that experiences a winter, you’re familiar with the unpredictable road conditions that you can face on a daily basis. It’s always a reminder to check your vehicle coverage before you have an “oh sh*t” moment on a slippery road. Today, we are here to remind you to take a look at your coverage now rather than later. This article will help address all of your concerns about what’s covered in these different types of insurance. Let’s jump in.
Collision vs Comprehensive
Collison and comprehensive insurance are the optimal types of coverage that safeguard against damage to your car due to winter weather. However, your insurance coverage depends on the vehicle damage circumstances, coverage options, and policy limits.
Collision Insurance
In this coverage, your insurer pays the repair bills for the impairment when your car strikes other vehicles or objects. According to NAIC 2020 analysis, 75% of insured drivers buy collision insurance. However, in most cases, you have to pay a deductible based on your previously chosen amount to acquire these benefits. Typically, collision insurance costs more than comprehensive but relies on other factors like location or vehicle type. In the following scenarios, collision insurance comes into play.
If your car bumps into another vehicle or hits a utility pole, collision coverage will cover the vehicle's repair cost up to the confines of your policy.
Also, collision insurance can safeguard you if your auto rolls over due to icy, slippery surfaces.
If your collision insurance includes uninsured motorist coverage and is engaged in an accident with a driver without insurance, this coverage helps with repairs to your car, and possible medical bills depending on your specific plan.
Comprehensive Insurance
It offers protection against damages caused by events other than collision. It may include factors beyond your control. Moreover, you have to pay separate deductibles for comprehensive insurance, but they are offered in low amounts compared to collision coverage. For instance, if your vehicle is exposed to the following scenarios, the damage is covered by comprehensive insurance.
Theft
Fire
Vandalism
Natural calamities like a hurricane or a tornado
Falling objects such as branches
Civil disturbance
Animal caused damage
Liability Insurance
If you're accountable for causing injury or property damage to others in an incident, these losses are covered by liability insurance. For example, it deals with offering financial protection against medical expenses, legal suit costs, or deterioration of the other parties' property.
Additionally, it's important to acknowledge that liability insurance does not pay for your injuries or damage to your vehicle. For that coverage, personal injury protection (PIP) or collision would be required.
Umbrella Insurance
Umbrella insurance offers further liability coverage beyond the base insurance policies, such as auto and homeowners’ insurance. This extra coverage can help protect you financially in the event of a lawsuit against you.
Pros
Offers broad liability coverage in bodily injuries, property damage, legal defense, and even incidents outside the US
Safeguard your assets in case of a large liability claim
Covers the cost of false arrest, imprisonment, or detention, malicious prosecution and privacy invasion
Cons
Umbrella insurance does not cover:
Your own property
Business losses
Intentional acts or injury by you
Criminal acts and more.
Quick Insurance is Your Trusted Broker for 32 Years
At Quick Insurance we always recommend comprehensive insurance with your collision policy because knowing that you and your family are protected, is priceless. It is essential to review your insurance policy, terms, limitations, and deductibles periodically to make sure your coverage aligns with your needs.
If you have any questions or need help with a new or existing policy, give us a call at 845-497-1119 or visit our website at www.cquickinsurance.com to get a quote.
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