Comprehensive insurance covers the cost of damage done to your vehicle or home that was neither your fault nor the fault of another party. The damage covered by this type of coverage plan would include natural disasters, theft, vandalism, animal damage, harsh encounter with falling objects (branch, roofing material, etc.), and so on. Because many of these damages are so common, the benefits are unlimited for those who take advantage of comprehensive insurance. This can be especially important if your car or home is new and relatively expensive. The damages done to a more expensive car or home tend to cost more to repair, which is why a good comprehensive coverage plan would help you out tremendously in this situation.
You might also want to consider the area in which you live. For example, if you live in Florida where tropical storms and hurricanes can hit on a regular basis, you are twice as likely to need the benefits provided by comprehensive insurance. In terms of theft and vandalism, you might want to consider the crime rates in your area as well, since these often determine the likelihood of the same damages happening to your home or vehicle.
The benefits of comprehensive car insurance become more obvious when you go to file the insurance claim. Your insurance company will examine the damage, subtract your deductible, and pay off your claim according to the coverage limit you set up when you first signed up for the plan. When put in perspective, this can end up saving you tens of thousands of dollars to replace or repair your vehicle or home, which is a huge relief for most people. Although comprehensive insurance certainly has its benefits for damages that may happen without anyone to blame, you should always have an additional insurance plan to cover you in case of an accident where you or another party is at fault.
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