Comprehensive car insurance is something that you will always wonder about. Do you need it, or not? That will totally be up to your specific situation. There are a few ways to judge whether you actually need it or not because there are circumstances in which you can answer that question with a resounding “no.” In contrast, you will need it to cover your investment at other times.
As a general rule, you should always carry comprehensive insurance along with a policy that satisfies the legal requirements that your local and federal laws demand. It covers your vehicle against any damage from natural disasters, fire damage, and your car if you get into an accident, even if it is your fault.
Comprehensive insurance is a necessary evil. Yes, it can cost you a substantial amount of money. Still, it may be worth it when you factor in the cost of repairing or replacing your vehicle. Let’s look at a few reasons you should carry the coverage and a few that exclude you from needing this comprehensive policy.
When Do You Need To Have Comprehensive Insurance?
There are many instances when you should have comprehensive insurance. If you are not sure what is covered by a good policy, it will be detailed below. You will be able to instantly see why it is essential in those instances.
- Natural Disasters – Disasters thrown at you by nature can never truly be prepared for. A flash flood could come coursing down your driveway at any time. Or a tornado might decide to take your car for a ride. If you have comprehensive insurance, you will be covered for circumstances such as these.
- Hail Damage – This is a natural disaster, for sure. Still, it does so much damage to cars every year that it warrants being mentioned all by itself. The little marks that big chunks of hail make can be expensive to fix, if it is even worth it when you consider the value of your car. If you have a comprehensive insurance plan, you will be covered.
- Theft – If a wild child from the block decides to take your car for a joy ride and runs into a tree, you would end up without a drivable vehicle. Or maybe they just decided to break out your driver’s side window to gain access to steal your stereo. Either way, you will be covered if you accepted the latest comprehensive car insurance quote offered to you.
- Animals – A deer often jumps onto the road in front of a car without any warning. If you happen to hit the animal and do not have a full policy, you will be paying for the damage out of your own pocket.
- Trees – Every once in a while, a tree branch will come crashing out of the nearest tree and land directly on your car, just as if it had a huge bull’s eye painted onto it. The damage can be very extensive, which would be covered if you have the right policy.
This is not an all-inclusive list of things that could happen to your car, but you get the idea. Suppose you do not have a good comprehensive vehicle policy in effect. In that case, the damages done from everyday occurrences could leave you with a hefty bill to pay.
When Do You NOT Need A Comprehensive Policy?
This can be a very touchy subject, but there are times when having full coverage can be pointless. If your vehicle costs more to insure than it is worth, it is pointless to worry about having any coverage other than what is required by your local laws.
Another example would be if you had a beefed-up mud truck that you bash on every weekend. Then you take the time during the week to fix it yourself. You would not want to pay for the extra expense of a comprehensive policy.
You should see how important it can be to have fully comprehensive insurance on your car or truck. You want to make sure you have it before you drive out onto the roads most of the time. You will not need the policy under a couple of circumstances, but most of the time, it should be added to your budget and factored into the cost of owning the car.