Collision Insurance Vs. No Collision Insurance

Collision Insurance Vs. No Collision Insurance Collision coverage offered as part of an auto insurance policy will protect the insured if the car is damaged in an automobile accident. If the auto insurance policy has no collision coverage,the insurance company will not cover the cost of repairing a vehicle damaged in an automobile accident. The insured driver should take many factors into account before deciding if collision coverage should be purchased. Collision Coverage The insurance company will cover the cost of repairs for a car damaged in an auto accident if the insured driver has collision coverage. When the insured driver has collision coverage on the auto insurance policy,the insurance company will pay for damage to the vehicle caused by a collision with another vehicle or object. The insurance company will pay for the repairs to the vehicle regardless of who is at fault for the accident. The insured driver will be responsible for paying the deductible and the insurance company will cover the rest of the expense. Deductibles for Coverage A deductible is the amount an insured driver would pay out of his pocket to cover the cost of the repairs. The person would pay the deductible to the auto repair shop fixing the car and the insurance company would pay for the rest of the repairs launch x431 diagun iii. Insurance companies usually offer deductibles ranging from $250 to $1000. A larger deductible will lower the overall cost of the insurance because the insured driver is willing to take on more of the expense of repairs. No Collision/Comprehensive Coverage Comprehensive coverage means the insurance company will pay for repairs if the car is damaged by falling objects or weather conditions. If the insured driver decides not to have collision coverage,comprehensive coverage will also protect the car if it is damaged. Comprehensive coverage can be utilized if the car is damaged by fire,vandalism,theft,falling objects,weather and other miscellaneous incidences that do not involve a collision. If the car is damaged,the insured driver is responsible for paying the deductible and the insurance company will cover the remaining cost for the repairs. Factors When the car is financed or leased,the lien holder usually requires the owner to purchase collision and comprehensive insurance to protect the car. If the insured driver has an older car,the cost of repairing the damaged car may be more than what the car is worth. The owner should decide if having collision and comprehensive coverage on an older car is worth the additional expense. Benefits of Collision Coverage It may be difficult for the insured driver to get money for repairs if the other driver is at fault and doesn't have insurance. If the other driver has insurance,receiving money for the repairs may be delayed if the other insurance company is not able to get in touch with their insured driver or if the other driver disputes who is liable for the accident Creader CRP123. Collision coverage is convenient because the insured driver can get the car fixed right away,regardless of what is at fault for the accident,with minimal out of pocket expense.
Related Links

26 Aug 2015