You may find comprehensive auto insurance coverage combined with collision coverage. However, you can purchase comprehensive separately too.
Why do you need comprehensive coverage?
Who needs comprehensive coverage?
However, if your car is over 10 years, you could drop comprehensive coverage. The cost to repair a car that is 10 years or more than 10 years old may surpass the ACV; hence, it is a good idea not to purchase comprehensive coverage for it.
Is there a deductible?
What does comprehensive insurance not cover?
- Your car/vehicle is seized by the government or civil authorities due to any involvement in criminal/illegal activities.
- Radar detectors are not covered.
- Custom furnishings like special carpets, furniture, sleeping facilities, cooking facilities, height extending roofs and other things like murals, graphics or paintings re not covered.
How to find comprehensive auto insurance quotes?
Posted: 17 Nov 2008 08:59 Post Subject: what does comprehensive car insurance cover
The limit is actual cash value, market value. That is, if the cost to repair is more then the value, they will consider it a total loss and pay the value less the deductible.
You want to make sure that coll/comp transfers over to the rental under the situation it's being rented for. I've seen some policies only provide coverage when the rental is obtain as a replacement vehicle while yours is being repaired... not for a rental just to go on vacation and the like.
They are correct... for all intensive purposes the ACV limit applied to a rental being a total loss is a moot point as you are only liable for up to the value of the vehicle. But the rental company may try to stick you with loss of use and there are also some policies that don't provide coverage for this unless you have rental coverage on your own policy. But most rental companies will not pursue a loss of use claim if the insurance is going to pay for the damage/value of the vehicle itself.
Posted: 17 Nov 2008 10:03 Post Subject:
Thanks for your response
Limit of liability section under my policy contract says:
Payments for loss to a covered auto, non-owned auto, or custom parts or equipment are subject to the following provisions:
a. If coverage applies to a non-owned auto, we will provide the broadest coverage applicable to any covered auto shown on the declarations page.
My auto insurance policy declaration page shows Actual Cash Value as limit for my auto. That means insurance company will always pay for damages not exceeding ACV of my auto irrespective of ACV of rental auto.
Do you think it's a better idea to go for Loss Damage Waiver (LDW) coverage offered by Rental Company when you have insurance on an old auto?
Posted: 17 Nov 2008 10:28 Post Subject:
No, your policy will address the ACV of the rental vehicle, not your own.
The limits of your policy is ACV. That coverage applies to the rental, so it's the ACV of the rental.
Posted: 18 Nov 2008 12:34 Post Subject:
You're fine OP take a breath, and be happy about it...all (excepted stated amount policys which yours is not) collision and comp coverage is ACV...if you want to buy the damage waiver buy it, but it's really a waste of money and usually only covers your deductible anyway (read the fine print)....whatever your policy has on it will transfer to the rental car, limits, deductibles coverages etc.
Posted: 18 Nov 2008 08:53 Post Subject: what does comprehensive car insurance cover
Normally, when you have a lien on a car you may buy collision & comprehensive coverage upto the volume of the loan, so that, you receive maximum compensation for the damaged vehicle and can pay-off the loan. However, while receiving the benefit it may only be the actual cash value of the car, which declines fast with time.
When the policy is extending its coverage to the rented vehicle it'll cover it for its actual cash value and not the value of the old car on the policy. Hence, you might not need to worry that the ACV of the old car will apply to the rented vehicle & you may not receive sufficient compensation for it.
Posted: 18 Nov 2008 11:44 Post Subject:
you may buy collision & comprehensive coverage upto the volume of the loanNO simon this is incorrect!!!
so that, you receive maximum compensation for the damaged vehicle and can pay-off the loan.Still wrong...in no way does coll/comp coverage have ANYTHING to do with the lein or loan pay off EVER!
However, while receiving the benefit it may only be the actual cash value of the car, which declines fast with time.Not ''may'' ALWAYS the ACV...
Simon this is a common misconception, and what GAP ins. is for...no company will value a vehicle for the loan pay off..it's the acv only...if a vehicles acv is 2k and their loan is 40k they get 2k period...if the acv is 40k and loan is 2k the bank gets 2k the insured gets 38k...ACV (or comp and collision) have nothing at all to do with the loan amount NOTHING.
Posted: 18 Nov 2008 03:51 Post Subject:
I was confused on this because my policy contract no where say that col/comp will be transferred but instead it says “If coverage applies to a non-owned auto, we will provide the broadest coverage applicable to any covered auto shown on the declarations page” and declaration page show my old car as covered auto with ACV limit.
