do i need collision and comprehensive coverage for

by shimoga_prakash » Wed Dec 12, 2012 08:01 pm

do i need comprehensive and collision coverage for my hyundai elantra 2005 which is owned by me.

Total Comments: 3

Posted: Thu Dec 13, 2012 01:54 pm Post Subject:

No you do not. Question... what if someone hits it and does not have insurance? What if you hit someone else? Can you afford to pay several thousand dollars to have it repaired? Choice is up to you. Certainly find out with comp/coll would cost.

Posted: Fri Dec 14, 2012 02:08 pm Post Subject:

Yes, you do. Not unless you're ready to bear all the expenses for vehicle damage.
Not by the state insurance laws though, but for your own safety.
Collision coverage pays for the accidental damages whereas comprehensive coverage pays for other non-collision related damages.
Collision coverage is vital. Even if you're an excellent driver, you can't guarantee for the other drivers on the road. As for the damages caused by other natural perils, your comprehensive coverage will serve its purpose.

Posted: Fri Dec 14, 2012 03:27 pm Post Subject:

Yes, you do.

and

Collision coverage is vital


tcope's answer is more appropriate.

While collision coverage is certainly important for many folks, it is not "vital". No one will die because they don't have collision coverage on their auto. They just won't have insurance company money to pay for the repairs to their vehicle in the event of damage done caused by their own driving activity.

Collision coverage is normally a lender's requirement when financing a vehicle. When the vehicle is paid for, the owner may choose to drop the collision coverage.

If a person understands that the cost of repairs is fully their expense when they do not have collision coverage, that's a decision they make on their own. When a vehicle's value is nearly fully depreciated, it may not make sense to pay for collision coverage, especially with higher deductibles.

Also, when it comes to comprehensive coverage, you may purchase collision without comprehensive, but you cannot usually obtain comprehensive alone. That's not a rule of state law, it's a rule of the insurance game.

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