Comprehensive and collision auto insurance policies will protect your vehicle in different ways. Getty Images Auto insurance coverage comes in many forms, and what you'll pay — both for your premium and if you
A low comprehensive deductible tends to be less expensive than a low collision deductible. The main reason for this is that you may not always have to pay your collision deductible. Usually, customers who file a collision claim only have to pay the deductible if they're found partially or fu...
Your car insurance deductible is the amount you are responsible for paying out of pocket when you file a claim with your insurer for a covered loss. Auto deductibles most commonly apply to collision and comprehensive claims, but some other coverage types may have deductibles as well. Your auto...
Here’s an example: Your car slides through an icy intersection and crashes into another driver. No one is injured, but the front of your Toyota pick-up is pretty messed up. You file an insurance claim under your collision coverage and get an estimate for the repairs for your car. The ...
No state or federal law mandates comprehensive auto insurance coverage. However, if you don’t own your car outright, you might be required to get comprehensive coverage by your lender or leaseholder. It is common for lenders to require comprehensive coverage so they don’t suffer a financial ...
A car insurance deductible is the amount of money you are expected to pay out of pocket if you have a claim. Setting a higher deductible can lower your premiums, but you’ll pay more if you have an accident.
Flood insurance works like many other insurance policies: As long as you pay your premiums, the insurance company will provide financial help if a covered event happens. In this case, the covered event is a flood. In order to get a payout, you’ll need to file a claim with your flood...
Your deductible is $1,000, and the damage will clearly cost more than that to repair, so you decide it’s probably worth filing a claim. Because you also pay for roadside assistance (a fairly inexpensive add-on), your insurer will even pay to tow your car to its preferred repair shop...
On the other hand, if your $1 million umbrella policy covers a home policy, an auto policy, a vacation home policy and a boat policy, your premium could be considerably more costly. This is because the more policies that are likely to trigger an umbrella claim, the greater the risk for...
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