What Is Collision Coverage And What Does It Cover?
When searching for low cost car insurance you will more than likely research different protection options such as bodily injury, property damage, and even uninsured motorist. One other coverage you should consider is collision. It is what will pay for your vehicle to be repaired if you cause an accident. There is usually a deductible associated with it which you will be responsible for paying if you are found at fault. For example if you have a $500 deductible and cause a crash and it is going to cost $5,000 to fix your car, the insurance company will pay $4,500 and you will be responsible for paying $500. Things that will be repaired are broken windows, body work, engine damage and even factory rims and tires. Any aftermarket items such as stereos and custom rims will not be covered unless specified in the policy. Most companies will cover these types of items for an additional premium.
How Much Does Collision Coverage Cost?
The cost of collision coverage will vary with every policy because there are a lot of factors involved in evaluating the risk associated with each vehicle and driver. Things like driving experience, driving record, type of vehicle and area where you live will be considered when setting the price of your policy. So if you have a speeding ticket or an accident on your record you will more than likely pay more than someone who has no violations. Likewise if you have an expensive luxury car you will have higher premiums than the person who drives a small economy car. With so many factors affecting the cost of your policy it is important to compare rates from multiple carriers to make sure you get the best deal possible.