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🚗 Say you have a 2010 Ford sedan worth $3,000 and your full-coverage insurance (collision and comprehensive) costs $800 per year with a $500 deductible. If your car is totaled, here’s what ...
Here’s why you should carry more than your state’s minimum ... Compare the cost of basic coverage — liability, collision and comprehensive — and additional coverage that you might need to ...
The average cost of a full coverage policy in the U.S., which includes collision and comprehensive, is $2,545, compared to the average cost of a minimum policy (which does not include collision ...
You carry collision coverage on your vehicle with a $500 deductible. Since the deductible is your responsibility, your insurance company would pay $700 towards the repairs.
Collision coverage is optional, however if you plan on financing a car or taking a car loan, the lender will usually insist you carry collision for the finance term or until the car is paid off. Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) is the term used by rental car companies for collision coverage.
Full auto insurance coverage costs an average of $1,342 per year, according to a 2021 report from AAA. ... your lender likely will require you to carry collision insurance to protect the lender's ...
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