About Auto Insurance: Collision

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Tuesday, March 27, 2012

Comprehensive Car Insurance Vs Collision

ByMike McTigue

Understanding the difference between comprehensive car insurance coverage and collision insurance coverage is very important when it comes to researching and comparison shopping for better car insurance rates. A rate might seem great on the surface, and after you read the fine print, you find out it doesn't cover all of your needs! The coverage you get for that low rate might not be adequate, plus your deductible may be astronomical. If you are a good driver and be certain that you will never need to make a claim, then a high deductible won't make a difference. But, that is why they are called accidents - you don't intentionally smash up your car. We all search for a way to save money. Cutting down on coverage for a lower insurance premium is one way many people save costs.

Comprehensive Car Insurance

Comprehensive insurance covers repair costs or the cost of replacement parts for damages to your vehicle, in some cases property contained within your vehicle and for accidents not caused by a collision - known as OTC (other than collision). This could include damage from natural disasters such as wind storms, fallen tree branches and hail, as well as damage caused by a third party like fire, theft and vandalism. Theft usually covers the car itself and anything deemed part of the car, something actually attached to the car, like the stereo. Personal items such as MP3 players and compact discs are not covered. However, you may be able to claim them through your homeowners or renters insurance.

Collision Car Insurance

Collision insurance is mandatory in most states, whereas comprehensive coverage is optional. When you have a car accident, most collision car insurance policies will cover your medical expenses and costs to repair or replace your vehicle, whether you are at fault or not. Collision also covers damages in the case of a single car accident. If you hit a tree or take down the neighbors fence, for example, you will still be covered.

If you have a loan on your car, the lienholder (finance company) will most likely require comprehensive and collision insurance. This ensures they will get their money in case something does happen to the car. Having both types of coverage increases your premiums. Many car owners will drop comprehensive coverage once they own their cars outright. If you own an expensive car it is a good idea to have comprehensive and collision insurance. Even a minor repair or replacement part for an expensive can be quite costly. If your car is older and repairs would cost more than the car is worth, then you really don't need comprehensive insurance.

Mike McTigue is an Automotive Journalist and former Car Dealer with a unique insight into the auto financing industry, and special financing.

Our readers get low Auto Insurance Quotes and save hundreds.

Article Source:http://EzineArticles.com/?expert=Mike_McTigue

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Car Auto Article FeedFind More ArticlesSearchSimilar ArticlesCar Accident Claims - How You Can Get Money From InsuranceIn This Economy, These 2 Car Insurance Coverages Are More Important Than EverEverything About Comprehensive Insurance CoverageThe Importance of Purchasing Comprehensive Car Insurance For YouTypes of Car Insurance Coverage and Who Needs ThemRecommended Insurance Coverage For CarsThe Benefits of Comprehensive Car InsuranceComprehensive Car Insurance - How to Get the Best RateWhat Does Comprehensive Auto Insurance Cover?Points To Look For While Buying Comprehensive Taxi InsuranceRecent ArticlesObtain The Right Protection For The VehicleCar Insurance for Young Drivers: Boys Vs GirlsGreat Reasons To Keep Up With Changing Insurance LawsHow to Search for the Perfect Car Insurance for YouBenefits of Motor Fleet Insurance Policy Over Individual Vehicle InsuranceHow Being A Responsible Driver Can Save You Money On Automobile CoverageColors and Cars: Does It Matter?Dangerous Car RecallsWhat Is Van Gap Insurance?Getting a "Designer" Traders Car Insurance PolicySubmitted On March 03, 2012. Viewed 6 times. Word count: 443.

