Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
A collision with another car isn’t the only risk you run on the road. To protect your vehicle from some of the other dangers found on and off the road, you may want to consider comprehensive car insurance.
Comprehensive coverage typically kicks in to help you cover the cost of repairing your car after damage from anything other than a collision with another car. You can think of comprehensive car insurance as protection against some of the more unexpected — and uncontrollable — damages that can happen.
Damages covered by comprehensive insurance can include:
You’ll need a different policy type for other kinds of damages, including:
Because comprehensive typically covers your car for anything other than an accident, you’ll need other types of insurance for everything else. For example, third-party liability insurance pays for damages you may have caused to another driver in an accident, and collision car insurance covers your car repair bill.
When you combine liability, comprehensive and collision policies, you get what’s called full-coverage insurance.
Guide to car insurance coverage
Unlike third-party liability insurance, you’re usually not legally required to have comprehensive coverage. One exception to that is Manitoba, where people are required by provincial law to purchase it. However, even if you’re not legally required where you live to have comprehensive coverage, that doesn’t mean you won’t need it, or that you shouldn’t otherwise get it.
You might want to opt for comprehensive insurance if:
The biggest reason you might want to pass on comprehensive insurance is the value of your car. If your car isn’t worth much, it could cost more to keep up insurance than it would to just put aside money for repairs or replacement.
A good way to tell if your car is worth enough to get comprehensive coverage is to compare the cost of your annual premium and deductible to your car’s value. If the premium and deductible combined are more than your car’s worth, you may be better off without.
The average cost of full coverage car insurance runs around $264 per month, or $3,168 every year. In car insurance terms, full coverage means all provincially-mandated coverage as well as comprehensive and collision.
Some insurers also offer roadside assistance for free with comprehensive coverage, which is an added plus. The best way to find the cheapest comprehensive policy is to compare quotes from a few companies.
Comprehensive coverage comes with a deductible. You’ll choose how much you want your deductible to be when you’re buying insurance.
To decide what your deductible should be, weigh how much car repairs could cost against how much you’re willing to pay out of your own pocket. The higher you set your deductible, the lower your insurance premiums will be.
You always park your car on the street after coming home from work. One night, a tree falls on your car, smashing the hood of your car. You’re now stuck with a repair bill of $5,000.
Luckily, you have comprehensive coverage. After you pay your $500 deductible, your insurance covers the additional $4,500 for your car repair.
Liability insurance encompasses two parts: bodily injury liability and property damage liability. If you’re at fault in an accident, you’re liable for the cost of damages to someone else’s property, as well as the cost of medical care the other driver might incur. Liability does not cover any of your own personal expenses.
While liability covers the cost of injury to other drivers and their property, comprehensive ensures that you’re covered for the expense of replacing or repairing your own vehicle and damages that aren’t within your control an aren’t related to a car accident. Some situations that are covered under comprehensive include natural disasters, fire and theft.
Pros
Cons
Pros
Cons
Comprehensive coverage offers protection against non-collision auto damage. It can offer peace of mind knowing you’re covered when the unexpected happens. To find the best price, compare different insurers.
Your eligibility and rates will depend on the type of cancer you had and your current health. Compare providers and learn what to expect.
Think of this as a one-year contract with your life insurance company.
Consider aha insurance if you’re searching for a simple, affordable and fast home insurance solution.
aha car insurance is an optimal solution for individuals in Ontario that want quick, stable coverage.
Onlia is a solution for homeowners who want a quick application process and a hassle-free quoting experience.
Onlia auto insurance is a favourable solution for individuals that want quick, easy-to-understand coverage.
All Capital One Mastercard credit cards in Canada offer car rental insurance. Find out how this feature works and compare cards offering it here.
Get up to 4% cashback on your everyday purchases, perks such as travel insurance and access to airport lounges with this premium credit card.
Enjoy comprehensive travel and mobile phone insurance, and earn more rewards when you shop for deals in the Brim Marketplace.
Enjoy multiple forms of insurance and a top return on points with this premium credit card.
