What is comprehensive car insurance?
Motor vehicle insurance is a type of car insurance that covers damage to your car for a variety of reasons, including collision. Auto insurance will cover your vehicle if it is damaged by hail, injured by a collision with a deer, spray-painted by a vandal, damaged by a break-in, or crushed by a collapsing garage, among other causes.
Key guidelines when taking out comprehensive insurance
- Застраховката автокаско е предназначена да плати за ремонти на вашия автомобил, причинени от неща, включително от лек удар или катастрофа.
- If you are about to buy a vehicle, it is highly recommended that you take out comprehensive insurance.
- Buying comprehensive auto insurance may not make financial sense if you are driving an older vehicle that has already lost significant value.
- Comprehensive auto insurance covers damage to your vehicle from animals, falling trees, natural disasters, theft and vandalism. It does not cover damage to other vehicles or people.
- Raising your auto insurance deductible can help lower your premiums.
Advantages of motor insurance
Comprehensive car insurance protects you financially from theft, natural disasters and weather-related damage. This insurance means you won’t have to pay out of pocket if a tree falls on your car or a thief breaks your locks.
- Comprehensive auto insurance coverage protects you against theft, weather-related events, and other important things out of your control.
- Застраховката автокаско покрива „непредвидени събития“ като влизане с взлом или счупени чистачки на предното стъкло поради градушка.
- If you own a new car and live in a high-crime area, comprehensive motor insurance will cover damage caused by break-in or theft.
How does motor insurance work?
Like other forms of car insurance, auto insurance covers part or all of the repairs if your car is damaged. The vehicle owner may have to pay a portion of the cost, known as a deductible. The insurance payment can be used for repairs or for a new vehicle.
Do I need to take out motor insurance?
It depends. If you finance or lease your car, your lender will usually require you to have comprehensive insurance. Once your car is paid off, comprehensive car insurance is usually not required.
However, you should consider what you would do if a tree fell on your car or it was stolen. Without auto insurance, could you afford to replace your vehicle or pay an expensive repair bill? If the answer is no, you should consider auto insurance.
