Which happened a few weeks ago in San Francisco.
This is the Comprehensive part of your car insurance.
I have Liberty Mutual and this is what my policy says:
So I had to ask my agent for my full policy document and here is the list of what is covered under the comprehensive part of my insurance:
Yep, #1 covers missiles or falling objects! Missiles, who knew!
If this happens to you and this is your coverage, you have to pay your deductible before the insurance agency will pay a dime. For comprehensive coverage, my deductible is $100 which is one of the lower deductibles on my policy.
2nd: You are going to want rental car coverage.
With an incident like this, your car is either going to be totaled or in the shop for weeks. You do not want to be out of pocket for a rental car while you wait for the insurance money to buy a new car or wait for repairs.
One thing to note, if your car is totaled, the insurance company will give you the value of your car at the moment which is probably less than what it would cost you to replace your car.
So start beefing up your savings because you have no idea what Mother Nature is going to send your way and you want to be financially prepared to handle anything.
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Disclaimer: I am an educator, not your personal financial advisor. Please make sure to do your own research before moving forward with any actions discussed in this blog post.
Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!
