Comp vs. collision deductibles

Collision vs. Comprehensive deductibles

Collision Deductible
This coverage protects your car. It pays for damage to your vehicle resulting from a collision with another car or object, or as a result of flipping over. It also covers damage caused by potholes. Collision coverage is generally sold with a deductible of $250 to $1,000-the higher your deductible, the lower your premium.

Even if you are at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car-minus the deductible-up to the limit of the actual cash value of your car. If you're not at fault, your insurance company may try to recover the amount they paid you from the other driver's insurance company. If they are successful, you'll also be reimbursed for the deductible.

Comprehensive Deductible
This coverage reimburses you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds or deer.

Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage with or without a deductible.

States do not require that you purchase collision or comprehensive coverage, but if you have a car loan, your lender may insist you carry it until your loan is paid off.