When you read the words “comprehensive insurance”, what do you think of?
Frequently Asked Questions
Except in specific cases, no. Comprehensive insurance is optional unless you live in the Canadian province of Manitoba, where it comes as a piece of the mandatory All Perils Car Insurance for that province.
You may also be required to purchase comprehensive insurance if you are leasing or renting a vehicle.
Otherwise, comprehensive insurance is an optional part of auto insurance coverage bought in combination with your mandatory auto insurance plan at an extra cost that will likely see you paying a higher premium.
It depends. If you anticipate finding yourself in circumstances where your car is more likely to get damaged by something other than a collision with another vehicle and your car’s value is more than the cost of the premiums you will pay, then yes, comprehensive insurance is worth it.
The answer to this question is completely individual to your situation based on several factors, such as where you live and whether catastrophic events like natural disasters, extreme weather, or encounters with wildlife are more likely to happen.
It also depends on your car. Is it expensive enough to be worth repairing, instead of just going out and buying another used car should such an event occur.
While comprehensive insurance and full coverage insurance may sound like the same thing using two different adjectives, sadly, they are not.
While comprehensive insurance only covers damage caused by negative incidents outside a collision with another vehicle and collision coverage does cover collisions with another vehicle, full coverage insurance combines comprehensive and collision coverage into one insurance type that covers both.
In fact, your insurance company may offer full-service coverage at a cheaper rate than it would cost to buy both collision and comprehensive coverage individually.