MLA Style Citation:
McTigue, Mike".".3 Mar. 2012EzineArticles.com.8 Mar. 2012 .APA Style Citation:
McTigue, M. (2012, March 3). . Retrieved March 8, 2012, from http://ezinearticles.com/?Comprehensive-Car-Insurance-Vs-Collision&id=6918872Chicago Style Citation:
McTigue, Mike "." EzineArticles.com. http://ezinearticles.com/?Comprehensive-Car-Insurance-Vs-Collision&id=6918872EzineArticles.com© 2012 EzineArticles.com
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Friday, March 23, 2012

Understanding More About Auto Collision Insurance

ByCullen Martini

Are you looking for an insurance policy for your car? Today there are a lot of insurance policies available and if you have to choose one, collision insurance stands out amongst them. This is a type of car insurance wherein cars collide due to accidents or untoward incidences.

Accidents can happen anytime when driving. One of the most common incidents is collision of cars where car damage can be costly. The problem with collisions is that both parties can't seem to settle right away who is at fault but if you have an insurance, you don't need to worry about having the car repaired. It even covers when your car hits a tree or a huge rock.

Collision coverage

The coverage of car collision varies from one company to another. They consider various factors like the age, driving experience and the location. The car type and model is also being considered and even the purpose of using the car. The downside of regular insurance is that it only covers the repairs and claims when the car collided with another car or an immovable object. It does not however pay for medical bills and other compensations for people who are affected of the situation. There are basically 3 types which include the standard option, limited option and the broad term options.

The limited option collision coverage has the least coverage amount that anyone can get. The main downside of this coverage is when you are at fault of the accident, you will not get anything from the insurance company. On the other hand, if the accident happened not because of your negligence but the other party's then the company will cover the expenses. The other type is the standard option wherein the company pays the expenses regardless of who is at fault. This means that the coverage does not examine or investigate who is responsible for the accident. The deductible is from $250 to $1000 where insurance holders can claim after the accident. There are some instances where deductibles are not asked but the premium is higher. Thus, this kind of insurance is best for average drivers who earns well and can pay the premiums. Lastly, the broad term option is the most expensive of the three. This is best went the accidents happened because of negligence of the insurance owner and there is a broad term. The good thing about this is even if the other party is the cause of the accident or collision, there is no need to pay any deductible because the company pays for it too.

Applying for this is also easy and straightforward. All you need is to fill out the form or fill it up online. Then the company studies your form and see if you pass the application for desired insurance. After thorough analysis and study, the insurance company approves your application.

What is the difference between collision and liability insurance?

Insurance holders are confused with the two and to make proper distinction, collision insurance is given when any sort of accident happens; on the other hand, the liability insurance is claimed when the other party is at fault and they are asked to pay for the damages. The collision insurance covers up to the amount of payment that is equivalent to the price of your car. And if the expenses in a year exceed the car's value, the company will not pay for it anymore.

Owning your car is a privilege so you should take care of it. Getting your car insured is essential so that you don't have to worry in case of any damage.

Before you sign for any insurance, make sure to look into the details of collision insurance.

Article Source:http://EzineArticles.com/?expert=Cullen_Martini

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Car Auto Article FeedFind More ArticlesSearchSimilar ArticlesExplanation of Collision and Comprehensive Car Insurance and Their DifferencesWhat to Do When Auto Collision Repair is the Last Resort?Hot Tips on Auto Rental InsuranceAuto Owner Insurance - 4 Types Save 50% Or MoreOnline Insurance Auto Quotes - How to Get the Best PolicyAuto Gap Insurance - What to Look For in a Good Auto Insurance PolicyFiling Auto Collision Insurance Claims: What to Do at the AccidentThe Right Time To Drop Your Auto Collision CoverageGetting Around Pitfalls of Auto Collision RepairAuto Collision Repair: What To Do If You Are In An Auto AccidentRecent ArticlesAuto Insurance - Describing Insurance BenefitsGirly Men Save On Car InsuranceGap Insurance - To Defer or Not to Defer, That Is the QuestionAffordable Car Insurance for Teen DriversBenefits of Short Term Car InsuranceSaving Money on Car Insurance TipsCar Insurance - What You Need to Know About ItMerits Of Car InsuranceCar Insurance Advice That Is Proven BeneficialThe Hidden Costs of Car InsuranceSubmitted On February 28, 2012. Viewed 2 times. Word count: 604.

