Auto Insurance Comprehensive Add-On: How Much Does It Cost?

Comprehensive insurance is an optional add-on to your auto insurance policy that covers damage to your car from causes other than a collision. This includes damage from animals, falling trees, natural disasters, theft, and vandalism. It also covers the cost of repairing or replacing your vehicle in incidents of theft or non-collision damage. Comprehensive insurance is especially useful if you have a new car or the value of your vehicle is high. It is also beneficial for drivers in areas prone to natural disasters or with a large deer population. The cost of comprehensive insurance varies depending on factors such as the value of your vehicle, your location, and your chosen deductible. On average, it costs around $134 to $367 per year.

Comprehensive insurance covers theft, vandalism, and natural disasters

Comprehensive insurance is an optional add-on to your auto insurance policy that covers damage to your car from causes other than collisions. It is particularly useful if you live in an area that is prone to natural disasters, theft, or vandalism.

The cost of comprehensive insurance varies depending on factors such as the state you live in, the value of your vehicle, and your driving record. On average, comprehensive insurance costs around $134 per year but can go up to twice that amount. You can also choose a higher deductible to lower your premiums.

Comprehensive insurance is a valuable addition to your auto insurance policy if you want peace of mind and protection against unforeseen events. It covers a wide range of scenarios that are beyond your control, so you won't have to worry about paying for repairs or replacing your car out of pocket.

It doesn't cover damage to other vehicles or people

Comprehensive auto insurance is an optional add-on that covers damage to your car from non-collision events, such as fires, vandalism, or even hitting a deer. It is important to note that comprehensive insurance does not cover damage to other vehicles or people. This type of insurance is designed to cover unforeseen events and protect your vehicle from financial losses due to theft, natural disasters, or vandalism.

Comprehensive insurance covers a range of scenarios where your vehicle is damaged by non-collision events. This includes theft of your vehicle or certain parts, damage from natural disasters like floods or hurricanes, and fallen objects such as branches or rocks. It also covers accidents involving animals, such as colliding with a deer. However, it is crucial to understand that comprehensive insurance does not cover damage caused to other vehicles or people in an accident. This type of coverage is specifically for damages to your own vehicle resulting from non-collision incidents.

The cost of comprehensive insurance varies depending on factors such as the value of your vehicle, your location, and your driving record. On average, comprehensive insurance costs around $134 per year but can be higher or lower depending on your specific circumstances. When deciding whether to add comprehensive coverage to your policy, consider the value of your car, your financial situation, and your personal preferences.

Comprehensive insurance provides peace of mind by covering unforeseen events and protecting your vehicle from a range of potential damages. However, it is important to understand its limitations, such as not covering damage to other vehicles or people in an accident. By understanding what is and isn't covered, you can make an informed decision about whether to add comprehensive insurance to your auto insurance policy.

Comprehensive insurance is optional if you own your vehicle

Comprehensive insurance is an optional coverage that assists with payments to repair or replace your vehicle in incidents of theft or non-collision damage. It covers damage to your car from animals, falling trees, natural disasters, theft, and vandalism. It does not cover damage to other vehicles or people.

The cost of a comprehensive insurance policy will vary based on the value of the vehicle, the zip code where it is registered, and the driver's past insurance history, among other factors. Costs can range from about $134 annually to about twice that much. According to the National Association of Insurance Commissioners (NAIC), the average annual comprehensive insurance premium for drivers in the US in 2019 was $171.87.

Comprehensive insurance becomes less useful the older your car is, as it reimburses you for repairs only up to the actual cash value of your car, minus your deductible, and that value declines as your car ages. So, if your car isn't worth much, it may not be financially wise to keep the coverage.

It's required if you finance or lease your vehicle

If you're financing or leasing your vehicle, your lender will likely require you to have comprehensive auto insurance. This is because lenders want to protect their investment in your vehicle until you've fully paid off the loan. Comprehensive insurance covers damage to your car from causes other than a collision, including theft, natural disasters, vandalism, and collisions with animals. It also covers damage caused by fallen trees, hail, and floods. While it's optional if you own your vehicle, comprehensive insurance is typically required if you're financing or leasing.

Comprehensive insurance is often sold together with collision insurance, which covers damage to your car resulting from a collision with another vehicle or object. Collision insurance is also usually required by lenders when you're financing or leasing a car.

The cost of comprehensive insurance varies depending on factors such as the value of your vehicle, your location, and your driving record. On average, comprehensive insurance costs around $134 per year but can be nearly double that in some states. You can also choose a higher deductible to lower your premiums. However, keep in mind that a higher deductible means you'll pay more out of pocket if you need to file a claim.

When financing or leasing a car, it's important to understand the insurance requirements set by your lender. While comprehensive and collision insurance are typically required, some lenders may also mandate additional coverages, such as liability insurance or uninsured motorist protection. Make sure to review your loan agreement carefully and consult with your lender to ensure you meet their specific insurance requirements.

Comprehensive insurance is often confused with collision coverage

Comprehensive insurance is designed to pay for repairs to your vehicle caused by things other than a collision. This includes damage from animals, falling trees, natural disasters, theft, and vandalism. It does not cover damage to other vehicles or people. Collision coverage, on the other hand, protects you in a single-car rollover or a collision with another vehicle or object. It also covers damage to your car due to potholes in the road.

If you finance a vehicle, you will likely be required to purchase both comprehensive and collision coverage. However, purchasing comprehensive coverage may not make financial sense if you drive an older vehicle that has already lost a significant amount of value. In this case, comprehensive coverage may be more expensive than it is worth.

The cost of comprehensive coverage will vary depending on factors such as the value of the vehicle, your location, and your driving record. The average cost of comprehensive coverage is around $134 per year but can be nearly double that in certain states. Collision coverage, on the other hand, costs an average of $290 per year.

When deciding whether to add comprehensive coverage to your auto insurance, consider the value of your vehicle and whether you could afford to repair or replace it if it were damaged or stolen. Comprehensive coverage can provide peace of mind and protect your vehicle in a variety of scenarios. However, it may not be necessary for older vehicles with high mileage or if you live in an area where theft, vandalism, or natural disasters are not common concerns.

Frequently asked questions