Commercial Auto Comprehensive Coverage

Comprehensive insurance coverage is one of the three options you can have as part of your overall physical damage commercial auto insurance coverage policy. Comprehensive coverage provides a broad level of protection beyond collision, by protecting you against losses caused by non-collision events.

Non-collision damage events that could by covered by your comprehensive insurance include:

  • Fire
  • Theft
  • Vandalism
  • Windstorm
  • Glass breakage

Who Needs Comprehensive Insurance?

Comprehensive insurance coverage is ideal for anyone who wants or needs to protect their vehicle as completely as possible. It protects your vehicles from just about everything other than a collision event, and it may be required if you do not own your vehicle outright. Since it is normally packaged with collision insurance, it provides the best overall level of protection against vehicular loss or damage.

If you are still paying off an auto loan or you lease your vehicle, your lender or lease company may require you to carry comprehensive insurance.

Some states restrict the types of vehicles that can be covered with comprehensive insurance, and in those cases you may need to select Fire and Theft with Combined Additional Coverage instead.

Comprehensive Insurance Deductibles And Other Details

When you select comprehensive insurance coverage as part of your physical damages policy, you will need to choose a deductible amount. The deductible is the amount of money you will have to pay out of your own pocket if you ever have an insurance claim. You pay the deductible amount and your insurance policy pays any damages above and beyond that amount.

You are free to select a deductible as low or as high as you’d like. The higher your deductible is, the lower your insurance policy payments will be. To get the best balance, choose a deductible that is comfortable for you to pay without hardship.

Part of setting up your comprehensive insurance coverage is submitting a statement that is your best estimate of how much your vehicle is worth. Referred to as a “Stated Amount,” this estimated value should take into consideration the current age and condition of your vehicle. Also factor in additional equipment if you have permanently attached it.