Auto insurance is a basic necessity for all drivers. there are many types of insurance out there, each with its own advantages and disadvantages. Comprehensive auto insurance is one type that comes in handy for a lot of different situations. the following discusses the benefits, cost, and importance of such coverage.
Do I need Comprehensive Auto Insurance?There are many instances when having comprehensive insurance is a necessity. Comprehensive auto insurance covers natural disasters like fire, thunderstorms, and hail. Man-made trespasses such as vandalism, theft, or breaking glass are also covered. Thunderstorms and other ?acts of God? happen in every geographic region, and theft is an everyday occurrence. Furthermore, comprehensive insurance is a necessity when leasing or financing your car.
How Much Comprehensive Auto Insurance Do I need?Deciding how much comprehensive insurance is appropriate depends on the driver?s evaluation of how frequent these disasters will occur. If these disasters are not a big issue, the consumer will benefit from low premiums, translating into higher out of pocket expenses when something does happen. Conversely, drivers who are more susceptible will choose to pay higher monthly premiums for preventative measures, resulting in lower out of pocket pay.
How Much is Comprehensive Auto Insurance per Month?There are several factors that influence the cost of comprehensive coverage such as driving experience, age, geographic region, and mileage put on the car each year. as age and experience increases, coverage premiums go down. High mileage results in higher premiums, as drivers spend more time on the road and are therefore more prone to disaster. Living in low income neighborhoods will cause premiums to go up, due to more prevalent crime. With that in mind, insurance rates can range from a few hundred to thousands of dollars.
Should I buy Comprehensive Auto Insurance?Determining whether or not to buy comprehensive insurance depends on the lifestyle of the driver. If you are older, have over ten years of driving experience under the belt, and don?t drive a lot, you will benefit from this plan. Living in a low income neighborhood might make your car vulnerable to theft or vandalism, and therefore will warrant coverage.
Comprehensive auto insurance is beneficial to drivers who want to be proactive in the event of a man-made or natural disaster. the reality is that no one knows when disasters can occur, and having comprehensive coverage can lead to greater peace of mind and financial stability when they do.
Source: http://www.dailyrosetta.com/do-i-really-need-comprehensive-auto-insurance/30392.html
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