Most states require automobile owners to carry liability auto insurance. However, if you only have a liability policy, your insurance company will only pay for claims in the event that you cause an accident and damage someone else's car or cause injuries. Liability insurance is important to have, but if you want the best financial protection, your best bet is to purchase a comprehensive auto insurance policy. A comprehensive insurance policy provides a lot more coverage than a liability policy alone. Some of the things that a comprehensive auto insurance policy provides coverage for include the following.
Automobiles are quite expensive, so the last thing that anyone wants is for their car to be stolen. If you only carry liability auto insurance, you're out of luck if your vehicle is stolen. However, with comprehensive auto insurance, you can file a claim with your insurance company in the event that your car is stolen and they will give you a check for the value of your vehicle, minus your deductible. This is especially important if you have an auto loan and you're still making payments — without comprehensive auto insurance, you will be stuck paying off a vehicle that you no longer have.
If you cause a car accident, there is a good chance that both your vehicle and the other vehicle involved in the crash will have damage. Auto body repairs can be quite expensive, but if you have comprehensive auto insurance, your insurance company will pay for the repairs, even if you're responsible for the accident. In addition, your comprehensive insurance policy will also cover the cost of your medical bills if you're injured in an accident that you were found liable for.
Disasters can strike at any time, and in many cases, there is not enough time to protect an automobile. Cars can be damaged in a number of ways during a disaster, such as a flood, earthquake, tornado, or hurricane. In some cases, a disaster may cause so much damage to a vehicle that it can't be repaired. If you want the peace of mind of knowing that you're protected financially in the event your car is damaged or destroyed in a disaster, buying a comprehensive auto insurance policy is your best bet. In addition, a comprehensive policy will also provide coverage if your car sustains hail damage or if a tree falls on your vehicle during a severe storm.
For more information about auto insurance plans, contact an insurance provider.