Is it possible to get liability auto insurance and comprehensive?
Is it possible to get liability auto insurance and comprehensive?
I went ot my insurance agent and she told that i cant get comprehensive by tis self that i would need collision. I was just hoping to save money by cutting the full coverage on my insurance into lialibty and comprehensive only. Is it possible? Or my agent was right?
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5 Responses
1.31.2010
Well, your agent is wrong. If the car is in a locked storage facility and not registered for road use (you turn in the plates) you CAN get comp by itself, as long as you have a second car on the policy which IS registered and DOES have liability coverage. Or, you can insure the car for just liability and comp – no collision. Now, if there's a LOAN on the policy, the lender won't accept that – they'll put forced placement coverage on the car, and eventually repo your car if you don't pay the extra $500 or so a month to the loan. But that's not the AGENT'S problem, that's YOUR problem – that's the deal between you and the lender.If it were me, I'd make you sign off that you understand that deleting collision means there's no coverage for your car in an accident, and it won't fulfill any loan requirements. And it can't be added on, retroactively, after you get that $2,000 bill from the lender. But I'd do it, after you signed off. It's not MY responsibiltiy to be sure you comply with your loan agreement. Source(s): agent, 21+ years
1.31.2010
If the car is financed, then the lender would require that you keep collision. Other than that, you should be able to drop collision. I never heard of a company requiring you to keep collision to keep comprehensive (the other way around is true, if you want collision, you have to have comprehensive). What you should do is shop around to other companies & see what they say. Call a local independent agent, they will have more options for you & more companies to quote you with to get you the best policy they can. Source(s): Insurance agent
1.31.2010
It may be true in your state or with your insurance company but I've never heard of such a "rule". People put only comprehensive on cars all of the time to protect the vehicle while stored or just parked in the driveway while they are on an extended vacation or almost any reason. If the vehicle is financed, Loan companies do require both coverages. If it is paid off, find another insurance company
1.31.2010
It depends; if you finance a car purchase, lenders generally won't loan you the money without showing proof of insurance that includes comp/coll coverage. Plus, it depends where you live. If you own your vehicle outright, you're only required to have what your state mandates for auto insurance. In most states, that's simply liability coverage.
1.31.2010
The reason for this is because some people wreck their car (hit a tree) and then walks off and report it stolen (comprehensive). If you have collision then you would NOT – as you already paid for collision.Good Luck…