Dear Reader, If you are considering getting your cars insured, this post will point out the benefits of having a comprehensive auto insurance plan.
What Are Comprehensive Car Insurance Plans?
Comprehensive auto insurance is an automobile insurance plan responsible for covering the insured person against damages caused by both the insured and any other third party.
Comprehensive plans are known for covering unforeseen events like natural disasters, car theft or an accident.
Although they cover more than other auto insurance plans, it is not a necessity that they are more expensive than other car insurance plans.
This car insurance plan comes with a lot of benefits. Some of these benefits are;
Personal Accident Coverage:
This means if you are injured due to an accident in your insured car, the insurance company will be responsible for dropping an average amount of money to help with your medical expenses, depending on what is stated on the terms and conditions of the contract you signed.
Damages Made By Fire:
Another benefit of a comprehensive car insurance plan is that any damages made to your car after a fire would be covered. Fires caused by explosions or lightning are often given coverage under this plan.
Third-Party Liability Coverage:
This plan also has the inclusion of a mandatory part of a car insurance policy. This plan covers injury or damage done to the property of a third party by someone with an insured car.
An accident in a car is damaging not only to the car but to the health and well-being of the person involved in the accident; it can take a lot from the person financially. However, with a comprehensive auto insurance policy, the insurance company will cover the expenses incurred by the damages done to your car after an accident.
It may shock you to know that this plan also covers things like car theft. Finding out your car has been stolen may be too great a terror. A comprehensive auto insurance plan will give you the declared value of your vehicle from when it’s been covered by them, after a car theft.
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This plan also comes with the option of purchasing other additional coverage plans along with your comprehensive plan. These plans however cannot be purchased as a stand-alone plan, they are often included to help you add a bit of personalization to your auto insurance plans.
When natural disasters like flooding, earthquakes and the like happen, a comprehensive auto insurance plan also covers the damages incurred from a natural disaster.
Coverage Of Damages Caused By Vandalism:
Should your car ever be vandalized, a comprehensive auto insurance policy also has coverage of around N100,000-N800,000 depending on what deductible is on your insurance policy.
There Is Coverage For Damages Incurred From Falling Objects:
Another benefit of a comprehensive auto insurance plan is that it covers accidents like a flying object ramming into your car or a tree falling on it, also depending on the deductible on your auto insurance plan.
Coverage Should You Get Into An Accident Caused By An Animal:
It should come as little surprise that some accidents are caused by attempting to avert your car from killing an animal. A comprehensive auto insurance plan covers incidents like this. However, this coverage can only happen if the accident occurs when another vehicle is involved. The insurance plan will cover not only damage done to your car but will also cover you and the passengers in your car if there is any.
Comprehensive car insurance
Other reasons why having a comprehensive insurance plan is beneficial to you are;
If you take a loan against your car, in comprehensive auto insurance, it is a normal practice to ask for a full-coverage plan as well as aid in protecting the collateral of the bank.
Most of these plans have legal backings that may allow anyone to drive your car. Unlike other insurance policies that may withdraw coverage if an accident occurs in your car without you being involved, a comprehensive auto insurance policy still offers full coverage.
A lot of comprehensive auto insurance plans have policies that may cover your car rentals in certain situations.