If you have a car, you have liability insurance as part of your auto insurance coverage. This is required in most states. As you are probably aware, liability covers damage that may happen to other people, cars, or other property if you are driving and end up in an accident.
What you may notice is that liability coverage says nothing about your own damages in an accident. That’s where collision insurance comes in.
What is collision insurance? It is an insurance policy that pays for damages to your car in the case of a collision. It does not matter who is at fault, although the insurance company will probably sue to collect from the other driver’s liability policy to cover the damages. Either way, your damages will be paid for up to the value of the car.
If the repair costs exceed what the insurance company determines is the full value of the car, your car is considered totaled and you will receive replacement cash value.
Figuring out how much collision insurance you need is a little easier than figuring out liability insurance. If the amount of your coverage meets or exceeds the current value of your car (taking into account depreciation), you are fully covered and have nothing to worry about. However, one thing you will want to think about is your deductible.
There is an amount you will have to pay out of pocket if you are in an accident and need repairs with collision insurance. That amount is the deductible. A lower deductible means a higher premium and vice versa.
You will have to weigh the likelihood of getting into an accident against the cost of your monthly premium. If you are a safe driver, a higher deductible and lower premium will usually be to your advantage — by the time you get into an accident, if you ever do, the amount of money you have saved in premiums may outweigh the cost of the deductible. However, it is impossible to predict when some accidents may happen.
If you wish to protect yourself from the costs of collision damage in Missouri, in areas like Union, Labadie, Pacific, Wildwood, Eureka, and St. Clair, it’s important to find a company with the knowledge and experience to get you the best rate possible. Whether you opt for a lower deductible or a lower premium, you want to make sure you are fully covered while staying within your budget.
David Pope Insurance Services, LLC is here to help. We are constantly scouring our network to find you the lowest rates possible for your auto collision insurance. Furthermore, you won’t have to wait to find out what it is, because we keep flexible hours to make sure we can get a quote back to you right away, usually the same day you request it.
If you’re interested in collision insurance in Missouri, don’t wait. Contact us online now for a fast collision insurance quote today.