collision and comprehensive auto coverage?
Aug 31, 2009
in
Tornado Insurance
I found this on an insurance site:
Collision coverage pays for damage to your car if you hit another object like a car or a parking lot light post. It also covers damage to your vehicle if it rolls over.
Comprehensive insurance pays for damage from vandalism, fire, flood, theft, tornado, and pretty much any other physical damage not covered by collision.
It also says that these two are both optional… lets say i take them both off… would that mean that If i get into a collision and i am at fault that my insurance will not cover my car and will not cover other persons car either? or will it cover his/hers but not mine?
also what if the other person was at fault?
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3 comments
Mazzy101 on August 31, 2009 at 11:55 pm
All physical damage coverage is optional – it just depends what you want covered. If you take both coverages off – you will only be covered for liability – meaning if you hit anyone and your at fault – your insurance will cover the other persons vehicle. They will not pay for any damage done to your car. If the other person was at fault – then there company would have to pay for the damages to your vehicle.
Hope that helps!
mom2aus95 on August 31, 2009 at 11:55 pm
If you remove comprehensive and collision coverage and carry liability only, it basically means you have insurance to cover any damages to someone else’s vehicle, but no coverage for your own vehicle.
If you carry liability only and are involved in an accident that is the other driver’s fault, you are at the mercy of the other insurance company or driver to repair your vehicle.
Also, if you have a loan on your vehicle, you are required by conditions of your loan to carry physical damage (comprehensive & collision) for the term of your loan. If you cancel either of these two and still have a loan, the bank can "force place" insurance and charge you for it. I guarantee it will be more than you would pay on your own policy.
Robert G on August 31, 2009 at 11:55 pm
If you drop collisions and you cause an accident your car will not be covered but the other person’s car will be covered by your state required liability coverage.
If you are hit by someone else and they don’t have insurance that will be covered by your uninsured motorist coverage. Uninsured motorist coverage is cheap so you should just keep it.
BTW: Look at your liability limits very carefully. Although many states require $30,000 in coverage only $5,000 of that is available for property damage. That won’t fix many cars so its a very good idea to raise your liability.