A lot can happen to your car in the state of Michigan. Comprehensive coverage can really come in handy on almost any vehicle. Most operating autos are at least worth a windshield replacement and replacing a windshield can get expensive. Comprehensive coverage is a great coverage to have because it covers so many different causes of physical damage. Here are some things to consider if you are trying to determine if you need comprehensive coverage in Michigan.
1. Comprehensive coverage is not a state requirement. You only need comprehensive if it is required by your lender. Tip: Most all lenders require comprehensive and collision coverage at all times.
2. Comprehensive is a required coverage if you want collision coverage.
3. Comprehensive covers anything other than a collision and that is a lot!
4. What is your likelihood of damage? Do you seem to hit a deer every year? Are you constantly getting chips in your windshield from driving on the highway daily? Do you park outside where your car is susceptible to storm damage? All of these things put you at a higher risk of needing comprehensive coverage.
5. What is the cost of comprehensive coverage? Comprehensive tends to be a relatively inexpensive expense on your car insurance policy. Of course, it does vary depending on your driving risk. Get a quote on the cost of comprehensive from your insurance agent.
6. What is the value of your vehicle? One of the perks of driving an old beater car is you get to drop your car insurance down to minimum coverage. Consider keeping comprehensive coverage on your vehicle if paying the low monthly rate is easier for you than coming up with the cash to replace the windshield on your own. Keep in mind though comprehensive usually comes with a deductible. You do not want to have a $500 deductible on a vehicle which is only worth $500.
7. Insurance carriers typically require photos of the vehicle if it is over 20 years old and you want comprehensive coverage. Insurance carriers do this to protect themselves against insuring a vehicle with prior damage. Any damage sustained to the vehicle before the coverage is purchased is not covered.
I would encourage most Michigan residents to keep comprehensive coverage on their vehicles especially in the fall months. Deer are plentiful and can cause a lot of damage. A good threshold to keep in mind is if your vehicle is valued over $3000 it is probably worth keeping comprehensive coverage on, especially if you are a good driver. Young drivers and drivers with bad driving records would benefit more to go without comprehensive coverage.
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