If you’re looking to buy a new car, you might want to consider adding comprehensive vs collision car insurance illinois to your policy. Although this coverage is not required by law in most states, it can help you protect your vehicle against unforeseen events that are out of your control and are usually expensive to fix.
What are the benefits of insurance?
When you have comprehensive coverage, your auto insurer will pay up to the actual cash value (ACV) of your vehicle if it’s damaged by an accident or another covered event. This includes things like fire, theft, vandalism and natural disasters.
How Much Does Comprehensive Coverage Cost?
Comprehensive insurance can be quite pricey, especially for drivers with a high-end vehicle. It’s important to shop around for the lowest rates.
Do I Need Comprehensive and Collision Coverage?
If you have a car loan or lease, your lender or leasing company will require you to purchase collision and comprehensive. This is because they want to protect their investment in case your car is stolen or totaled.
Can I Drop These Coverages?
The answer to that question depends on the condition of your car, how often it gets stolen or is involved in an accident, and if there’s any savings you can make by replacing the vehicle out-of-pocket. However, the general rule is that it’s a good idea to keep comprehensive and collision coverage as long as your car is still in fairly good condition.
