Is collision and comprehensive insurance necessary when a vehicle is paid off

When you have a car loan, your lender will require you to carry collision and comprehensive auto insurance beyond the liability you are mandated to carry by Connecticut law. Once your vehicle is paid off you will no longer be required to carry the additional coverage. You may be tempted to lower your auto insurance cost by dispensing with the collision and comprehensive insurance. Even though it may be very tempting, it may not necessarily be a good idea. With over 125 years of insurance experience, at ALLConnecticut Insurance in West Hartford, CT our team can help you to make the best decision when it comes to your auto insurance. 

Collision and comprehensive auto insurance offer some very useful coverage. Collision helps to repair or replace your vehicle if you are fully or partially to blame in an accident. There is a deductible and you don’t determine the value of your vehicle, it is book value. If your vehicle has some value, either financial or necessary for you to maintain your lifestyle, then it is worth keeping on your vehicle. 

Comprehensive coverage offers different protection for your vehicle. It does cover collision with large animals like deer but for the most part, it is non-collision coverage. It covers a variety of weather events that have the potential to damage your vehicle. From wind to hail and flood, there are lots of bad things that can happen, and having insurance can help you to repair or replace your transportation. If your vehicle is stolen or vandalized you can count on your comprehensive coverage to be there for you. Glass coverage is also included in comprehensive coverage. 

If you rely on your vehicle to perform the tasks of your daily life, having collision and comprehensive coverage can make all the difference. Give ALLConnecticut Insurance in West Hartford, CT a call to make an appointment for a no-obligation quote.