Let ‘s start off with a quick definition of collision policy : collision policy is a type of car insurance that can cover you in the event of a crash or accident with another vehicle or object if your car needs to be repaired. Unlike liability policy, your collision policy policy kicks in even if you are found at fault. While this collision coverage definition may sound simple enough, collision indemnity can apply to a wide compass of accident types. broadly speaking, collision can potentially apply to the watch situations :
- An accident involving only your car, such as rolling over
- An accident with another object, such as a phone pole or sidewalk
- An accident with another vehicle, such as a traffic crash or someone hitting your car while it’s parked on the street
Be aware that collision indemnity only reimburses you for damage to your car – not for damage to other vehicles or objects, or for bodily injuries sustained in the accident .
Do I need collision coverage?
You may be thinking to yourself, “ I ’ m a creditworthy driver. Do I actually need collision policy ? ” While collision indemnity international relations and security network ’ thymine required by state jurisprudence, it ’ mho constantly a chic option – with indeed much on the road that you can ’ t see, do you in truth want to risk paying thousands of dollars out of pocket for price to your car after an accident ? Collision coverage helps you protect your investment, specially when paired with liability and comprehensive coverages. If you are leasing your vehicle or making payments ( as opposed to owning your vehicle outright ), your finance company may require that you purchase both collision coverage and comprehensive examination coverages. Check with your car lender about whether collision coverage is required. Collision coverage is particularly crucial for fresh drivers, such as teens, who have less experience on the road .
What does collision insurance cover?
You already know that collision coverage applies to vehicular damage as a leave of an accident with another car or object, or an accident involving only your car. But every accident is unique – so what precisely does collision cover ?
Does collision insurance cover theft?
No. larceny may be covered by your comprehensive indemnity coverage.
Does collision insurance cover rental car accidents?
If you have a collision coverage, it may cover you in the event your lease cable car is damaged. however, rental car insurance coverages vary by state. Be indisputable to check with your rental supplier for specifics around rental indemnity coverage.
Does collision insurance cover vandalism?
No, collision coverage will not cover vandalism, but your comprehensive coverage may .
Does collision insurance cover other drivers?
No, collision coverage lone applies to damages incurred to the policyholder ’ randomness vehicle in the event of a traverse collision. If you are found at fault in an accident, your indebtedness indemnity may cover damages to the other car .
Does collision insurance cover hit-and-run accidents?
It depends on what kind of hit-and-run it is. If a driver hits your car while it ’ s parked, your collision policy may cover damages to your cable car. however, it would not apply to bodily injuries sustained as a consequence of a hit-and-run accident. Collision policy covers a wide variety of incidents, and can be a smart addition to your car indemnity policy. Find out more about Nationwide collision indemnity and get a free quote today .