Collision Coverage pays for physical damage to your vehicle as the result of a collision with an object or another vehicle. This coverage is expensive and is optional but may be required by your lending institution or lessor. The higher the deductible, the more you will save on the cost of coverage. Collision coverage only covers your financial expenses for repair of your damaged vehicle. If the repair cost exceeds the current value of your vehicle the insurer will “total” the vehicle and pay you only what the vehicle is worth, not what it would cost to repair.
Comprehensive Coverage pays for damage to your vehicle other than the result of an accident, such as, theft, fire, severe weather, flood, and vandalism. It is not as expensive as collision coverage and the cost can be reduced as you increase the deductible. This coverage is optional but may be required by your lending institution or lessor.
Medical Payments Coverage pays for the medical and funeral expenses for you or others injured or killed in an accident while riding in or driving your vehicle even if you cause the accident. Claims include all reasonable hospital, surgical, chiropractor, X-ray, dental, professional nursing, prosthetic, and funeral expenses. It also covers you or members of your family if you are struck by any vehicle while walking or while riding in another vehicle.
Rental Reimbursement Coverage usually pays a specific amount for a specific number of days while your vehicle is being repaired.
Towing Coverage pays the cost of towing your vehicle to the repair shop.