Progressive Insurance: The Pros And Cons
Youve probably heard of Progressive Insurance, one of the largest car insurance providers in the country.
But what is Progressive insurance, really? Is it worth your money? Is it the right choice for you?
Or youre considering switching car insurance providers. Well, good for you! Its always a good idea to shop around and compare rates. But how do you know which company is the best for you?
One option is to look at Progressive. Theyre one of the largest car insurance providers in the country, and they offer a wide range of coverage options.
But is Progressive Insurance the right provider for you? Keep reading to find out.
Ill break down the pros and cons of Progressive insurance, well look at the good, the bad, and the ugly.
What Is Included In Ontario Comprehensive Car Insurance
There are several different types of car insurance coverages in Ontario.
In most cases, comprehensive insurance is optional car insurance coverage.
Basically, comprehensive auto insurance covers you for accidents that are not driving related.
If you get comprehensive coverage in Ontario, itll pay for repairing or replacing your vehicle up to its total value.
Comprehensive insurance covers your car for things like:
- Falling objects
- Weather related accidents
- Civil disturbance
Its a good idea to get your insurance broker to explain exactly what youll be covered for with comprehensive car insurance.
That way if you need to make a claim, there wont be any surprises.
Differences Between Comprehensive And Collision Insurance
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Is Comprehensive Insurance Full Coverage
Although comprehensive and full-coverage can sound like theyre the same thing, thats not true. Instead, comprehensive coverage is just one part of a full-coverage car insurance policy.
A full-coverage policy isnt actually a type of car insurance you can buy, it just refers to a policy that includes:
Any other types of car insurance required in your state
What Does Comprehensive Auto Insurance Not Cover
Comprehensive coverage is just one part of a car insurance policy, and it only covers non-collision damage to your own car. That means it doesn’t cover:
Damage to your car from a collision with an object or another car. That would be covered by either your collision coverage or the other drivers liability insurance, if they were responsible for the accident.
Damage to other cars. Any damage to other vehicles you cause in an at-fault accident would be covered by your liability insurance, which can also pay for injuries to other drivers.
Medical bills. Your own medical bills after a car accident might be covered by your personal injury protection if you live in a no-fault state, or your MedPay coverage or health insurance, or the at-fault drivers liability insurance but comprehensive coverage never pays for injuries.
Anything that violates the terms of your policy. Comprehensive coverage wont cover any kinds of damage that are specifically excluded from your policy, like if you damage your car on purpose for the insurance payout.
What Role Does Fault Play In Collision And Comprehensive Auto Insurance
In most accident cases, fault is an important consideration. It may even determine who pays for the car accident. However, there are some exceptions to this rule where comprehensive auto insurance comes in, and where the specific state laws of Massachusetts rule.
When it comes to comprehensive auto insurance, your insurance company should foot the bill regardless of who is at fault. Lets say you hit a deer on the road one night. Even if the accident could have been prevented by more careful driving, comprehensive auto insurance will cover the costs of repairs. You do not have to prove that you were not at fault in the accident.
For the most part, when it comes to collision auto insurance, the driver at fault for the accident must pay the bill. If you collide with another vehicle because you turned onto the street too soon or failed to use proper signaling, your insurance will have to cover the damages. If you collide with another vehicle because the other driver was speeding or driving recklessly, their insurance will eventually pay, however it is recommended you have your car repairs with your own insurance company. Your company will eventually be reimbursed from the at-fault partys insurance company.
Do You Really Need Collision And Comprehensive Insurance
If youre leasing or financing your vehicle, Collision and Comprehensive coverage might be mandated by your lender. Otherwise, theyre optional add-ons to your Auto Insurance and at the end of the day, its your decision whether or not each coverage is worth it, given your personal circumstances.
If you drive an older car that isnt worth very much, dont drive very often, or live in a low-risk area for natural disasters or crime, you might consider dropping one or even both add-ons. But keep in mind: driving without any type of physical damage coverage comes with a big risk, since youll be on the hook for the full cost of damages should you be involved in an incident.
