Collision Car Insurance – Overkill or Wise Investment?
Getting collision car insurance can seem like an extra added expense you may not need, that is until you have an accident and realize how little coverage you have in place. Everyone wants to save money these days and rightfully so, but not if it means making mistakes securing insurance. Not having enough insurance or the right kind could actually end up costing you a great deal more than you could ever afford if you ever should have a collision. Find out how to prevent missing out by not having collision auto insurance and also how to determine if it is right for you.
Who Really Needs Collision Insurance Coverage?
The answer to that could practically be any driver who gets behind the wheel of a car. Car accidents can lead to expensive bills that without insurance can lead a person to suffer garnished wages, a repossessed vehicle, a foreclosed home or even bankruptcy. Often times consumers try to pinch pennies by cutting corners on the car insurance coverage. This can end up being a costly mistake.
What may happen without collision insurance coverage in place: 
- You could be left paying for repairs to your own vehicle. If the damage is extensive enough, you could even need to replace your vehicle altogether. The scary thing is if you have the car financed but do not have the proper collision insurance in place, you will still have to pay off the car loan even if the car is totaled.
- The same thing applies to the driver of another car if you are in an accident and deemed the responsible, at fault driver. You could end up spending a great deal of time paying off repairs or the expense of a new vehicle for another driver if you are at fault and do not have the coverage you need.
- If you do not have health insurance and have an accident without collision auto insurance coverage, you could have some very large medical bills to pay. Without collision insurance you would also be liable for the other driver’s medical bills. Keep in mind expenses related to an accident can include but are not limited to hospital stays, surgery if needed, expensive prescriptions and any after care that may result from the injuries such as physical therapy.
- Damage caused to someone’s personal property is also something to take into consideration when deciding if you do or do not need to get collision insurance. Often times an accident can result in damage to someone’s mailbox, fence or even home in extreme cases. If you would rather not be left responsible for the bill to repair someone’s home, then getting the right kind of car insurance coverage is the best way to go.
- Public property is another consideration. In many instances you may collide with a guardrail, light pole or even a building or other structure that is considered public property. This damage has to be covered by someone, and if you do not have insurance that someone is you.
Choosing between Collision Insurance Coverage and the Rest
One of the best ways to determine which type of insurance you should get is to get your free quotes and compare rates. Drivers often make the mistake of assuming they can only afford a minimal auto insurance policy such as liability coverage. Getting quotes to compare your options is the only way to really see how affordable other types of insurance may actually be. When insurance companies compete to have your business, then rates drop below what you would think.
So what are some factors to help you decide which insurance is right for you?
- Find out what your state requirements are, or if you are paying for a financed car make sure your collision car insurance policy meets the minimum guidelines as set in place by the lender. Too little coverage could result in you paying off a loan on a totaled car that you no longer have to drive. Not meeting the state requirements could result in fines and other penalties.
- What type of car are you driving? Financed cars require a good amount of collision insurance coverage and other insurance. However if your car is paid for, you can decide if the value is still high enough to carry more than liability. For older cars or vehicles in a state of disrepair having just liability auto insurance may make more sense.
- Who else is on your policy can impact what type of coverage you should have. This is especially true if you have younger, teenaged drivers on your policy. Any drivers in your household that could be deemed “high risk” will probably require you to have a fair amount of collision insurance coverage, at the very least.
Factors That Affect the Cost of Your Insurance
Before getting your collision car insurance policy quotes, you should have an idea of things that may alter the price you pay.
- As already mentioned, where you live and whether your car is financed or not impact your premium costs quite a bit. Having teen drivers or other types of “high risk” drivers on your policy will also drive the premiums up.
- Where you park your vehicle helps determine your rates per month for automobile insurance. If you live in a quiet neighborhood and are able to house your car in a garage at night, your rates are likely to be better than if you must park on the street in an area that is considered a higher crime rate area.
- Your age, driving record and even your insurance history record all effect your rates as well. Avoid blemishes on your driving record and lapses in your insurance coverage of more than 30 days to keep your premiums lower.
Now you are ready to get your free collision auto insurance quotes for free by simply filling out your zip code and getting started.
How to Play It Safe with Collision Insurance Coverage
Each year more and more traffic accidents occur without drivers having the collision car insurance coverage they truly need. When it comes to being fully covered on the open road, you don’t want to take a gamble and have less insurance coverage than you should. Instead of trying to save money by having less insurance than you should, all you have to do is shop collision auto insurance quotes and find a policy that offers affordable rates. By having insurance policy providers competing for your business, you are sure to find a policy that fits your budget and provides you with the coverage you need.
Collision Auto Insurance – What’s It All About?
