What Policy Options Cover Vehicle Damage?

Should the owner of a car, truck, van or SUV pay for coverage of vehicle damage? Most state laws do not require possession of such coverage. Still, some companies that lease vehicles do expect their customers to purchase such coverage.

What choices are available to a vehicle owner that wants the vehicle’s driver to carry some type of coverage for vehicle damage?

One option is collision coverage. That covers damage caused by any accident, including a car-on-car accident. It also covers an incident where a car happens to hit an immovable object. It does not cover an incident where the driver has hit an animal.

A second option is comprehensive coverage. It covers damage not caused by an accident, such as damage caused by vandalism or natural forces. It also covers the loss of a vehicle due to theft. In addition, it ensures coverage, if the holder of the option were to hit an animal.

Understand that neither of the options mentioned above guarantees payment of money as reimbursement for medical expenses. Furthermore, neither of them can be used to compensate the victim of an accident, one in which the policyholder was the at-fault driver.

How can a vehicle owner assess the worth of either option?

That owner would need to study the size of the premium and the size of the deductible. If the owner were not financially ready to handle those payments, then it would not make sense for him or her to buy either option. The owner of any vehicle should also consider 2 additional factors.

–What is the value of the insured vehicle? An old second-hand automobile might not be worth the expenses associated with obtaining coverage for property damage. Of course, the owner would need to buy liability coverage.
–On what sort of roads would the vehicle’s driver be apt to take that set-of-wheels?

Would it be passing over roads in an area where there were lots of wild animals? If that were to be the case, then it would make sense to buy comprehensive coverage.

Where would it be parked? Would it be in a location where theft of cars or car parts happens frequently? If that were true, then, again it would make sense to buy comprehensive coverage.

A warning for those that buy collision coverage

Sometimes, the assistance by Personal Injury Lawyer in Cambridge is not needed, during an effort to obtain the money promised by collision coverage. For that reason, a car owner might judge an accident as minor, and not one that could cause an injury to the driver or any passengers. Still, there would be no guarantee, regarding the absence of injuries. So, utilization of collision could result in overlooking an injury.