In the state of Pennsylvania, if you are a car owner you are required to carry liability insurance. This protects other drivers on the road from you, which is very good for them but does nothing for you. The question of why carry comprehensive and collision insurance on your car deals with you and your property. If you have a loan on your vehicle, the lender will require that you carry collision and comprehensive but once your loan is paid off, you may be tempted to just carry basic liability insurance. At The Shay Agency in Wilkes-Barre, PA. we are happy to discuss this issue with you.
Does your car have value
The best way to know how much your car is actually worth is to check the Kelly Blue Book value. In the life of every vehicle, it gets to the point where paying the additional amount for collision and comprehensive is not cost-effective. If the value is so low that it would automatically be totaled in any sort of accident then perhaps you don’t need the coverage. If however, your car is still worth thousands of collars then carrying both collision and comprehensive offers valuable coverage.
Can you pay to repair or replace
Collision coverage pays to replace or repair your vehicle in the case of an accident where you are at fault. Comprehensive coverage protects you from other damage and from theft and vandalism. If you can afford to repair or to replace your vehicle with your own money, then you don’t need this coverage. If you are like most people and would find repair or replacement a burden, then this coverage can be a lifesaver and even a job saver.
If you own a car and live on Wilkes-Barre, PA the team at The Shay Agency would be happy to talk to you about the kind of coverage that is best for you. We invite you to stop by our office or give us a call to get a no-obligation quote and to get any questions you may have answered.