Comprehensive Car Insurance Quotes: Costs, Comparison, and When It’s Worth It
Comprehensive coverage is an optional add-on with car insurance policies. While not mandatory like liability, comprehensive insurance can provide protection against damage from theft, vandalism, weather, fire and more. But how much does adding comprehensive raise your auto insurance rates?
This guide examines what comprehensive coverage includes, provides estimated quote costs, and offers tips for determining if paying for comprehensive is worthwhile for your situation.
What Does Comprehensive Car Insurance Cover?
Comprehensive auto insurance helps pay to repair or replace your vehicle if it suffers damage from causes other than a collision. Some common comprehensive claims include:
- Theft
- Vandalism
- Storm damage (hail, floods)
- Fire
- Falling objects (trees)
- Animal collisions
- Glass breakage
Liability only covers damage you cause to others. Comprehensive pays for damage from environmental, animal, and criminal sources. It provides more complete property protection.
Average Cost of Comprehensive Car Insurance
Comprehensive premium costs are influenced by factors like:
- Vehicle value — More expensive cars cost more to insure
- Location — Areas with more claims cost more
- Deductible — Higher deductible brings lower premium
Here are estimates for average annual comprehensive premiums:
Car Value$500 Deductible$1000 Deductible$10,000$150/year$130/year$20,000$380/year$330/year$30,000$690/year$600/year
Expect to pay $100 to $200 extra per year for a $500 deductible policy depending on your car’s value. The higher the deductible, the lower your premium.
Comparing Quotes for Comprehensive Coverage
Since each insurer calculates rates differently, compare quotes to find the best comprehensive policy rate for your situation. Get quotes from 5+ companies for an accurate comparison.
To get the most accurate quote:
- Inform insurers your car is paid off (no lienholder). This lowers rates.
- Ask for a quote with both $500 and $1000 deductibles. Compare costs.
- Provide your driving history and any anti-theft devices. This may earn discounts to lower your quote.
- Give specific vehicle details like year, make, model, mileage, and condition. All impact premiums.
Once you receive and compare comprehensive quotes, you can better determine if the extra expense is justified.
When Does Comprehensive Insurance Make Sense?
Comprehensive coverage is optional for a reason — the additional premium may not always be worthwhile. Here are some guidelines for when comprehensive is likely worth the cost:
Newer vehicles
Comprehensive pays for repairs or total loss replacement. This protection is more valuable for new cars with higher replacement costs.
Areas with higher risk
If you live in regions with more animal collisions, extreme weather risks, or high crime rates, the likelihood of a comprehensive claim goes up. The coverage provides more value.
Cars with existing damage
If your car already has cosmetic damage like dents or chips, comprehensive covers further damage from things like hailstorms. It protects your asset despite existing imperfections.
Older luxury vehicles
Certain brands retain enough value even at higher mileage that comprehensive helps avoid larger out-of-pocket repair costs to protect resale value.
When Can You Go Without Comprehensive Coverage?
On the other hand, comprehensive is potentially an unnecessary expense for vehicles meeting this criteria:
Older cars with low values
Comprehensive premiums can exceed 10% of a car’s book value annually. The payout would be very low in a total loss, so coverage is less useful.
Good condition used cars
For older cars still in great shape, you may decide to take the risk of paying repairs yourself rather than adding comprehensive premiums.
Multiple vehicles
Some choose comprehensive only on their newest car. Older vehicles go liability-only to save on total insurance costs.
Good self-insurance fund
If you have savings to pay moderate repair bills yourself, you can occasionally skip comprehensive.
Weigh the scenarios and thresholds where the peace of mind is worth the extra spend. Consider dropping comprehensive when values dip below $3,000-$5,000.
Tips for Lowering Comprehensive Insurance Rates
While comprehensive premiums are generally low, you can take these steps to potentially lower your costs further:
- Raise your deductible level as high as affordable
- Inquire about discounts like multi-policy, protective device, age 55+, good student
- Ask about lower usage categories or mileage plans if you drive fewer than 7,500 miles/year
- See if comprehensive can be bundled with home or renters insurance for savings
- Maintain good credit history which often factors into premiums
- Drop comprehensive on older vehicles once they fall below threshold values
Every bit helps chip away at the costs. But avoid skimping too much on protective coverages.
FAQs
Is comprehensive coverage required by law?
Comprehensive is optional. Only liability insurance is legally mandated. Lenders may require comprehensive while financing a vehicle.
Can I get comprehensive-only without also buying collision?
Most insurers require you carry collision if getting comprehensive since the two coverages complement each other.
Do comprehensive claims increase your premiums?
Comprehensive claims generally don’t impact your rates. But multiple thefts may signal higher risk for insurers.
Does a higher comprehensive deductible always save money?
While premiums are lower, make sure to choose a deductible amount you could comfortably afford to pay out-of-pocket if a claim occurred.
Can comprehensive insurance cover a stolen laptop in the car?
No — comprehensive only covers damage to the vehicle itself. Renters or homeowners insurance would cover stolen personal property.
Understanding exactly what comprehensive insurance quotes include and typical costs in your situation makes deciding on coverage smarter and simpler.
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