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Comprehensive Car Insurance Guide

Welcome to O1ne Mortgage’s comprehensive guide on car insurance. If you have any mortgage service needs, feel free to call us at 213-732-3074. Our team is here to help you!

What Is Comprehensive Insurance?

Comprehensive car insurance is a type of coverage that protects your vehicle from incidents outside of your control, such as natural disasters and theft. This coverage is typically required if you finance or lease your car, but it is optional if you own your car outright. Many car owners choose to add this coverage for extra peace of mind.

What Comprehensive Insurance Covers

Comprehensive insurance generally covers the following incidents:

• Fire
• Explosions
• Theft
• Damage resulting from theft
• Windstorms
• Floods
• Hail
• Vandalism
• Contact with an animal
• Glass breakage
• Windshield damage
• Falling objects
• Lightning
• Earthquakes
• Violence from civil unrest or riots

What Comprehensive Insurance Does Not Cover

Comprehensive coverage usually does not cover the following incidents:

• Accidents with another vehicle
• Hitting another object
• Your car rolling over
• Wear and tear
• Mechanical problems
• Items stolen from your vehicle
• Liability or medical costs
• Damage from potholes

Comprehensive vs. Collision Insurance

Collision insurance covers damage to your car from collisions with other vehicles or objects. Comprehensive insurance, on the other hand, covers almost everything else that can happen to your car. Collision insurance typically costs more than comprehensive insurance.

Do You Need Comprehensive Insurance?

Comprehensive insurance is not required by law, but it may be a good idea in the following situations:

• You park your car on the street or in a high crime area.
• Your area is prone to natural disasters.
• You frequently encounter animals while driving.
• You drive an expensive car.
• You cannot afford to repair or replace your car if it is stolen or damaged.

If you lease or finance your car, your lender may require you to have comprehensive and collision coverage.

How Much Does Comprehensive Insurance Cost?

The average cost of comprehensive insurance is about $160 per year, but this can vary based on factors like your age, ZIP code, and gender. When getting quotes, make sure to compare the cost of comprehensive coverage across different insurers.

How to Get Comprehensive Insurance

Getting comprehensive insurance is straightforward. You can add it to your existing policy or get quotes that include comprehensive coverage. Make sure to compare the same coverages to ensure you are making a good comparison.

The Bottom Line

Comprehensive car insurance can provide valuable financial protection for your vehicle. While the cost varies, there are ways to reduce your premiums, such as improving your credit score if your state allows credit-based insurance scores.

For any mortgage service needs, contact O1ne Mortgage at 213-732-3074. We are here to assist you!

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