Comprehensive coverage (“Comp”) covers your vehicle, and sometimes other vehicles you may be driving, for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your car if it is stolen, or damaged by flood, fire or animals. It pays to fix your vehicle, less the deductible you choose. To keep your premiums low, select as high a deductible as you feel comfortable paying out of pocket. Coverage is limited to the terms and conditions contained in the policy. This is not required by the state, but if you have a loan or a lease then the lienholder will require it.
Collision coverage (“Collision”) covers damage to your car when your car hits, or is hit by, another vehicle or other object. It pays to fix your vehicle, less the deductible you choose. To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. For older cars, consider dropping this coverage, since coverage is normally limited to the cash value of your car. Coverage is limited to the terms and conditions contained in the policy. This is not required by the state, but if you have a loan or a lease then the lienholder will require it.
