Understanding Comprehensive Insurance

Understanding Comprehensive Insurance

Comprehensive Coverage is an optional coverage added onto an auto insurance policy that protects your vehicle for events that are outside of your control, also known as ‘other than collision’.

Comprehensive can be added onto an Insurance policy to protect the vehicle from:

• theft
• vandalism
• glass breakage
• hail
• fire
• impact with an animal, such as a deer

Comprehensive is considered a part of full coverage, but some companies may let you add Comprehensive coverage to your policy, without having to carry Collision as well.

What does Comprehensive Insurance cover?

Comprehensive is also known as ‘Other Than Collision’ and basically covers any other damage to your vehicle aside from a collision with another vehicle or object.

Is Comprehensive Insurance Required?

Comprehensive Insurance may be required if you are financing a vehicle.

If you have a loan on a vehicle, most lenders may require you to provide proof that you have Comprehensive and Collision on your insurance policy, or they may add their own insurance policy to the loan in order to ensure the vehicle is covered.

If you are financing a vehicle, and fail to have full coverage on that vehicle at the time of an accident, you may be stuck paying off the loan on a totaled car.

You also may consider carrying Comprehensive Insurance on a newer vehicle that you may own outright, or if you live in an area with extreme weather conditions.

Is Comprehensive the same as full coverage Insurance?

Comprehensive Coverage is part of full coverage, but may be added onto an insurance policy alone, without Collision.

A Full Coverage Insurance policy is having the combination of both Comprehensive, and Collision on a policy, not just one or the other.

Why might you just want Comprehensive on your vehicle, and not Collision? Some instances may be if you own your vehicle outright and are more concerned of weather related damages.

What is the difference between Comprehensive and Collision Insurance?

Comprehensive and Collision coverage together is considered full coverage.

Comprehensive will cover everything else that Collision does not cover, that is why it is also known as ‘Other Than Collision’.

Comprehensive covers things like fire, theft, vandalism, glass breakage, impact with an animal, etc. Collision covers impact with another vehicle, or object, only.

When adding Comprehensive and Collision to your insurance policy, you choose a deductible, which is what you would be responsible for paying in the event of an accident or claim. The standard deductibles are usually $250, $500, or $1000.

The higher deductible you have on your insurance policy, the lower the overall premium will be. Some States offer a $0 glass deductible, meaning you pay $0 for any glass breakage.

What reasons would you need Comprehensive Coverage?

Comprehensive Insurance is necessary for drivers who are financing a vehicle, as Comprehensive is part of full coverage, which is required by most lenders.

Comprehensive Coverage may be necessary if you are parking your vehicle for an extended period of time, and want coverage for theft, glass breakage, etc.

Most Insurance companies offer ‘garaging insurance’, which is basically removing liability from your policy, and adding Comprehensive coverage to the vehicle.

Is Comprehensive Insurance Affordable?

The Average cost to add Comprehensive to an Insurance policy is 15-20% of the total policy premium.

Comprehensive insurance may be added onto an insurance policy for a small additional cost.

The premium is determined based on several factors, such as the MSRP of the vehicle, the drivers driving history, and the deductible chosen.

Generally, adding Comprehensive to an older vehicle that you may be concerned about hail damage or glass breakage, it is very affordable to add on.

The graph below shows the average annual premium for liability only, liability with Comprehensive, and Full coverage (Comprehensive and Collision). Rates are based on an experienced driver, clean driving record, and coverage for a 2020 Honda Civic EX.

Who Sells Comprehensive Only Insurance?

Many insurance carriers do NOT have the option of providing comprehensive only coverage, and unfortunately require BOTH comprehensive and collision.

However, one company who DOES provide that option is Progressive Insurance Company.

Progressive is a great option if you feel like your vehicle is a good candidate for liability only plus comprehensive coverage.

If you are curious about what that rate would be, give us a call, or fill out the form below and we will reach out!

Last Updated on December 26, 2023 by Camron Moss