Unless you have the financial security to afford surprise costs, like repairs or an entirely new vehicle, your best option for peace of mind is to have both Collision and Comprehensive Insurance. After all, the higher your car is valued, and the more distance you drive on a regular basis, the more important it is for you to have maximum protection in your back pocket just in case.
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What If Someone Else Damages My Car
Collision insurance is good for situations where youve accidentally damaged your own car, such as backing into a pole. But it can also come in handy if someone else crashes into you. If that happens, you have two choices:
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Collision Vs Comprehensive Insurance: Whats The Difference
When it comes to your car, its better to be safe than sorry. Even the most careful drivers arent immune to bad luck, and the last thing you want is the hefty bill for an unexpected repair. Thats why car owners should aim to be as prepared as possible ahead of a potential incidentand the best way to prepare? Having the right Auto Insurance coverage in place.
Whether youre buying insurance for a new car or shopping around for your current vehicle, its important to know what type of policy youre looking for. Most providers offer Collision and Comprehensive Insurance as optional add-ons to your Auto policy, but even though both coverages apply to physical damage, they cover completely different situations.
Keep reading to learn more about the difference between Collision and Comprehensive Insurance, how each coverage can protect you, and what you should consider when choosing your Auto Insurance policy.
What Are The Different Types Of Car Insurance In Ontario
Like we said, all drivers in Ontario must be insured in order to legally drive.
You also have to have proof of insurance in order to register a vehicle in Ontario.
Mandatory car insurance coverages include:
- Statutory accident benefits coverage
Again, comprehensive car insurance is optional coverage in Ontario.
But you might not want to skimp on it depending on what you have to insure.
The best way to know which kind of car insurance is right for you is by chatting with an Ontario-based insurance broker.
Theyll be able to recommend coverage based on your needs and priorities.
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What Should Your Comprehensive Deductible Be
When picking a comprehensive deductible, or if you want to buy comprehensive coverage, its crucial you think about how old your car is and how much fixing it might cost you.
A comprehensive deductible is the amount of money you would be all right paying out of pocket if you ever experienced this kind of loss. So, if your car was stolen and you had a deductible of $500, you would pay $500 of your own money, and then your car insurance provider would pay the rest.
How much you pay each month for comprehensive coverage is determined in a different way than for personal injury liability and property damage. With that type of coverage, the amount of protection you get dictates what you pay. With comprehensive coverage, though, the cost varies based on the deductible you choose. The higher the deductible, the less youll shell out each month for a premium but the more youll spend of your own money if you file a claim.
How Does Comprehensive Auto Insurance Coverage Work
Say a tree limb falls on your vehicle, damaging the roof, windshield, and trunk. The damage totals $5,000. While the process can vary by insurer, it may include some of the following steps:
- File a claim: You’d file an auto insurance claim with your insurer. Most insurers allow you to file a claim online, via a mobile app, or over the phone. You should document the damage with photos or videos, and your insurer will alert you to any other details that may be needed.
- Know your deductible: Comprehensive coverage may come with a deductible.
- Discuss repair or inspection options: You’ll have a discussion with your insurer on what options you may have to either repair your vehicle or receive payment for damages.
It’s worth noting that comprehensive auto coverage has a maximum payout amount, which is typically the actual cash value of your vehicle. Actual cash value takes depreciation into account when setting the value of your vehicle.
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One Method To Help You Decide
When considering comprehensive insurance, first assess how much your car is worth. Consumer websites such as Kelley Blue Book can provide a value based on your car’s age, condition, location, mileage, make, and model. If your car is worth $2,000 or more, it may make sense to buy comprehensive insurance. But after its value falls below $1,000, you may not need it, especially once you factor in the cost you would pay anyway to meet the deductible.
Damages Due To Ordinary Wear And Tear
The second category of damages not covered in comprehensive car insurance is ordinary wear and tear. No car is built to last forever. As time goes on, your seatbelt may become looser, your tires can get worn down, and brakes and windshield wipers, for example, can start to stick. Its important to keep all of these elements of your car in shape in order to drive safely. But it is not the responsibility of the insurance company to cover repair costs from ordinary wear and tear.
