Comprehensive Insurance For Cars

Insuring our wealth and property is a smart economical tool that is our bulwark against the ravages of time and calamity. Insurance companies today insure almost everything under the Sun and every kind of damage that could be inflicted on your property.

About Comprehensive Insurance
This insurance type does not restrict itself to cover against any one kind of damage but offers coverage for a wide range of property damage problems or health problems. In case of comprehensive auto insurance coverage, you are insured against much more than just accident related damage.

Comprehensive Insurance Coverage For Cars
Auto insurance policies have two primary insurance components that offer coverage against different types of damages. The two main components are liability coverages and other is coverage against damage in any form. Liability coverage helps you in paying back for damages inflicted by your car on other cars. While damage cover is split into two other components. One is collision insurance and other is comprehensive insurance. Collision insurance only compensates you for paying for damages inflicted in accidents only. Whereas, comprehensive insurance claim of a car covers for almost all kinds of damages other than collision damages in accidents. The premium and deductible amounts for both these types of insurance covers is calculated separately. So while looking for auto insurance, have a close look the details of both these components.

A comprehensive cover, along with collision cover, is a complete insurance solution for you. Comprehensive auto insurance coverage generally helps you to pay for damages of several types including the following:

    Earthquakes & Other Natural Calamities
    Damage Due to Falling Objects
    Storm Damage
    Animal Damage
    Broken Windows
    Water Damage

Comprehensive coverage pays for every type of car repair and even replacement in case of theft which costs greater than the minimum deductible amount. That is, repairs which are lesser than the minimum deductible will not be paid for by the insurance company. The lower the deductible, higher is the premium to be paid for comprehensive insurance.

The question that naturally pops up is when does one really need comprehensive insurance. The premium amounts are high and you need to think if you really need this kind of investment, and whether there will be sizable returns on such an investment.

There is a simple rationale behind when and why should you opt for a comprehensive car insurance. It is dictated by the current estimated cash value of your car. When you buy a really expensive new car, getting a comprehensive insurance is beneficial, as it has a high cash value. However, comprehensive insurance for a car whose cash value has already depreciated, will not be that substantial. Hope this rationale has cleared your doubts about when should you go for comprehensive auto insurance. It is better to be insured for any eventuality when you are driving an expensive car.


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