Geico Comprehensive Coverage: Everything You Need to Know
What insurance coverage addresses damages to your vehicle that are not from a car accident? Have you heard about Geico comprehensive coverage? Understanding the different types of insurance can help you choose which Geico policy is best for your needs.
What Is Comprehensive Coverage?
Comprehensive coverage is insurance that covers damages not related to a collision. This coverage could pertain to damages incurred by theft, broken glass, flooding, a fire, hail, or any other natural disaster. Comprehensive coverage does not cover damages that occur from a car accident. Instead, collision coverage applies to vehicle-accident damages. It also does not cover normal wear and tear for parts (including belts or brakes), flat tires, or broken windshield wipers. Comprehensive coverage is also not used to cover medical bills resulting from injuries sustained in an accident.
What Other Types of Insurance Does Geico Offer?
You should know about other types of available insurance coverage:
- Full coverage: A full-coverage insurance policy includes at least the minimum liability required by your state, plus comprehensive and collision coverage.
- Minimum insurance: The minimum required insurance often refers to liability. Liability insurance covers bodily and property damages if you are in an accident. Bodily injury liability covers damages in which you are at fault. Property damage liability covers damages to someone else's property if you are at fault.
- Medical coverages: Medical coverage covers medical bills from a car accident. Personal injury protection (PIP) may cover medical bills, regardless of who is at fault in the accident.
- Uninsured motorist coverages: Uninsured motorist coverage is a policy that can help pay for your damages if you are in an accident with an underinsured or uninsured driver.
Collision and comprehensive insurance are add-ons that can help cover damages. Other types of insurances that you might decide to add to your policy include emergency roadside service, rental reimbursem*nt, or mechanical breakdown. These types of insurance can help you deal with an accident or inconvenient breakdown on the road.
Consider your insurance needs when choosing which Geico policy is right for you. Not everyone requires the same type of insurance. You can first choose the right coverage level by considering your state's insurance requirements and any lienholder insurance requirements. You also want to consider any other assets that you might need to protect.
Thinking about your financial situation is also important. Consider how much you can afford to pay out of pocket, both monthly and following an accident. Finally, consider the value of your vehicle. If your vehicle is not worth much, you might not want to take out a full-coverage policy. However, if you drive a brand-new vehicle with a loan, a full-coverage policy may not only be recommended but also required.
Is Comprehensive Coverage Required?
Comprehensive insurance is optional. When buying comprehensive coverage, you don't have to choose a limit as you do with other plans. Instead, the coverage will usually cover the value of your vehicle, minus your deductible amount.
Although comprehensive coverage is not required, you should consider the following reasons for adding this coverage to your policy:
- It can cover damages, regardless of who is at fault.
- It can help cover repairs from unexpected damages.
Comprehensive insurance may be required if you have an auto loan or drive a lease. Many lenders require drivers to get full coverage, which also often includes comprehensive coverage. This approach ensures that your vehicle is protected, regardless of what happens.
How Much Is the Deductible for Geico Comprehensive Coverage?
The deductible is the amount you agree to pay before Geico pays for any damages. You can usually choose the amount of deductible that you are most comfortable paying. If you choose a higher deductible, you are willing to take on more risk. If you prefer less risk, you might pay a lower deductible but a higher monthly rate.
Reasons to Buy an Insurance Policy With Geico
Compare quotes among multiple providers to find the best rate for your needs. Consider the following top reasons to consider an insurance policy with Geico:
- High customer-satisfaction rating: According to Geico, the company currently has a 97 percent customer satisfaction rating.
- 24/7 assistance: Geico offers 24/7 customer service to help with claims.
- Convenient app: The Geico app allows you to easily and conveniently make changes to your policy.
- Discounts available: Geico offers discounts, which can save you up to as much as 15 percent off of your policy.
- Multipolicy discounts: Geico also offers multipolicy discounts. If you have multiple vehicles or need to insure a house, boat, motorcycle, or any other item, you may receive discounts by bundling them together.
Geico will also waive the cost of windshield repairs or replacements if you carry comprehensive coverage with the company.
What Happens After Filing a Comprehensive Claim With Geico?
Once you file a comprehensive claim with Geico, a Geico inspector will assess the damages. The inspector will calculate them, subtract the cost of your deductible, and submit your claim so that your vehicle can receive repairs. The damages can be greater than the value of your vehicle. In this case, your vehicle is considered a total loss. Instead of repairing the vehicle, you can replace it with one of the same value. Geico will pay out the total value of the vehicle, minus the deductible, to your lender.
Note that Geico's comprehensive coverage does not cover the following:
- Accident or collision-related damages.
- Roadside assistance or towing.
- The cost of a rental while awaiting repairs.
- Replacement of personal property.
- Medical treatments.
However, you can obtain additional coverages, including collision or liability, with Geico.
How Can I Get the Best Rate With Geico?
The Zebra recommends that you don't pay for more insurance coverage than what you need. Find your vehicle's value using Kelley Blue Book or the National Automobile Dealers Association to determine how much coverage you need. You might also choose to raise your deductible or move to a usage-based policy. Geico also offers many discounts, which can make your policy affordable.
A Geico comprehensive coverage policy can help you cover damages to your vehicle related to unexpected events. Always consider your insurance needs before choosing a policy to ensure that you have enough coverage.
Sources:
https://www.geico.com/information/aboutinsurance/auto/
https://www.thezebra.com/auto-insurance/accidents/car-insurance-comprehensive-claim/
https://www.caranddriver.com/car-insurance/a35434289/geico-car-insurance/
https://www.caranddriver.com/car-insurance/a35600766/discount-on-auto-insurance/
