Leif Olson, Car Insurance Writer
Comprehensive insurance is cheaper because the events it covers are less likely to occur than a collision, and the maximum payout is your car’s actual cash value (ACV) rather than another driver’s injuries and property damage. Given the lower level of risk, insurers charge less for comprehensive coverage.
Comprehensive Insurance vs. Other Types of Coverage
Type of Coverage
Average Annual Cost
Comprehensive insurance is subject to a deductible, usually between $100 and $1,000. A higher deductible typically means lower premiums, but you should never choose a deductible that costs more than you can comfortably afford.
To learn more, check out WalletHub’s guide to comprehensive insurance.
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