Comprehensive insurance coverage is optional coverage that protects you against damage to your vehicle caused by non-collision events that are outside of your control. The uptick of extreme weather events has increased the chances of wind, rain, flying debris and flood waters causing damage to your car. Don’t be caught short when the next storm rolls though.
Remember when shopping and pricing for comprehensive coverage that this coverage is not a separate type of car insurance policy but refers to a specific coverage on an existing policy.
What is comprehensive insurance?
You'd think that the combination of liability, collision and uninsured/underinsured motorist insurance would seem to take care of all conceivable risks — but it doesn’t. None of that other insurance would necessarily cover damage to your car from riots, collapse of a parking garage or kids playing baseball. Comprehensive insurance is a car insurance policy that covers certain damages to your vehicle that are not caused by a collision with another car.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
For instance, you leave for school in the morning and as you’re driving, you are hit by a frightened deer that damages your front-end and brakes a headlight. Is this an accident covered under your basic required auto insurance? Not a chance. This is the type of one-off accident that comprehensive insurance would cover.
Comprehensive auto insurance is supplementary, meaning it’s usually an optional coverage which can be added to an insurance policy. This coverage is usually required if you are leasing or financing your car.
What does comprehensive insurance cover?
Here are a few types of damage that may be covered by comprehensive insurance:
- Theft of car
- Vandalism, fire and explosions
- Windshield and glass damage
- Falling trees, limbs and other objects
- Rocks and objects kicked up by or falling off cars
- Storms, hail, wind, floods, lightning, and earthquakes
- Accidents with animals (e.g., hitting or being hit by a deer)
Comprehensive coverage also entitles you to some compensation for renting a car if yours is stolen. Check your policy to see how much the policy would pay per day and for how long.
What does comprehensive insurance not cover?
- General wear and tear of a vehicle
- Intentional damages
- Mechanical or electrical failure unrelated to an accident
- Damage to your vehicle caused by failing to take proper preventative measures
Is comprehensive insurance worth it?
The exact price of comprehensive insurance on your policy depends on a number of factors unique to each driver. This includes the year, make, model, and age of the vehicle, if you park on the street or in a garage, the vehicle’s rating symbols, loss history, as well as the driving history of the drivers operating the vehicle.
On average, drivers pay $263 per year for comprehensive coverage and $723 per year for collision insurance, according to the most recent rate analysis by Insurance.com.
What's the difference between comprehensive and collision insurance?
What is comprehensive coverage compared to collision? Basically, they’re two halves of a whole. Collision insurance covers you if your car is damaged by another vehicle, a stationary object or by rolling over. If you’re in a collision, you’re covered by collision insurance. Conversely, comprehensive insurance covers damage to your car caused by almost anything but a collision. So if kids use your car as a soccer net or rats chew on electrical wires or make a nest — you’re covered.
Bottom line- should you buy comprehensive insurance?
Anyone that lives in an area that regularly experiences extreme weather or has high auto theft rates can benefit from a comprehensive auto policy. However, if you know you can't afford to pay for major repairs or to replace your car, you should seriously consider buying comprehensive insurance.
Comprehensive insurance reimburses you to fix or replace your car after damage from non-traffic-related causes, such as fires, vandalism or storm damage. The coverage also pays to replace your car if it’s stolen.
Related Content
-
Stock Market Today: Stocks Rally Despite Rising Geopolitical TensionThe main indexes were mixed on Tuesday but closed well off their lows after an early flight to safety.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
Will lower mortgage rates bring relief to the housing market?The Kiplinger Letter As mortgage rates slowly come down here's what to expect in the housing market over the next year or so.
-
Why I'm Keeping My Amex Gold Card Even With a Higher Annual FeeAmerican Express increased its Gold Card fee, starting October 1, but new perks are here, too. Here's the value one editor sees in the card.
-
Car Prices Are Finally Coming DownThe Kiplinger Letter For the first time in years, it may be possible to snag a good deal on a new car.
-
New Graduates Navigate a Challenging Labor MarketThe Kiplinger Letter Things are getting tough for new graduates. Job offers are drying up and the jobless rate is increasing. Are internships the answer?
-
Planning a Summer Road Trip? Here's How to Cut CostsDrivers expect to spend about $2 per mile on average, or about $1,000 on road trips this summer, according to an Experian survey.
-
Kiplinger Readers' Choice Awards 2024: Auto Insurance CompaniesKiplinger Readers' Choice Awards The results of the Kiplinger Readers’ Choice Awards' best auto insurance company category. Our awards celebrate the very best products and services in personal finance.
-
When's the Best Time to Buy a Domestic Flight? The Kiplinger LetterThe Kiplinger Letter A new study by CheapAir.com has crunched the numbers.
-
Woes Continue for Banking Sector: The Kiplinger LetterThe Kiplinger Letter Regional bank stocks were hammered recently after news of New York Community Bank’s big fourth-quarter loss.
