Get to Know About Collision Insurance
Collision insurance is the answer if you accidentally drove over a curb. This insurance is a type of auto insurance; it will compensate for the damage because of the insured driver’s fault. This insurance type is usually added to the existing insurance as an extension policy to protect from collision incidents.
Keep in mind that collision insurance is different from comprehensive. Collision insurance only covers the damage to your car if you are at-fault accident. Meanwhile, comprehensive insurance will cover the damage that is out of your control, such as a lighting strike, fire accident, or vandalism.
Having collision insurance is optional; however, in some cases, you are required to have collision insurance. For example, if you lend your car to someone, you should ensure your investment. Another example is if you are a risky driver, you must have a collision in case you accidentally drove over a curb.
What’s Collision Insurance Cover and Doesn’t Cover
Before you add collision insurance to your policy, you need to know what they cover and what they don’t cover. Here is a list for you to compare it to.
What they cover:
- The damage when you crashed into another driver’s car.
- Hit-and-run accident.
- The damage when you accidentally drove over a curb or a pothole.
- Crashing inanimate objects, like trees or utility poles.
What they don’t cover:
- Medical payment for you and the person you crashed into.
- Damage from someone’s car you crashed.
- Property inside your car.
- Damage from a non-traffic accident like a lightning strike, fire, or theft.
- Normal Tear-and-Wear.
How Much Does Collision Insurance Cost?
The cost of collision insurance can vary depending on your vehicle, your driving history, the mileage you drive, or even where you live. According to the Information Insurance Institute, the average cost for collision insurance can be up to $290 per year.
You might have a lower premium rate if you have a good driving report. Meanwhile, if you are a risky driver or have an accident report, you may have high rate premiums. You might also consider the deductible. The higher deductible you add, the lower premium you might get.
Commonly, collision insurance is more expensive than comprehensive insurance. Some insurance companies may require you to buy both collision and comprehensive insurance. For instance, if you are a lender or have an active loan, you might insure with both. In this case, you may consider buying full coverage.
In short, full coverage is a combination of liability, collision, and comprehensive insurance. It offers you the benefits, like medical payment, peril and vandalism coverage, or at-fault and non-at-fault accident coverage. In the U.S., the average cost of full coverage is $2,148 per year for a good driver with good credit.
Is It Worth Having Collision Insurance?
The answer can be various for each person. Everyone has different circumstances like financial, driving history, or where they live. For example, If you rent your car, you must buy collision insurance. In that circumstance, collision insurance is worth enough for you.
Keep in mind that collision insurance is likely to complement other insurance. It means that you need other insurance to gain full benefits. For instance, if your car crashes into another car, the collision will cover only the damage to your car, not the other car.
It also happens to liability insurance which only covers damage for the person you crashed. You may discuss this with your agent. They will help you which insurance will fit you well.
How to File a Claim After Accidentally Drove Over a Curb
If you already have collision insurance, you could make an insurance claim. Here is what you need to do after you accidentally drove over a curb.
1. Gather the Evidence
After you get in an accident, the best thing is to check the condition of your car. You may also take pictures as proof; the insurer usually requires this before you make a claim. Take some note of the parts that need a proper fix.
2. Evaluate the Damage
Before you move further to report the claim, you need to evaluate the damage. Is it worth making a claim? If the problem is only a minor part and does not need a proper fix, then it’s not worth it. You can compare it with your deductible. If the repair payment is not different from your deductible, making a claim will waste your time.
3. Contact the Agent
After you contact your agent, they will inspect the damage. Is the problem big or is the repair cash expensive? They will also check your driving history. Keep in mind that several consequences might happen when you make a claim.
For instance, this would affect your no-claim bonus. Some insurers may reward you with a bonus if you don’t claim for a year. Another thing is that when you accidentally drove over a curb, it is considered an at-fault accident. It will affect your good driving records, and also your premium rate.
Where to Find Collision Insurance
Here are some examples of car insurance that provide collision insurance. You may discuss with the agent whether you need collision coverage or full coverage.
1. Geico
Geico is considered the cheapest car insurance company in the U.S. You will have a great experience with this company. They have a reputation for their financial strength. Their policies are various and have a high limit. They also allow usage-based insurance. Moreover, they have a high-rate mobile app.
Geico charges an annual premium rate of $1,308 or $109 per month; it is 24% lower than the national average rate of $1,730 per year.
2. Progressive
Progressive can be a good option for you. This company has various choices for coverage. You can also take advantage of their usage-based insurance. They are accessible online and have good mobile apps.
This company has a 7% lower annual premium rate than the national average rates. For a 35-year-old driver with a good driving record, the insurer charges an annual rate of $1,611 or $134 per month.
Save Your Car After Accidentally Drove Over a Curb!
Now you understand that you can take advantage of your collision insurance after you accidentally drove over a curb. Keep in mind, if you need more coverage, you may consider getting full coverage insurance. Consult this with your agent to find the best benefit for you.