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Martini, Cullen".".28 Feb. 2012EzineArticles.com.2 Mar. 2012 .APA Style Citation:
Martini, C. (2012, February 28). . Retrieved March 2, 2012, from http://ezinearticles.com/?Understanding-More-About-Auto-Collision-Insurance&id=6910625Chicago Style Citation:
Martini, Cullen "." EzineArticles.com. http://ezinearticles.com/?Understanding-More-About-Auto-Collision-Insurance&id=6910625EzineArticles.com© 2012 EzineArticles.com
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Monday, March 5, 2012

Dropping Your Monthly Costs for Collision and Comprehensive Automobile Insurance Costs Posted By : Alston J. Balkcom

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Dropping Your Monthly Costs for Collision and Comprehensive Automobile Insurance CostsBy: Alston J. Balkcom

[ Posted On: 2010-02-22 ]
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Collision and Comprehensive insurance are optional car insurance coverages. If you still have chattel mortgate or lien against your car, the contract you have with your lien holder may force you to carry this type of protection. If you have paid off your auto, you can decide to keep or drop these aspects of your policy. You can shrink your auto insurance premiums if you remove or lower these parts of your insurance policy's protection.

Collision insurance can compensate you for the cost to repair your vehicle when a covered car hits or is hit by another automobile. It can also pay for damages that occur when a covered auto hits a something other than a vehicle such as a road sign or a tree.

Comprehensive insurance is also known as "Other than Collision." This type of coverage pays for damages caused by flood, vandalism, contact with birds or animals, etc..

Since both collision insurance and comprehensive insurance pay for damage to your vehicle and not someone else's, you are allowed to decide whether or not to drop these from your policy. However, if your auto is leased, or you have a lien on your auto, you probably will not be able to do so because the actual owner of the car or the lien holder will want their interests protected.

The liability portion of your vehicle insurance policy is the primary portion of the policy that pays others for their damages. If you collide with another vehicle and you don't have collision insurance, that fact will not impact the amount of money the other party might get.

Why Should You Eliminate Collision Insurance?

The rates for this aspect of your automobile insurance coverage may be more than you want to pay. If your vehicle is totaled, the insurance company will only pay you its book value. At some point, you may feel that the potential return has diminished enough that thepremiums of the collision insurance is no longer justified by the potential payment you might get from your insurance company. If you own your auto free and clear you can ask your insurance company to drop or reduce the coverage.

You can reduce your collision coverage by reducing your coverage. This will shrink thepremiums and still give you some protection. Your lender or leaser may allow you to raise the deductible up to a specified limit.

Why Should You Drop Comprehensive Insurance?

The thinking behind cutting or reducing vehicle comprehensive insurance is the same as the logic associated with removing collision insurance. However, since the cost for comprehensive insurance is less than the cost of collision insurance, you may want to keep it even after you have dropped your collision coverage.

If your vehicle is leased or you have a lien on it, you may not be able to drop the coverage. However the leaser or lender may allow you to reduce the coverage by raising your deductible. This will reduce your rates, although not as much as completely eliminating the coverage would.

Most autos lose value when they get older. This reduces the amount of money that an insurance company is likely to pay to repair or replace a automobile. At some point you may feel that the amount of premium your auto's collision or comprehensive coverage adds to your automobile insurance bill is too much. Exactly when that point comes is determined by your personal comfort level with risk.

Removing comprehensive insurance coverage and/or collision coverage means that you take more risk. If your feel that you are unlikely to have an at fault accident since you drive safely you may feel that you can take this risk. If you garage your vehicle your car is perhaps less likely to be stolen or vandalized. If this is the case, you may want to take these risks as well.

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About The Author: Alston J. Balkcom -- has been a licensed insurance agent for almost a quarter of a century. He now manages several insurance-related websites. Blue Cross health insurance quotes information on his sites. His latest blog posts include When Should I Cancel Collision Insurance? before and after the --> | View Profile & All Articles By: Alston J. Balkcom |

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