Definition of Comprehensive Insurance
What is comprehensive insurance? What is the definition of the term comprehensive insurance?
There are two types of physical damage coverage that you can buy for your car - collision and comprehensive insurance.
Comprehensive covers your vehicle for any damage that may occur other than from a collision.
Comprehensive insurance may vary from company to company, but it usually covers you for the following:
-Malicious Damage (somebody slashing your tires, etc)
Comprehensive insurance is usually subject to a deductible.
Let's say that the deductible on your comprehensive insurance is $200, and let's say that your vehicle is stolen.
The insurance company determines that you are entitled to receive $10,500 for your stolen vehicle, minus the deductible. This would mean that you would be left with a check of $10,300 to try and buy a replacement vehicle.
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