Comprehensive automobile insurance is for claims which result in anything other than an accident. The type of automobile insurance which is normally a part of full coverage is called comprehensive and collision. Individuals can seek a claim that falls under comprehensive when it pertains to a broken window or stolen car stereo or damage resulting from flooding or fire. As with collision coverage and liability coverage, the premium will either be higher or lower in part due to the deductible amount. So yes, there is a deductible on comprehensive auto insurance but the amount is dependent on consumer preference.
Whether speaking in terms of health insurance or automobile insurance, deductibles always have an inverse relationship to the cost of premium payments. The higher the deductible the lower the premium amount which, depending on the person and the situation, can save thousands of dollars in additional insurance costs over many years. For consumers who rarely make auto insurance claims, high deductibles would be the correct decision to save money. Keep in mind, comprehensive auto insurance coverage will have certain provisions and exceptions outlined in the policy. Be sure to read your policy thoroughly as it may alter your purchasing decision if you find some things are not covered or you may make more claims than you anticipated. A higher deductible would make that situation cost prohibitive.
For consumers driving older vehicles were the blue book has a relatively low value it is often recommended by insurance professionals to drop full coverage altogether. Comprehensive and collision coverage would be unnecessary in the event of fire damage or a collision because in these situations the car is likely to be declared a total loss and a check will be cut. Every state has mandatory insurance coverage to operate a motor vehicle but the bare minimum of coverage normally only includes liability. Liability coverage is specifically meant to protect other individuals and drivers should the operator of the vehicle be found at fault. If however you have a newer automobile it is likely that not only will the titleholder, often a bank or credit union, require comprehensive and collision coverage it is also a smart thing to do generally speaking.
A higher deductible of comprehensive auto insurance not only limits the number of claims likely to be filled by the policyholder but it also means that when claims are filed the insurance company won't have to pay as much. This is an important consideration because higher deductibles discourage claims as the consumer pays for more minor repairs out-of-pocket. Having a lower deductible on comprehensive auto insurance might sound like a good idea but if it results in more claims it can also lead to increases in insurance premiums. There is no concrete policy as to what constitute excessive claims but insurance companies will be unlikely to absorb excessive claims for any extended amount of time. Every claim under an insurance policy is tracked and if it is considered excessive it could make it more difficult to switch insurance companies in the future. Even if you are successful you're more likely to pay higher auto insurance premiums.
Yes, there is a deductible on comprehensive auto insurance and most insurance companies will advise a high deductible to keep premiums low. If a consumer experiences a broken window or stolen two hundred dollar car stereo it is often less expensive over the long run to have a higher deductible and pay for minor repairs out of your own pocket. Consumers who put a claim in to an auto insurance company every time they turn around will inevitably pay more over the long run.