Having your car fully insured is one of the best ways to protect yourself from being completely out of luck if you were to get into a crash and needed to buy a new car. Here are just a few of the many reasons why a comprehensive insurance policy might be the best coverage to have.
1. If you have a loan out on your car, it is probably required.
In nearly every case where a vehicle is financed, you are going to be required to have full coverage on the car. This is a rule to make sure that the financier is covered in case the car ends up getting destroyed. You will find that this is the rule almost all throughout California, and especially in a crowded area like LA. For the most part, a dealership or bank cannot come after you for any difference between what your insurance would pay, and what you still owe on the loan.
2. Need your car for work? Better have it fully insured.
Some people absolutely need a vehicle either to get to and from work, or for their work itself. If you don’t have full coverage on your car, and you end up causing an accident that is your fault, you may quickly find yourself without a way to get from point A to point B. With comprehensive insurance, you will at least get a check for the value of the car.
3. Be covered if someone hits you who is uninsured.
An uninsured driver can end up being your worst nightmare if you get into an accident that they cause. While you can almost always go to court with a civil case and win a judgement against them, there still exists the very real possibility that since they did not have car insurance, they may not have much in the way of other assets or cash. If they were to decalre bankruptcy, or they just had no way of paying you, you would be out of luck. With full coverage, you will at least get the value of your car, and most of your medical bills paid.
4. Don’t be a victim of a hit and run.
Unfortunately, there are people out there who, if they get into an accident, will do everything they can in order to skirt responsibility. Someone who majorly damages your car, but has their car relatively unscathed, may decide that they would rather not give you any information or wait around for the police. With only liability insurance, you are probably going to end up only getting the scrap value for your car. If you have full coverage, or a comprehensive plan, you will probably be covered.
While buying full coverage will be more expensive than just buying liability coverage, you should recognize that you will keep yourself better protected from the millions of drivers in Los Angeles, and you will be covering yourself in case your car gets destroyed in a fire, flood, or something else that isn’t necessarily an auto accident.