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How Much Will Comprehensive And Collision Insurance Cost
A major factor in the price of both comprehensive and collision coverage is the value of your car. The more your insurer might have to pay if your car is totaled, the more risk the insurer has and, therefore, the more you will pay in premiums.
The table below breaks down examples of auto insurance premiums for three different cars. The sample policies include liability insurance, comprehensive coverage and collision coverage.
Comprehensive Vs Collision Insurance Cost
The cost of comprehensive vs. collision car insurance depends on many rating factors, including your age, gender, location, driving record, credit score and the type of car you drive.
On average, U.S. drivers pay $263 per year for comprehensive coverage and $723 per year for collision insurance, according to a 2022 rate analysis by Insurance.com. The chart below breaks down collision and comprehensive insurance costs by state.
- Civil disturbances
- Striking an animal
When you file a comprehensive claim, you will have to pay the deductible. For example, if you had a $10,000 claim and a $1,000 deductible, you would receive $9,000 from your insurance company.
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Related Topics & Resources
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Should I Get Comprehensive Insurance
If buying a new car would create a significant financial burden for you, consider comprehensive coverage. This is especially important and likely required if you have a car loan. You dont want to be on the hook for car payments months or even years after a thief steals your vehicle.
That said, it pays to weigh your cars value against your deductible. If your car is worth about $2,000 and your deductible is $1,500, for example, it might make sense to skip comprehensive insurance.
It also helps to think about your risk exposure. Are you parking your car in the garage overnight or is it out on the street? Does your area get a lot of hail storms? Are you likely to hit a deer on any of the roads you regularly drive? If your vehicle is exposed to risk, you can protect yourself against that potential financial burden by adding comprehensive insurance to your policy.
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What Is The Minimum Coverage Requirement In Ontario
In Ontario, there are a few minimum requirements for your car insurance policy. These requirements include third-party liability, accident benefits, property damage and uninsured auto driver coverage. Collision and comprehensive auto insurance coverage policies are optional, but many drivers recognize their benefits and choose not to drive without adding them to the total policy.
Some insurance providers offer savings to drivers who add additional forms of coverage as a package. This is called bundling, and it can make you eligible for discounts. Your insurance broker can help find coverage options that make sense for you.
What If Your Car Is Caught In A Storm
A violent windstorm passes through the area you live in, lasting several hours. You didnt have a chance to find indoor parking ahead of time, so your vehicle is parked outdoors for the duration of the storm. Due to the heavy winds, a nearby tree snaps and falls directly on your car, smashing through the glass of your windshield.
With Comprehensive Insurance, you can avoid paying the full cost of these repairs out-of-pocket any damages sustained by your vehicleincluding your windshielddue to extreme weather and falling objects will be covered.
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Car Insurance For First
Congratulations on your new car! You just bought your dream car and are thinking about going on a long drive. But you cant, why? Because youll need to get car insurance before you can legally drive your new car. Car insurance is an important purchase for anyone who owns a vehicle, but it can be especially overwhelming for first-time buyers. There are many different options, coverage levels, and terms to consider, making it difficult to know what you actually need.
Before you start shopping for car insurance, there are a few things you should know.
First, its important to understand the different types of coverage that are available. The most common types of coverage include:
Differences Between Collision And Comprehensive Car Insurance
Although its best to buy collision and comprehensive auto insurance policies together, they are separate types of coverage and dont have much overlap. If you only have one form of car insurance, your accident coverage may be much more limited than you realize. Lets break down the differences between collision and comprehensive car insurance.
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What Is Comprehensive Coverage In Ontario Car Insurance
As president of KBD, Curtis aims to simplify insurance for his clients. Hes helped lead KBD to become one of Canadas fastest 400 growing companies according to the Globe & Mail.
In Ontario, comprehensive car insurance is an optional coverage that pays out for damages to your vehicle caused by weather, fire, theft, and more.
Thats the simple answer.
If youre here to learn what comprehensive coverage means what it covers, and what it doesnt weve got you.
And we get it.
Insurance can be confusing, and car insurance has a lot of moving parts.
But reading this wont feel like youre studying for the LSAT .
Keep scrolling to learn if comprehensive car insurance is the right fit for you.