All of us may have a car or vehicle. There are so many risks of having something bad with your car, and collision is one of that. What is collision insurance? When your car has a collision with any other car or object then the insured person, with collision insurance get a claim over it. It all is related with the cover for the claim of your compensation when the car collision occurs. After having a cheap collision insurance of your car, whenever your vehicle is damage in an accident, collision insurance is an optional coverage, that pay the amount of repairing or replacing it.
What collision policies cover and don’t cover?
As you read that collision insurance helps in paying the cost of repairing or replacing the vehicle when a collision occurs and in the following conditions:
- Collision with other car
- Collision with any object like, tree or wall or any fence.
- In an accident involve rolling or falling of car.
But not in all the cases, the collision insurance covers the claim. There are some of the situations wherein the collision car insurance doesn’t cover the claim of compensation. These are:
- When your car doesn’t get damage while not driving.
- Damage to another person’s vehicle.
- Medical bills to conform, your or another person.
Deductibles and limits of the coverage
There is an amount of premium that you have to pay before your coverage in a regular basis. The amount that you have paid before the coverage of your collision insurance, that helps in the coverage of your insurance is the deductibles.
Also there is an amount of limit. This amount is exactly equal to the actual cash value of your vehicle. And that amount of limit is the maximum amount, that your insurance policy gives you at the time of coverage due to collision of your vehicle.
When to buy a collision coverage insurance?
What is collision insurance? Is now clear, but when you have to take a collision insurance is a thing to know. So that you can get the actual benefit of the collision insurance.
There are some persons who owned a car on the basis of lease than you can’t get any collision insurance. The insurance only paid the amount equal to the amount paid by you for your car. The insurance policy claims the amount only when you have paid an amount for your vehicle and also have a collision insurance for your vehicle. The time when you get you vehicle by paying off for it, then you have a choice of getting collision policy. The time when you owe a vehicle from money then you are allowed to take a collision coverage insurance under the policy of it.
This coverage can help you to get covered for your vehicles damage or replacement, in the case of any accident with any other car an any object, but the coverage policy only beneficial to you when the vehicle belongs to you and the policy is for the coverage of your vehicle only.
|Car Type||Basic Liability||With Comprehensive||With Comprehensive and Collision||Yearly Rate Difference|