Who Needs Comprehensive Insurance?
For leased and financed vehicles, comprehensive insurance is required by all states. This type of insurance may not be required if the vehicle is completely paid for and owned outright. However, it is still quite wise to have this type of coverage in place on all vehicles, whether they are financed or not.
Failure to have this type of insurance on an car that is not paid off can be disastrous. Should you be involved in an accident, you could very well find yourself without a car, while still owing thousands of dollars. It simply is not worth the risk. The cost of insurance is quite affordable, and while no one ever plans to be in an accident, the truth of the matter is that it can happen. State laws may require that you maintain a certain level of this insurance type in order to be considered a legal driver.
The best course of action would be to protect yourself with both collision and comprehensive insurance. Use the internet as a tool, as it is now quite easy to receive comparison quotes in a matter of minutes. By entering just some basic information, you will be presented with several insurance company options, as well as information on rates. From this list, you should be able to select the company that offers the coverage you need, at the price you need it.
