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Comprehensive car insurance : Advantages and disadvantages.

BY: David Prakash Kumar | Category: Business and Finance | Post Date: 2009-12-10

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   David Prakash Kumar
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Comprehensive car insurance is a new word for many people. This is because it is not a very common type of insurance that people are used to. It is a very important type of insurance, but almost all those who have insurance for their cars do not have this kind of insurance. The insurance that we normally purchase for our cars are collision car insurance. This type of car insurance makes one insured against any accidents.

Comprehensive car insurance on the other hand is a type of insurance where the individual has the car insured against almost every aspect other than collisions. Comprehensive car insurance can include those kinds of disasters like volcano eruptions, rioting, earthquakes, and damage due to various other natural disasters. This makes the insurance company more vulnerable because they have to pay for a host of damages, but the only lucky thing for the insurance company is the fact that these claims for natural disasters and other causes of damage are very less. The other factor is that many people who own cars rarely buy insurance for all these other causes. They get insurance only for the collisions that may cause damage to their cars.

Advantages of comprehensive car insurance:

1. It is comprehensive in nature:

The first important advantage of the comprehensive car insurance is the fact that it covers the car comprehensively by providing insurance for various causes of damages.

2. It can benefit the individuals in times of need:

A collision car insurance is a common one and when that is opted for, a person may benefit only when the car has an accident. At the same time, the individual who has a comprehensive car insurance is ready for all emergencies because they will have cover for all damages to the car and will benefit the car owner if some untoward incident occurs.

Disadvantages of comprehensive car insurance:

1. Costly:

The first most important factor that acts as a disadvantage is the factor that the comprehensive car insurance is usually very costly. This is because the comprehensive car insurance covers a variety of possible damages to the car. The damage can be due to so many reasons that there is a possibility of a sudden large claim in a particular locality in the event of a natural disaster or a rioting. This is the main reason for the high cost of the comprehensive car insurance.

2. Less chance of damage to car other than collision:

When the statistics are looked at, the number of incidents of damages to the car other than what occurs in an accident is very minimal. This is one of the important reasons for the person to have collision car insurance only.

These are the various advantages and also the disadvantages of comprehensive car insurance. One has to really think before they take out insurance. The need of the individual and also the need of the person based on the environment and surroundings have to be considered before purchasing the insurance as this will help the individual to make the right decision on what kind of insurance to buy.

Article Source: http://www.saching.com

About Author / Additional Info: I am a physiotherapist and also a freelance writer. I have been writing for many blogs and websites and also take up freelance assignments. Comments are welcome at prakashdavid@rediffmail.com

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