- Comprehensive coverage protects you against damage or loss from a variety of situations which do not involve accidents, including auto theft. Comprehensive policies typically cover your car against theft, fire, flood, vandalism and sometimes other incidentals.
- If you make payments on your car as a result of a lease or car loan you will usually be required to carry comprehensive coverage on your car insurance as you do not fully own your car.
- When choosing a comprehensive insurance policy, rates will differ depending on what deductible you select. If your car is stolen and not recovered, your insurance company will pay for the value of the car minus your deductible. Deductibles will be higher on more expensive cars and cheaper policies. If your car is older and does not carry high value it is likely not worth the cost to carry comprehensive insurance as your theft payout after deductible would be very small.
- Before purchasing a comprehensive insurance policy read the fine print. Some policies cover your car and any items inside it, while others only cover the car's value. If the car is recovered different policies treat the theft differently. Also, some policies will provide you a rental car in the event of car theft while others will not.
Comprehensive Coverage
Comprehensive Insurance and Car Loans
Deductibles
Fine Print
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