What is comprehensive car insurance?
Comprehensive insurance is optional automobile coverage. It can be used to repair or replace your car when damaged by what the insurance industry calls “all perils.” These include events like fire, theft or falling objects, which is why it is recommended along with collision insurance.
What is the cost of comprehensive car insurance?
The average cost is around $100 to $300 on top of your collision coverage. You will also need to pay a deductible if you file a comprehensive car insurance claim.
The deductible, which is the amount you pay out of pocket before insurance covers the rest, can vary depending on the type and amount of insurance you have on your policy. Some may be as low as a few hundred dollars while others can be $1,000 or more.
While this isn’t a small amount of money for many, it is relatively low cost compared with the thousands of dollars — or even tens of thousands — it could cost to repair or replace your car.
Car insurance coverage at a glance
|What is it?||Do I need to pay more for this?|
This mandatory coverage will cover your costs in
No. Your policy costs and deductible will be
|Comprehensive coverage||This add-on coverage can cover costs to replace
or repair your vehicle in all perils. This includes
theft, vandalism, storm damage, flooding, fire or
damage during transport.
|Yes. Comprehensive coverage costs an average
of $100 to $300 on top of your collision coverage.
|Third-party liability coverage||
This coverage will pay out medical, legal or
Recommended. While certain provinces have
What’s the difference between collision and comprehensive?
If you find yourself in an at-fault accident, your collision insurance will cover damages your car endures. However, if you get caught in a hailstorm that riddles your car with dents, collision insurance won’t help you. If the damage wasn’t caused by a crash, it falls under comprehensive.
Collision and comprehensive are two sides of the same coin. If you never want to personally pay to repair major damages to your vehicle, you’ll need both to fully protect yourself.