What is the difference between comprehensive & collision coverage?
In 2015, there were an estimated 373,763 motor vehicle accidents in the state of Florida, according to Florida’s Integrated Report Exchange System (FIRES). Car accidents can happen to even the safest of drivers. An auto insurance policy can help cover repairs for your vehicle in case of an accident. There are two different types of insurance coverages that can be purchased to protect your vehicle from damages.
Comprehensive and collision coverages are designed to protect you from loss in the event of damage to your automobile. Both are typically optional unless required by a bank or financial institution that may be financing or leasing your vehicle
Comprehensive Coverage helps pay for loss or damage to an insured vehicle that was not caused by the collision or rollover of a vehicle. The following items are typically covered by comprehensive coverage:
• Fire
• Natural Disaster
• Falling Objects
• Vandalism
• Theft
• Hitting an animal
• Damage only to the glass (such as a cracked windshield)
A collision policy covers your automobile if you:
• Hit another car
• Hit an object (such as a tree)
• Roll your car
Both coverage options are normally subject to a deductible. Under both policies, in the event of damage to your vehicle from any of the above circumstances, you can be reimbursed for repairs. Your vehicle may be replaced if the repairs to the vehicle exceed its current actual cash value. Comprehensive coverage is required to obtain collision coverage. Some policies may offer comprehensive coverage only, but never collision coverage alone.
A frequently asked question about comprehensive & collision coverage is, “What should my deductible be?” Common deductibles for both coverage types are $250, $500, or $1000. Typically, a higher deductible will yield a lower premium. If you select a higher deductible, you will need to pay more money out of pocket in case of a claim. It is important to evaluate your personal financial situation when selecting a deductible for comprehensive & collision coverage.
For additional help with your auto insurance needs contact Pettineo Insurance Agency today at (954) 493-9424 or visit www.pettineo.com for a free quote.
Pettineo Insurance Agency Inc. provides auto insurance in Fort Lauderdale, Lauderdale-By-The-Sea, North Lauderdale, Pompano Beach, Oakland Park, Boca Raton, Deerfield Beach, Hollywood, Sunrise, Coral Springs, Pembroke Pines, Sunrise, Tamarac, Plantation, Lighthouse Point and all of Florida. As an independent agent we represent many top rated companies in both the personal and commercial lines. We place your policy with the company offering the best coverage at a reasonable price. We offer a complete line of personal, commercial, life and health insurance products, designed exclusively for your insurance needs. Serving South Florida for almost 30 years, Pettineo Insurance offers the highly personalized service and stability that you should expect from your insurance agent.
