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Should You Get Collision Coverage?

Should You Get Collision Coverage_

A car crash can be highly stressful. When you have a collision, you might be left to deal with injuries as well as damage to your vehicle. Car accidents are common in the U.S., and there were approximately 6.3 million crashes in the nation in 2015 alone. If you are in an accident and are uninjured, your primary objective will be to evaluate the damage to your vehicle. To receive reimbursement for the repairs, you will need to have collision coverage with your automobile insurance company. Elmer’s Auto Body works with many different insurance companies to repair damage to people’s cars.

What is collision coverage?

Collision coverage is optional insurance coverage that pays for accident damage accidents with objects and with other cars. However, it does not cover everything. It won’t pay for vehicle damage that did not directly result from your accident or for your medical bills.

Choosing a deductible

Before your insurance coverage will start covering your damages, you will first need to pay the deductible amount. For example, if you have a $1,000 deductible, you will have to pay $1,000 before the collision coverage will take over. You can choose the deductible amount with which you are comfortable. Lower deductibles come with higher premiums, so you will need to keep that in mind. However, the cost is not the only factor that you should consider.

You should also think about your risks, including your age, normal times when your vehicle is being used, the climate, and others. If you believe that your risks are higher, choosing a lower deductible might be a wise choice. By contrast, if you have a spotless driving record, live in a climate that has generally good conditions, and drive your vehicle in an area that has minimal traffic, a higher deductible policy might be a good idea. You should also consider the age of your vehicle and whether you have an emergency savings fund.

Should you purchase collision coverage on an older car?

If your car is older than 10 years, you might want to forgo collision coverage. Insurance companies will only pay the fair market value for damage to your car. However, if you are leasing or financing your car, you will likely be required to keep your collision coverage. Some vehicles also keep their values better than other cars. Check the Kelley Blue Book and NADA to find the value of your car so that you can determine whether collision coverage makes sense. Finally, if you do not have an emergency savings fund, it might be best to keep your collision coverage.

Contact Elmer’s Auto Body

If you are involved in an accident and need to have your vehicle repaired, contact Elmer’s Auto Body. We work with all insurance companies and can give you a reliable estimate of the costs to repair your car. Call us today, or fill out our online contact form.

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