ifydcat Comprehensive auto insurance coverage can significantly increase your auto insurance premiums so it’s an important financial decision you’ll make in connection with your car. Consider the financial implications of choosing or opting out of comprehensive auto insurance coverage by using the suggestions below.
Don’t assume that a single quote on what it will cost to obtain comprehensive coverage for your vehicle is the going rate. It’s worthwhile to obtain multiple quotes because different insurance companies have different ways of pricing your insurance coverage.
Don’t assume that insurance company pricing of comprehensive coverage remains the same from year to year. Companies constantly change their pricing models so that it’s worth checking out comprehensive coverage costs frequently.
Consider whether something in your life has changed that is likely to make comprehensive coverage more affordable for you such as an improved driving record, an improved credit score or simply your age or the age of your vehicle.
You can always add comprehensive coverage after you’ve purchased your auto insurance policy. You don’t have to immediately opt into comprehensive auto insurance coverage unless you’re financing the car and carrying comprehensive coverage is required for the duration of your loan.
If you’re nervous about finances and you need to have a car for work or to get around where you live, comprehensive can be a form of insurance that will provide you with the peace of mind that you’ll be able to get your car repaired if you’re in an accident and avoid having to find another cheap car or make expensive repairs.
If you rent a car to go on weekend trips or longer trips because your own car is older and less reliable than other cars, having comprehensive coverage can reduce the amount of money you’ll pay for a rental because otherwise you’ll likely be required to purchase comprehensive coverage for the rental vehicle while you’re driving it. This coverage is typically more expensive per day than the cost of comprehensive coverage per day for your own vehicle and through your own insurance company.
If you have a leased vehicle comprehensive insurance may not be the only additional insurance cost you have. You’ll probably also want to purchase gap insurance which will cover the amount you owe on the leased vehicle in case it’s totaled.
If your car has a very low value such as in the hundreds of dollars then you probably don’t need to spend money on comprehensive auto insurance.
If you have more than one car on your insurance policy you can reduce your auto insurance financial burden by carrying comprehensive on one of the vehicles instead of both. Your decision can be based on the age of the cars, their mileage, who’s driving them and how far they’re driven each week.
Comprehensive auto insurance and a determination of whether to have it or not depends on considering many factors about your driving and your vehicle. Use the suggestions above to determine whether you will choose to have comprehensive auto insurance coverage as part of wise financial management of the expenses of vehicle ownership.
Posted in 
