If you own a car and it’s more than 10 years old, it’s generally not a good idea to get comprehensive coverage. Simple liability coverage will do and it’s a lot cheaper for a car that isn’t worth replacing at face value.
However, there are significant benefits to comprehensive coverage if your car is new enough to make it worth your while. These include:
The ability to cover for risks not included in accident or liability coverage
All auto insurance covers for at least liability, and accident insurance covers you in the event you’re in an accident such that you can replace your vehicle if need be. However, comprehensive cover also covers you for damage not related to accidents, like vandalism, theft, weather damage, and so on. Again, if your car is newer than 10 years old, it’s a good idea to have this type of coverage so that you can easily repair or replace your car without a lot of extra out-of-pocket costs and inconvenience.
Automatic rental car insurance coverage
Many comprehensive policies have clauses in them whereby any car you rent for vacation will automatically be covered by your insurance. Check to make sure whether or not your insurance gives you this coverage. If it does, you shouldn’t have to buy separate insurance for your rental car.
Access to a loaner car if yours is being repaired
If your car is damaged such that it needs to be fixed and will be out of commission for a while, comprehensive coverage often covers you for a loaner vehicle that you can use while yours is being repaired. This has a couple of benefits. Number one, you’re not stranded without a car while yours is being repaired, and number two, you’re not out the costs of renting a car yourself while you wait for yours to come back to you.