Locating quality collision coverage shouldn’t have to be a hassle.
Let’s face it. The last thing anyone wants to have to worry about after a bad accident is if they’re going to be taken care of.
What is Collision Coverage?
So what exactly is collision coverage? Simply put, collision insurance covers any damage to an owner’s vehicle, not the other individuals involved in a crash. Collision insurance is also optional. With that said, taking advantage of collision coverage can go a long way in helping one to feel secure in the case of an accident.
For driver’s who are looking to be at ease when out on the road, collision coverage is perhaps the best option which is available.
Why Should I Add Collision Coverage To My Policy?
A driver may think he or she is the world’s best driver but ultimately it doesn’t matter. An accident can occur anytime, anywhere. Because of this, adding collision coverage to an insurance policy is the first step a driver can take in order to ensure they will be probably compensated for any damage their vehicle incurs in an accident.
In many accident cases, both drivers may disagree who is and isn’t at fault. This can lead to a lengthy court battle. With that said, utilizing collision coverage can allow a driver’s insurance company to repair the vehicle and then overtake the claim against the other driver involved in the accident. Additionally, it’s ethical practice for an insurance company to pay an individual part or all of their deductible back, but they’re not legally bound to do so either.
There are also situations in which a driver can be involved in an accident in which the other driver has no liability insurance. Because of this, suing the other individual would likely prove to be fruitless. On top of that, an auto policy’s uninsured motorists coverage may not cover all the damage a vehicle incurs. With that said, collision coverage can.
One final detail to note is that despite how new a vehicle may be, or how good of shape it’s in; the insurance providers is only obligated to pay up to the car’s value. What this means is its value is based on the market value of the vehicle prior to the accident, without considering the salvage value of the vehicle which was damaged.
Will Collision Coverage Increase My Insurance Premium?
When it comes to down to it, the amount of money a driver’s collision coverage policy provides, along with its cost, ultimately depends on the vehicle and the value of it. A premium is going be much more for an expensive vehicle, vehicles which may be accident-prone, easily damaged, stolen often or difficult to fix. Likewise, those vehicles which are known for being safe and durable will generally require less to insure.
In the end, what a driver will be compensated for an accident centers around the extend of the damage which occurred. It doesn’t matter if the parts used were new or refurbished.