Owning a car comes with many responsibilities, one of which is having insurance. Car insurance is a legal requirement and a financial safety net in case of accidents or damages. For this reason, you must have the right insurance coverage to protect yourself and your vehicle from unforeseen circumstances while on the road.
One of the most critical types of car insurance is collision coverage. It’s an optional coverage that pays for the damages to your vehicle in case of an accident but is highly recommended, especially if you own a new or expensive car. It works by reimbursing you for repairing or replacing your car if it is damaged in a collision, regardless of whether you are at fault or not, whether it’s with another vehicle or object, such as a tree or fence, or building. Few people know how it works, so we will discuss the details in this article.
The Benefits of Collision Coverage
When you get collision coverage, you can reap the following benefits:
Coverage of Various Accidents
Collision coverage protects you from a wide range of accidents that could happen on the road. It covers damages caused by collisions with other vehicles or objects or if your car flips over. It also covers damages caused by single-car accidents, such as hitting a pothole or a tree.
Pays for Repairs or Replacements
If you have collision coverage, you can rest easy knowing that your insurance company will pay for the repairs or replacement of your vehicle if it gets damaged in an accident. This can be especially helpful if you have a newer car that would be expensive to repair or replace. Without collision coverage, you would be responsible for paying for the repairs or replacement out of pocket, which can be a significant financial burden.
Flexibility in Repair Shop Selection
Part of owning auto insurance with collision coverage is going to a repair shop that your insurance company recommends. This can be a benefit, as these repair shops are often reputable and have a good track record of providing quality repairs. However, with collision coverage, you also have the flexibility to choose your own repair shop if you prefer. This can be helpful if you have a preferred mechanic or concerns about the quality of work from the recommended repair shop.
Increased Protection for Financed or Leased Cars
If you are financing or leasing your vehicle, the lender or leasing company often requires collision coverage to protect their investment in the car. Without collision coverage, you would still be responsible for paying for any damages to the vehicle, even if you don’t technically own it.
While collision coverage may seem like an additional expense, it can save you money in the long run. Without collision coverage, you would have to pay for the repairs or replacement of your car out of pocket, which can be expensive, especially if you own a new or expensive vehicle.
What Does Collision Coverage Cover?
Collision coverage usually covers any of the following:
As the name suggests, collision coverage covers damage to your vehicle resulting from a collision with another vehicle or object. This can include damage to your car’s body, frame, and mechanical components.
Damages Caused by Uninsured or Uninsured Drivers
Some collision coverage policies also include coverage for damages caused by uninsured or underinsured drivers. This means that if you are involved in an accident with someone who does not have insurance or does not have enough insurance to cover the damages, your collision coverage can help cover the costs.
Damage Caused by a Hit-And-Run Accident
Collision coverage may also provide coverage for damages caused by a hit-and-run accident. If you are involved in an accident where the other driver flees the scene and cannot be identified, your collision coverage can help cover the costs of repairing your vehicle.
Most collision coverage policies come with a deductible, which you must pay out of pocket before your insurance kicks in to cover the rest of the cost. The higher your deductible, the lower your monthly premium will be.
Where to Get Collision Coverage
Collision coverage is available through most car insurance companies. When choosing an insurance company, comparing rates and coverage options is essential to find the best policy for your needs. You can also consult an insurance agent to help you understand your coverage options and choose the best policy for your budget.
The cost will depend on several factors, including your driving record, the make and model of your vehicle, your age and location, and the coverage you choose. Comparing quotes from multiple insurance companies is recommended to ensure you are getting the best deal. Additionally, some insurance companies offer discounts for safe driving, multiple policies, or if you have certain safety features installed in your vehicle, so ask about these discounts when getting a quote.
Collision coverage is an essential type of car insurance that protects your vehicle in case of an accident. For this reason, you must shop around to find the best coverage options and rates that fit your needs and budget. This way, you can drive with peace of mind knowing that you are protected in case of an accident.
If you’re looking for an auto insurance agency in Fort Myers, Bassine Insurance has what you need! We offer comprehensive auto insurance coverage to protect you during undesirable situations for fair prices. Call us today at 239-995-0333 to request a quote!