Do you know what comprehensive coverage does or why you even need it? For many Frederick residents, this is a question that they cannot answer.
Thankfully, our Wellspring Insurance Network Inc. team has put together a short post to help you understand. Here is what you need to know about comprehensive coverage and why you need it.
What is Comprehensive Coverage?
It is important to understand what your car insurance’s comprehensive section covers in the event of a claim. In most cases, it protects you against so-called “acts of nature” including fire, storm damage, and weather-related events. Theft and vandalism are also listed perils under your comprehensive coverage. Should you experience a comprehensive loss, all you would have to pay to fix your vehicle or replace a stolen vehicle is your deductible.
Why Do You Need Comprehensive Coverage?
Comprehensive coverage is important in that it protects you from having to pay for damage to your vehicle due to incidents that are largely out of your control. If your vehicle is newer or you’re concerned about having to pay out-of-pocket to repair or replace your vehicle if it is stolen or damaged by weather, you should consider adding comprehensive coverage to your policy.
Are You Required to Carry Comprehensive Coverage?
In most cases, you are not required to carry comprehensive coverage on your auto insurance policy. However, there is an exception. If you have a loan or lease on your car, you’ll need to discuss with your lender whether they require you to purchase this type of protection.
Wellspring Insurance Network Inc. is proud to help residents of Frederick, MD and surrounding areas with all of their auto insurance needs. Please contact us today for a no-obligation coverage review.