Collision Coverage and
Comprehensive Coverage are fairly standard on most auto insurance policies, even though this type of coverage is optional in most states.
Taken together, Collision Coverage and Comprehensive Coverage help cover damage caused by other vehicles, stationary objects, storms, vandalism, or theft (among other things). Because some of these losses can be expensive, it's important to know the true value of your used vehicle.
For instance, if your used car is worth less than, say, $1,000, having a low Collision Coverage or Comprehensive Coverage deductible may be more cost than it's worth. If you make a claim, even if your vehicle was deemed a total loss, the maximum amount you'd receive would be the actual value of the car (which accounts for depreciation), minus your deductible. This relatively small settlement amount may be worth far less than the amount you'll be paying in premiums. Adjusting your deductibles, or eliminating Comprehensive Coverage and Collision Coverage entirely, may be a way to save money on a used car.
Your
Allstate agent can help you crunch the numbers, and make any necessary cost-saving adjustments to your auto insurance policy. Alternately, any of our knowledgeable, licensed insurance representatives can help you 24 / 7, 365. Give them a call at 1-866-621-6900.