A comprehensive auto policy is
often required by a bank or loan company who loaned you money
to buy your car. This policy is frequently sold together with
collision insurance and also may be required
as part of the terms of the loan.
Comprehensive insures the policy holder against just about
everything that is not covered by collision insurance such
as: falling trees, floods, bad weather and fire. It may even
cover accidents with deer.
As with collision car
insurance, the value of most claims and also what an insurer
will offer to settle a claim will be decided by an insurance
adjuster. You then, as the policy holder, may negotiate for
a somewhat higher settlement or refuse the offer as inadequate.
If you cannot reach a settlement, after an extended period
of time, you can file a complaint with either your state attorney
general office or with your state's department of insurance.
Generally the policy holder will have to pay a deductible
before his or her insurance company will pay for any damages.
The policy holder can save a considerable amount of money
over time by raising the deductible.
Like a collision policy, an insurer will not pay more than
the 'cash value' of your car, so if damages are more than
that value, your car will probably be declared a total loss
and the value of the car, before the damages were incurred,
will be paid to you, the policy holder.
Unlike liability insurance, raising the policy dollar limit
above the worth of your car will not offer you additional
protection, since most companies will only pay, at most, up
to the market value of the vehicle.
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