Before signing up for any type of insurance, you should always have an idea of what you are actually getting. One thing you should realize is that the guidelines of your collision insurance coverage could vary from the basic ones due to your state’s requirements, if you are getting coverage for a financed car or even just due to the company where you are working.
So, what should you be getting with collision car insurance?
- Collision insurance is meant to cover you and the car of another driver in the event that you are involved in a wreck that you are at fault for causing. If your car is not covered, then you only have a liability car insurance policy.
- In some cases, your collision auto insurance coverage will also include accidents in which you strike something other than a car. Before signing on the dotted line, at least know if you will be covered if you should hit a building or even an animal or if you need comprehensive car insurance to cover that.
- Find out if your policy also includes medical bill coverage for all parties involved. This is especially important to have if you do not have health insurance coverage.
Some Other Notes
In any case, when you are getting insurance make sure you know what the minimum coverage is to drive legally as a license holder in your state. It is also important to make sure you fulfill the requirements as outlined by your lender if your car is financed. If not, the lending company will tack on coverage, which will end up costing you a great deal more than if you get it yourself. Whether you decide to get collision insurance coverage or settle for something less is up to you as long as your coverage meets the minimum requirements for your state and your financing.
While you don’t want to be left short when it comes to your collision car insurance, you also don’t want to be caught up in having much more than you need. Be realistic about the value of your car if it is used and don’t go overboard insuring the value.
To make the best decisions and get the information you need get your quotes for collision insurance by simply providing your zip code.
Collision Insurance vs. Other Types of Coverage
If you are new to getting collision auto insurance coverage or are in the midst of trying to change policies you may realize it can be a bit confusing. Luckily it doesn’t have to be as frustrating as you may think. The best way to make this task less tedious and overwhelming is to get an understanding of what collision car insurance is when compared to other kinds and what it is you need. Aside from that, getting free quotes to compare rates for collision insurance coverage and other policies will help you make sense of it all.
An Overview of Insurance Policies
First and foremost you have to get coverage that meets the minimum requirements of the state where you live. In order to be behind the wheel of a car legally in your state, there will be some minimal amount of insurance you must have, which varies from state to state. If you have moved recently then it is especially important to make sure you are abiding by the regulations of your new state.
Also if you have a vehicle that is financed you will have to ensure that you meet the minimum requirements for collision car insurance or other types of coverage as outlined by the lender. Otherwise you can decide what type of car insurance policy to get but should know what exactly is available to you.
Liability Insurance – This is the absolute minimum type of coverage a driver can have, and most states require a certain amount of liability car insurance coverage. Whether or not you want to go above and beyond the minimum as set by your state is up to you. This policy covers the damages or medical bills caused to another if you are the driver at fault in a collision. Your own expenses, however, will not be covered. This is ideal for drivers who have a car that is not financed and is probably not valued high enough to be worth covering for replacement and if you have health insurance in case you suffer any injuries.
Collision Insurance – Having a collision auto insurance policy means that in the event of an accident your vehicle and the vehicle you collide with will both be covered. For some policy providers this will include medical expenses for all parties involved as well. You should, however, find out if your collision car insurance will include covering your car if you have an accident in which your car hits a structure, animal or something other than a car.
Comprehensive Insurance – Many drivers choose to have either collision insurance coverage, comprehensive insurance or both. While collision car insurance takes care of you in the event of an accident, a comprehensive auto insurance policy is meant to take care of just about everything else that could happen to cause damage or loss of a car. Just make sure to find out what all is actually included in your comprehensive policy instead of assuming. For example, some policies include coverage for acts of God while others do not. Storm damage, natural disasters, fire and even theft are all things comprehensive car insurance often covers.
No Fault Insurance – In some states, no fault insurance is the required type of policy, though a driver can choose to add on with collision car insurance coverage or comprehensive auto insurance. This type of policy is meant to cover both sides of an accident regardless of who is at fault. In the long run it can often times save drivers money as the premiums may be lower. No fault insurance results in a limited amount of lawsuits needed to settle the expenses after the accidents. The less money insurance companies have to spend on legal expenses, the less they charge for premiums.
Deciding between Collision Insurance and Other Kinds
After making sure you meet the requirements of your state and your car finance lender if applicable, the rest is up to you. Some people prefer to have the most insurance possible so that if tragedy does strike the driver has very little to worry about or take care of when it comes to paying for damage, repair, replacement and medical bills.
Keep in mind in some accidents you could also be liable for costs of someone’s personal property such as their home. Additionally you could be financially responsible for public property expenses if you were to hit something such as a guardrail or light pole. Get you collision auto insurance quotes now by just providing your zip code.
