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Car Insurance - Collision Coverage

Guest post by: John Clark

Article Overview: Collision coverage is the component of a car insurance policy that covers the cost of replacing or repairing your car if you have an accident. It is typically one of the costliest parts of your car insurance premium. This coverage is not required by state law, but you will be required to purchase it by your lender until your car loan is paid in full.

Car Insurance - Collision Coverage

Collision coverage is the component of a car insurance policy that covers the cost of replacing or repairing your car if you have an accident. It is typically one of the costliest parts of your car insurance premium. This coverage is not required by state law, but you will be required to purchase it by your lender until your car loan is paid in full. The amount of money you will be paid for your car after an accident is the amount of what it will cost to repair your car minus the deductible amount. If the damage is extensive, the most you can receive for your car is the actual cash value, which is based on the age and mileage of the car at the time of the accident. The actual cash value of a car is not a standard amount; most insurance companies will pay you an amount somewhere between the average trade-in value of the car and a car dealer's retail price for that exact used car.

Once your car is paid for, you may want to consider dropping collision coverage from your policy to save money. If your car is more than five years old, you should check a reliable source for your car's current value, such as Kelley Blue Book. If your car is worth more than ten times the amount of the collision coverage premium, then you should keep the coverage. If your car is worth less, then it may be time to drop the coverage. If you decide to drop collision coverage, you should put the money you save on premiums in the bank to cover the cost of repairing your car or buying a new one after an accident.

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  Healthcare is an essential human need. Just as important is finding an insurance company that will give you the great healthcare that you deserve. With so many different healthcare companies sprouting up today, each with its own gimmicks and offers, it can actually be difficult to choose between them all. One health insurance company that you owe it to yourself to take a look at though is Aetna HMO.

Article Tags: car insurance policy, collision coverage, insurance, insurance premium
Referred by: http://www.franchisefix.com/



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