Comprehensive Insurance
Updated: 09 June 2023
What Does Comprehensive Insurance Mean?
Comprehensive insurance is auto insurance that indemnifies or pays benefits to the policyholder for damage to their car due to causes other than collision, such as theft, fire, external explosion, malicious acts, and weather, among other risks.
Insuranceopedia Explains Comprehensive Insurance
Alongside liability and collision insurance, comprehensive insurance is one of the three components of a car insurance policy. Although state law requires the former two, the latter is optional for those who own a vehicle. For those financing their vehicle, the loan company may require them to purchase comprehensive coverage. Otherwise, depending on the area and risks involved, it may still be wise to purchase it. Likle collision insurance, it comes with a deductible.
Related Definitions
Related Terms
Related Articles
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Insuring Your Financial Future: the Crucial Role of Accounting in Insurance
The Future of Insurtech: How Technology is Transforming the Insurance Industry
Related Reading
What Students Need to Know About Insurance Coverage During Internships
A Roadmap for Students Interested in the Insurance Industry
Strong Identity Verification in the Insurance Sector
How to Avoid Online Insurance Scams
How to Get Into the Insurance Industry With a Finance Degree
The Role of Insurance in Protecting Educational Investments