Thanks everyone for your help on this.
Posted: 18 Nov 2008 11:43 Post Subject:
The actual cash value will be stated in any policy. The agent is correct in saying you will be covered and ok if an accident occurred. Trust me, rental agencies wouldn't allow drivers to leave the lot without enough coverage for their vehicles. This would be too much of a risk for them and increase coverage rates as well.
Posted: 19 Nov 2008 04:57 Post Subject:
Oh! Lori thanks for clarifying my misconception. However, just need your advice…supposedly, I've purchased a brand new vehicle worth of 20k with a lien on it, what would be the amount of collision coverage that I need to carry on it & also the amount of Gap insurance that I may require to avoid being in an upside down condition.
Posted: 21 Nov 2008 12:22 Post Subject: insurance
When I was in my car accident, last year, the damages, for my vehicle, came to $2100.00. I had a deductable of $500.00. According to the Blue Book (?), if I did more than $2600.00 worth of damages, my car would be 'totaled'. I have my 'Full Coverage', through my loan, for my car (Citifinancial). However, I din't have a 'rent-a-car' policy within the loan....Citifinancial just din't have one. I have an older vehicle..a 99 Jeep Cherokee. Have a question........how do banks/finance companies determine the 'value' of cars? I know what the Blue Book says, but, I'm just wondering how THIS money amount is determined.
Posted: 21 Nov 2008 12:50 Post Subject:
The actual cash value will be stated in any policy.Not in a dollar amount Justong, if that is what you meant...the only time an actual dollar amount will be listed is on a 'stated amount policy' which this one is not..it will say the words, 'up to the actual cash value' or some such wording
.Oh! Lori thanks for clarifying my misconception. However, just need your advice…supposedly, I've purchased a brand new vehicle worth of 20k with a lien on it, what would be the amount of collision coverage that I need to carry on it & also the amount of Gap insurance that I may require to avoid being in an upside down condition.Simon all you CAN carrier is the ACV, which of course is less than you paid (more than likely) for a brand new vehicle...if you carry GAP ins. which you should...that will pick up the GAP (if there is one) between the ACV and the loan pay off...I don't think that GAP comes with an amount either, it just pays that balance, there could be some exclusions, like the warranty or if you financed sales tax etc...But all in all most of the time, if you have coll/comp AND gap you should be ok to get the loan paid for...another thing though...it's important to make sure that you aren't paying for GAP if you don't need it...ie, on your 20k vehicle if you only financed 10k, then it's a waste of money to buy GAP because it will never ever pay off...GAP if for people that are upside down...if you owe less than the ACV then GAP would be a waste of your hard earned money
Posted: 05 Jun 2011 10:21 Post Subject: Help
I gave my car to a machanic to fix and he stole it. Will my insuranc company pay for the lost?
Posted: 05 Jun 2011 11:01 Post Subject:
Only if you have comprehensive coverage.
...and see my sig.
Posted: 08 Jan 2012 05:48 Post Subject: Act of nature
Would a garbage dumpster that gets blown off a ramp into your car be covered by the business owners policy the same way a shopping cart that gets blown into your car is covered? Insurance company is claiming act of god but the business forgot to lock the tires on the dumpster.
Posted: 08 Jan 2012 08:39 Post Subject:
Insurance company is claiming act of god but the business forgot to lock the tires on the dumpster.
I guess no one can read my sig... :roll:
if they forgot to lock the tires then I'd see that they would probably have negligence. If they are claiming this was an "act of god" ask them if they know why god forgot to lock the tires.
Posted: 02 Jun 2012 01:23 Post Subject:
if I have comp/coll on my auto....will it transfer to a rental car
Posted: 02 Jun 2012 02:18 Post Subject:
if I have comp/coll on my auto....will it transfer to a rental car
AGAIN... see my sig.
You need to review your policy or call your agent and ask. In most cases, yes. In some cases, no.
Posted: 09 Jun 2012 01:21 Post Subject: Electric damage to car
Will alstate cover if I dud electric damage to my own car by mistake
Posted: 11 Jun 2012 03:52 Post Subject:
Posted: 12 Nov 2019 05:57 Post Subject: Comprehensive & Collision Tips and Tricks
Here is a good video for more information on Comprehensive and Collision Coverage.