Understanding The Differences Between Comprehensive vs. Collision Insurance

By July 18, 2022No Comments

In a Statista Global Consumer Survey on vehicle ownership conducted in the US in 2022, about seventy-six percent of people claimed to have a permanently available vehicle in their house. According to the same poll, 12% of respondents don’t own a car, while 4% drive a company vehicle.

A person with car insurance services in San Angelo

According to a survey, about 5 million car accidents resulted in property loss. According to the same data, car crashes were responsible for 34 deaths and 1.8 million hospitalizations in the same year.

As of 2019, 2.74 million US citizens had injuries from vehicle crashes. While you may feel safe in your vehicle, these figures highlight car insurance’s importance. Car insurance doesn’t only cover you against physical damage as a result of the collision but also pays for your major injuries and losses.

Vehicle owners in San Angelo and other Texas towns must have car insurance since Texas has the 12th highest rate of fatal traffic accidents.

Most car owners often get confused about whether to get comprehensive or collision insurance. For that matter, San Angelo’s Insurance & Fast Tax Office has compiled a guide to help people understand the key difference between the two types.

Take a look at this guide to learn about the similarities and dissimilarities between comprehensive and collision insurance.

Comprehensive Insurance

Comprehensive insurance is a type of coverage that doesn’t pay for damage caused by collisions. It provides coverage for incidents other than car accidents, such as burglary, vandalism, explosion, falling objects, and animal-related damage. Although comprehensive insurance is optional, your lender may insist on it if your vehicle is leased or you have a mortgage.

According to the III survey, comprehensive vehicle insurance costs around $171.87 annually. Although it may seem pricey, it’s far less expensive than other insurance options.

Collision Insurance

Contrary to property damage liability insurance, collision coverage covers damages caused to your car when it collides with an object like a fence or tree or with another vehicle. It doesn’t cover the repair costs for the other driver’s vehicle.

Collision insurance protects you if another driver’s negligence causes damage to or total loss of your car. If you strike an immovable item, such as a fence or tree, it also helps pay for the repair or replacement of your vehicle.

Single-car rollover accidents are also covered by collision coverage. If you finance or lease your car, collision coverage is typically required, like comprehensive coverage.

As per the III report, collision insurance costs approximately $381.43 annually. It can be a beneficial option for motorists; however, it’s more expensive than most insurance options. Nevertheless, collision insurance could help you save a lot of money. It also benefits you if your automobile is totaled or suffers significant damage in a collision.

A damaged car in San Angelo

Get In Touch With One Of The Most Reliable Insurance Service Providers In San Angelo

At San Angelo’s Insurance & Fast Tax Office, we provide Insurance services in San Angelo, including car insurance, commercial vehicle insurance, condominium insurance, renters insurance, life insurance coverage, and business commercial insurance services.

We can help you choose the right insurance for your car, depending on your needs and budget. We also offer our services in Goodfellow Airforce base and the Lake Nasworthy area in San Angelo. Get in touch with our professional crew to learn more about our premium services.

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