I’m not sure about all state’s insurance requirements in covering an automobile. Most states require a vehicle owner to fully cover a vehicle if it is financed and under a lien. This protects the lien holder as well as the vehicle owner in case of a loss.

In most cases there are three types of vehicle coverage. Liability, which mainly covers personal injury and damages done to other’s vehicles. Comprehensive, which covers, glass breakage, vandalism, theft, damage by nature and animals. Collision, which covers damages to the insured’s vehicle when fault lies against the vehicle owner, or damages caused to the insured’s vehicle by an uninsured motorists.

This article will help explain the value of comprehensive insurance coverage on a vehicle. Once your vehicle is paid off and you hold the title, most states then only require a minimal policy consisting of liability coverage only. To save money most vehicle owners will cancel their comprehensive coverage and collision. Dropping the collision might be a good idea considering the value of your vehicle at the time. Funny thing with an insurance company is, as your vehicle decreases in value, your insurance rates remain the same or possibly increase. That doesn’t make much sense but we’ll leave that for another article. Collision rates are rather high, so if money can be saved, most vehicle owners drop that. Only problem is, if you wreck your vehicle and it’s your fault, then you’ll have to foot the entire bill.

So out of the three coverage’s in a policy, comprehensive is the cheapest of all three. It is a small portion of your insurance coverage bill. In my opinion, it is the best bang for the buck. In my opinion, comprehensive should never be dropped from your vehicle, even after you pay it off. Why? Remember what I said comprehensive pays for? THEFT! Let’s say you just paid off your vehicle. It’s four years old? It was $25,000 new. Now it’s worth about $10,000, but you hold the title. It’s all yours. Until some criminal element decides they would rather have your vehicle than you. Now all you have is a piece of paper saying you own a stolen vehicle. You’re out your vehicle and since you dropped the comprehensive coverage, you have no protection. If you still had comprehensive coverage, your insurance company would be writing you a check for that $10,000. For a few dollars a month, you have that peace of mind, you are protected against theft, or at least, you’ll be compensated. Keep that comprehensive coverage.

You’re driving down the road and a rock flies up from a vehicle ahead of you and cracks your windshield. Thank you comprehensive for my new windshield. You’re driving on a country road and Bambi decides to eat from the other side of the road and slams into your vehicle. Thank you comprehensive for my shiny new repairs. A jilted lover decides to use a screwdriver to let the world know just how much of a jerk you are by inscribing it into your hood. Thank you comprehensive for being my eraser.

Hopefully, now you know the value of comprehensive insurance. Check your policy and call your agent. Get the coverage you need, then drive safely. In the top 10 cheapest car insurance companies, the value of comprehensive policy should be made available to people. The checking over the policy and details is beneficial for the car owner with massive benefits. The information should be stated accurate and true for the desired results for the interested person.