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Is Comprehensive Insurance Worth It? Everything You Need To Know

Is Comprehensive Insurance Worth It Everything You Need To Know

Comprehensive car insurance is worth it in many ways, but it may be hard to substantiate the cost of the policy compared to your specific circumstances. But even if you barely drive, that one time a year that you are traveling on the roads could end in an accident. An accident that may leave you with some hefty bills if you are not appropriately covered. 

Plus, you must consider the other days when your car is parked. A fire could break out, a drunk driver could target your vehicle, or maybe a thief wants to go for a joy ride. You never know what could happen. So, with that in mind, let’s talk about what comprehensive covers and why it is worth the money.

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What Does Comprehensive Car Insurance Cover

It can be very confusing when you read through all of the information on the internet when trying to figure out what insurance plan covers what part of an accident or disaster. The first thing that needs to be discussed is the insurance you must have by law. It is one of the most important aspects of any automobile insurance coverage plan. 

Green Slip insurance, also known as Compulsory Third Party insurance (CTP), covers any medical costs or final expenses of any third-party people involved in the accident with you. It does not cover any injuries to you or damage to any vehicles or property. This level of coverage is all about the other people involved in the accident.

Now that you are clear on the type of coverage you must have if you are driving on the nation’s roads, you are ready to discover everything that a good comprehensive policy will cover. And what it will not cover.

  • Third-Party Damage – It will pay for damage done to the other car, or property, involved in the accident even if you are at fault.
  • Self Damage – It will pay for damage to your car and property even if you are at fault.
  • Fire – Covers your car for any damage caused by a fire.
  • Theft – Pays for any damage done due to the theft of your car and any damage caused by that theft.
  • Vandalism – This covers the cost of repairs if your car is the target of vandalism or acts of civil unrest.
  • Nature – You will be covered against any violent acts of nature, including a flood.
  • Animals – It pays for repairing or replacing your car if you hit an animal while driving, such as a deer.

As you can see, comprehensive insurance covers everything you could think of, except for injury or death to third parties. That is why a combination of the two is so important. It will give you coverage against anything and everything that could happen, plus you are up to speed with the nation’s legal requirements.

 To better understand what is meant, you can get an iSelect comprehensive car insurance quote and see what is covered through them.

Why Should You Have Comprehensive Car Insurance

Comprehensive car insurance is a policy you should carry to prevent the loss of cash. That is to say, the loss of money that could occur if you are in an accident and have to pay for the damages out of your own pocket. Repairs to cars can add up, especially if more than one vehicle is involved in the accident. 

It is much better to pay for the cost of comprehensive insurance and only have to pay the deductible amount if an accident occurs rather than having to foot the entire bill. Especially when you consider that the other parties may turn around and sue you for suffering and damages, along with the actual medical visits and repair bills. 

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Final Thoughts About Comprehensive Car Insurance

There should be no doubt in your mind that comprehensive is essential. The cost is worth the investment when you consider how dangerous it truly is to drive on the roads today. With a good policy in your glove box, backing you up every time you leave the house, you can rest assured that you are covered against any mishaps.


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