Top 10 Collision Insurance

Collision insurance is a type of auto insurance coverage that pays for damage to your vehicle resulting from a collision with another car or object, regardless of who is at fault. It is an optional coverage, but it is often required if you are financing or leasing your vehicle.

In more detail, collision insurance covers repair or replacement costs for your vehicle if it is damaged in an accident with another vehicle or a stationary object, such as a tree, guardrail, or building. This type of coverage is particularly beneficial for protecting your financial investment in your vehicle, especially if it is new or valuable. Unlike liability insurance, which only covers damages to other people’s property and medical expenses in accidents where you are at fault, collision insurance ensures that your own vehicle is taken care of. The policy typically requires you to pay a deductible, which is a predetermined amount you must cover out-of-pocket before the insurance kicks in. The premium for collision insurance can vary based on factors such as the make and model of your car, your driving history, and the chosen deductible amount. Having collision insurance provides peace of mind, knowing that you won't be left with significant repair bills after an accident.