Should I Drop Comprehensive and Collision Coverage?

Renters Insurance Customers With Car Insurance
Our renters insurance policy holders that also have car insurance with Effective Coverage often ask us if they should drop collision coverage from their policies.  learn how to make this decision.

If you have an older vehicle, you may also be thinking about dropping comprehensive and collision coverage from your policy to save money.

Before you do drop either comprehensive or collision coverage, you must understand exactly what the coverage provides.  If after reading this article you need additional advice, contact Effective Coverage for a policy review.  There just might be more practical ways to save money on your car insurance.

What is comprehensive coverage?

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Comprehensive coverage pays for damage that occurs as a result of something other than an accident, like weather damage, hitting a deer, theft or vandalism.  A hail storm is a great example of an instance where comprehensive coverage is critical.  After a hail storm, you realize to your dismay that your car has 30 small dents on the hood, roof, and trunk.  Your auto policy does provide coverage, but you will have to pay your deductible.

What is collision coverage?

This is the easy one to explain.  Collision pays for damage that occurs during an accident.  If you hit another car, another car hits you, or you hit a fixed object, collision will pay for damages to your vehicle.  You should have collision coverage if you have a new car that is expensive, you have a loan on a car, or you cannot afford to repair the vehicle in the case of an accident.

How much does comprehensive and collision coverage cost?

Collision is one of the more expensive types of coverage, but comprehensive is on the lower end of the price spectrum.  Before you drop the coverage entirely, consider raising your deductible.  If you feel comfortable paying a little more in the event of a claim, raising your deductible is an easy way to save some money on your insurance premium.  You can also try bundling your car insurance with your renters insurance policy to get a savings on both.

If you would like a complete review of your auto insurance insurance policy, call an Effective Coverage team member (800) 892-4308 or start your quote online.

We’d be happy to help you find out if you are getting the best price and the best coverage possible on your insurance. Submitting your information takes only seconds and could potentially save you quite a bit of money.

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