I get it. Most of us want to spend the least amount possible on our insurance! What does liability-only even mean?
Liability – only coverage will only pay out if you are at fault in an accident. It will pay for the other driver’s injuries and property damage to their vehicle, as well as damage to a building, structure, pole, etc. There is no coverage for your vehicle with this type of coverage.
We usually write older vehicles that aren’t very valuable and wouldn’t cost much to replace. Vehicles that have current damage, like a broken windshield, rust, or previous collision damage that hasn’t been repaired would not qualify for anything other than liability coverage.
There is another coverage that you may want for an older vehicle that is inexpensive. It is comprehensive coverage and would cover glass, theft/vandalism, and hail damage.
If you have a lien on your vehicle, your lender will require you to carry comprehensive and collision coverage, so make sure you don’t remove that coverage to save money!
Be sure to discuss all your coverages with your agent to be sure you have what you want.
How comprehensive is comprehensive coverage? What the heck does that even mean?
Comprehensive coverage for your car, also known as other-than-collision coverage, can be used in a few different ways.
The number one way I see my clients use this coverage is for glass – such as your windshield or back window. In Kentucky, there is no deductible for glass claims, so it will not cost you out of pocket.
Another way comprehensive coverage works is for vandalism or theft. If your ex keys your car or your cousin’s shady friend steals your car and takes it for a joy-ride, the comprehensive part of your policy (if you have purchased it) will be used.
If you have never had a deer run into your vehicle, the damage can be pretty severe. A repair can be thousands of dollars, so you’ll be glad you had this coverage!
Wind, ice, snow can really shake loose old or diseased tree branches. If a tree limb falls on your car, that would be a comprehensive claim. A good tip is to park in the garage when possible and to avoid parking near trees, especially if inclement weather is forecasted.
Hail damage. See tip above.
Lastly, road service is included in this part of your coverage. Keep in mind, if you use your insurance for any reason, including a jump or a lock out, that is considered a claim. If you have AAA or other road service options, you may consider utilizing them as well.
Please find additional information from the Insurance Information Institute. Click on the link below.
