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What is collision and comprehensive on an auto insurance policy?
I am a licensed insurance agent. Comp is if your vechile is stolen, or damaged by something other than a car which you will have to pay the dec. Coll is if you get into a car accident and say the person did not have insurance then your coll would kick in. But in most cases there property damage will cover you depending on the state. I am from Florida and it is a no falt state so it doesnt matter. You need to check with your agent and see your dectibable. I would suggest uninsured motorist just in case they don't have insurance your medical will be paid. But that has nothing to do with the com/coll. hope it helped.Tammy
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What are the definitions for liability insurance medical payments insurance uninsured motorist comprehensive and collision for auto insurance?
Answer Liability insurance: The coverage found on any auto policy that handles damage you cause to another person's property, either directly or indirectly with your ca…r. Medical Payments Insurance: Can be either Medpay or PIP. PIP -- or "personal injury protection -- is required in many states, and essentially handles your medical bills in an auto accident, regardless of who is at fault. (summary:will re-attach your fingers if chopped off in a accident) Uninsured Motorist: Can be for either property damage or bodily injury, and essentially makes your carrier step in when the at-fault party is either uninsured or doesn't have enough coverage to handle all your damages. Most people have UMBI (for bodily injury), and mistakenly believe it covers property damage to their cars as well. It doesn't. (summary:will pay for your loss of income as you are an architect whos fingers were cut off and had to miss work for two months while in physical therapy) Comprehensive: A voluntary coverage that, along with collision, constitutes "full coverage" on a vehicle. This is for "non-collision" type accidents, even when you collide with an animal. Essentially, it's to protect your car when you aren't at-fault for a loss. Includes coverage for hail, flooding, etc. Collision: Another voluntary coverage, which handles collisions or overturns involving your vehicle. This is triggered whether you're at-fault or not for a loss, in that it's specific to your vehicle colliding with another object or overturning.
Comprehensive auto insurance covers theft, fire, vandalism, weather damage, riots, and other similar acts which may cause damage to a vehicle. Comprehensive auto insurance do…es not usually cover acts of God, theft or vandalism by family members or employees, contents of the vehicle, or damage due to improper maintenance. Comprehensive is Fire, Theft, and Vandalism (and also if you collide w/ an animal)
It really depends on the circumstances of the claim, and if you were at fault. If you were at fault, and you need to use your comprehensive/collision to pay for your damage…s you probably will be looking at a noticeable increase unless you are over 35 and have never had an accident it may only go up by a few dollars here and there. If you weren't at fault but require the use of your coverage to pay for your own damages because the other person had no insurance depending on the severity you MAY be looking at an increase but depending on how much coverage you elected or how high your deductible is it may not increase. Like I said it varies from case to case and rules, regulations are a fluid thing often bent and not followed up with. There's no definite for every scenario. Hope this helps.
How can you obtain collision and comprehensive auto insurance on a vehicle with a salvage title in NJ Can you insure it under your homeowner's policy?
Homeowners insurance does not cover vehicles used on public roads. It should not be a problem. Geico insures salvage cars, as do most insurance companies. Just rem…ember the car is worth less as a salvage if it's re-totaled the actual cash value of the car is about 40% less than a comparable clean titled car. And it's easier to re-total the car a 2nd time since it's worth less, so minor damage may re-total it. Lesson: don't pay too much for salvage cars and don't get in an accident! **14Jun11- Just called Geico and they said will insure my Salvage Title here in New Mexico, but will also allow me to add Comprehensive to the policy. The company I am currently with will also insure the vehicle for liability but WILL NOT insure for comprehensive. The choice is to go without comp or switch companies. You decide!
Answer Comprehensive is Fire, Theft, and Vandalism (and also if you collide w/ an animal)
Collision coverage pays to repair or replace your vehicle if you are determined to be 'at-fault' (you caused the accident). Typically, a deductible (amount you pay out of pock…et) applies to this type of coverage. The most common deductibles are $500 to $1000, but can be lower or higher. Comprehensive (also known as "Other Than Collision") coverage is usually included on policies with Collision coverage. It covers theft, vandalism, flooding, fire, animal damage, glass damage (not caused by a collision) and severe weather damage (hail, wind, tornado, hurricane, etc). If a vehicle is financed, both of these coverages are considered mandatory to protect the lender. Collision claims will usually cause your insurance rate to increase at your next renewal. Most insurers don't penalize you for Comprehensive claims because they weren't caused by your negligence.
If you are in the process of quoting auto insurance, chances are the term comprehensive coverage has come up quite often. Comprehensive auto insurance coverage is a coverage t…hat will pay to repair or replace your vehicle in the event of a covered loss up to the fair market value of the vehicle. Covered losses that fall under comprehensive include: fire, theft, vandalism, hail, and wind damage. Falling objects and hitting a live animal also fall under comprehensive. If you are financing your vehicle, you will be required to carry both comprehensive and collision coverages to satisfy lender requirements. The state does not require comprehensive or collision coverage.
Collision is meant to cover your car when it collides with something else. Comprehensive is also sometimes called other than collision, so it usually covers the other things t…hat can happen such as fire or theft.
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
Collision insurance pays for damage that happens to your vehicle in an accident if it is your fault. It does not pay for the other vehicle or property involved in an accident.… It is not required by law but it is highly recommend especially if you financed the vehicle and are still paying off the loan.
You are able to chose your own deductible, but you have the car financed or leased, they may dictate the maximum limit.
This really depends. For example- John has a 1992 Toyota Corolla. The car is worth about 2000 dollars. He has no lien or lease on it. He doesn't need comp or collision. Mary… has a 2009 Toyota 4runner, its brand new, low miles and has a lien on it. Since she has a lien on it, she is required to have comp and coll. Also considering the car is worth 20,000k she would be crazy not have it. At certain points you will find that their will be an in-between type of time where the car is paid off, but it also worth some money still. At this point you will have to way your options. Does having comp or coll add up over time to be the best way to go? Or should I take my chances and do away with it to save money? At this time, this is up to you to make the call.
We used to call this "full coverage" but insurance companies do not use the term "full coverage" anymore because there are always cases where there is no coverage. Such as dam…age done intentionally by the insured, and certain other rare occasions. I'm sure some lawyer sued when someone burnt their own car up because the agent said he had full coverage.
It is other than collision insurance. It covers hail, stolen vehicle, hitting an animal, and vandalism.
What is the difference between full coverage auto insurance and comprehensive and collision insurance?
This is a good question. Full coverage was a term that used to be used in insurance to describe a policy that had liability, comprehensive, collision and any other endorsement…s that the client wanted such as rental coverage and whatever else. Due to it being the day of suing over everything we don't use the term any more because too many attorneys have convinced people that full coverage had to mean every possible coverage that there is and then some even though the person knew what they bought. No individual responsibility for reading the policy or at least the declarations summary page, just sue. So now we don't say full coverage any more, we name each coverage separately.
Don't do it as you are likely breaking your contract and the auto will be repossesed or you will be charged for forced place coverage or both.
There are many different types of insurance policies to choose from, including comprehensive and liability. When choosing a policy, be sure to consider the cost and your basic… needs.