Car damage can happen anywhere, at any time. It could even occur in an environment you consider safe, such as your garage. If it does, you'll likely need your insurance to cover the repair costs. But which coverage do you turn to? Home insurance often covers property damaged in your garage. However, you also have auto insurance.
Does it make a difference which policy you use?
It certainly does. Even if you have home insurance, your car insurance policy will likely cover the damage to your vehicle. Make sure you have appropriate protection.
Establishing Appropriate Protection
Let's say you park your car in the garage one evening. During the night, a fire breaks out in the garage, and this damages the car. Now, not only do you have a damaged home to contend with, you also must repair or replace a burned vehicle. How can your insurance help you?
Your home coverage will often pay for the damaged garage and many of the belongings inside. However it likely won't provide enough coverage, if any, for the damaged vehicle. Instead, you'll likely need to turn to your auto insurance. It's there, after all, to protect you from avoidable mishaps, like fires.
However, whether you can afford to pay for repairs or replace your vehicle will depend on your policy. Often, you must add a specific line of coverage called comprehensive insurance.
Most policies don't automatically include comprehensive protection. However, you should consider the added benefit of getting it nonetheless. Comprehensive insurance pays for damage to your vehicle resulting from a non-accident hazard. For example, most comp policies will cover you in the event of a fire damaging the car.
You should first tell your Insurance Discounters of Texas agent that you want this coverage. Have them tailor it to match the appropriate value of your vehicle. At times, you'll often have to choose between replacement cost and cash value coverage.
- Replacement Coverage will pay you the value to buy a new vehicle if your old care gets totaled by the fire.
- Cash Value Coverage is cheaper, but will only pay the cost to replace the vehicle at its depreciated value. For example, a six-year-old car might only be worth a couple thousand dollars. Therefore, you'll only get that amount at maximum from a totaling claim.
If you have questions about comprehensive coverage, contact one of our agents at Insurance Discounters of Texas. We're here to help you determine the right amount of protection.