When addressing paying for damages to your own vehicle, your first line of defense against auto accidents is collision coverage. Many drivers believe that they will never be involved in an accident, but research shows that there is a significant chance of becoming involved. Much of this has to do with your particular driving habits. For instance, if you tend to drive late at night, there is likely to be an increase in the number of drunk drivers on the road.
If your vehicle is relatively new, or if it is worth more than a few thousand dollars, it is a wise decision to have it insured against the risk of an accident. Only collision coverage will pay for damage that you cause to your own vehicle, but contrary to popular belief, you can also use it for accidents in which you were not at fault.
Here are two ways in which collision coverage serves you:
- Pays for damage to your vehicle when YOU cause an accident
- Pays for damage to your vehicle in circumstances not covered by other sections of your policy
If you do not have comprehensive coverage for vandalism, fire, theft, etc., then you can typically claim such losses under collision coverage. For hit-and-run scenarios, you can usually claim these losses under collision coverage.
Adding collision coverage to your auto policy will increase the cost of your premium, but the size of the increase will vary from person and vehicle depending on a number of factors such as level of education, age, gender and credit score. It’s best that you gather quotes from multiple insurance providers such as Will Marshall Insurance Brokers, to ensure that you are getting the best deal. Always be sure that you are comparing equal coverage and policy limits when you are getting your quotes from different insurers.
If you would like to learn more about auto coverage provided by Will Marshall Insurance Brokers, feel free to contact us online or give us a call at 705-726-2551.