With Erie Insurance car insurance collision coverage could be an option you'll need.
Having all the right options and limits in place is key to putting the best car insurance plan to work for you and your family. While the state you live in sets base minimum car insurance requirements, those limits may not be enough to properly protect you and your driving family. If you are a current customer or considering a new option for coverage, Erie Insurance car insurance collision coverage might be an option worth serious consideration.
Protection for your car
While you may be familiar with the requirements and purposes of liability car insurance, you should be aware that liability only covers the cost of treating or repairing the damage you do to others in an accident. While you may have a high level of property damage liability coverage in place, if you smash up your own car in an accident, liability won’t help you. (If the accident is the other person’s fault, you can’t always be assured that they have property damage liability coverage in place with levels high enough to repair the damage to your car.)
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Collision is an option (like comprehensive coverage) that kicks in to pay for repairs to your car. It is limited in what it will pay for as collision will pay to repair damage your car sustains when:
- Colliding with another vehicle
- Colliding with a permanent or semi-permanent object (such as a building or fence)
- You are involved in a rollover or single-car event
There are a lot of insurance providers that require you to package collision and comprehensive coverage (meaning you can’t get one without the other) and that will require you to choose a separate deductible for each. Erie Insurance allows you to add one or the other individually or combine them both. In some states and with some plans, Erie can also offer you a single deductible option for packaged coverage.
Is it required?
No state is going to require you to add collision coverage to your car insurance plan to comply with state law. However, you may be under contractual obligations to have collision in place.
If you are financing the purchase of a newer car with a car loan, the terms and conditions of that loan will likely require that you have collision coverage in place to protect the lender’s interests in the car until you fully own it. Likewise, if you are leasing a car, the terms and condition of the lease will probably stipulate that you have certain coverage options and levels in place while you are leasing the vehicle.
Is it worth it?
Unless you are contractually obligated to carry collision coverage, you’re going to have to ask yourself if adding collision is worth it. To start with, you should know that collision coverage is one of the most expensive options you can add to any policy. There is very little you can do to contain those costs because the levels of any collision option will be set to the current market or Blue Book or what adjusters refer to as the actual cash value of your car. You can control some of your costs by the deductible you pick. The higher your deductible, the lower your costs will be.
One quick way to calculate whether you should add collision is to total up the added premium costs putting collision in place will come to (and do so for the entire time you expect to own and drive the car you are insuring), and add in the deductible you’ve selected for your collision coverage. If the grand total of those sums exceeds the current market value of your car, adding collision may not be a cost-effective choice.
Unique features from Erie Insurance
When you have Erie Insurance car insurance collision coverage, you can also take advantage of a number of benefits unique to Erie. One of those advantages is the ability to waive your collision deductible if you are involved in an accident with another driver who is insured by Erie Insurance.
In terms of car accident repair expenses, Erie Insurance offers a number of options. Your claims adjuster will work with you following the accident to determine which option is best for your situation. One of those options is Erie’s Direct Repair Program. A number of dealerships and independent auto repair shops are included in this program. With this option, you do not need to worry about a claims representative estimating your vehicle damages. Instead, one of the approved repair facilities will perform both an estimate and necessary repairs to your vehicle.
Another option through Erie Insurance car insurance collision coverage is to visit a repair shop of your own choice after your car has been inspected and a claims representative has approved your estimate. In the event your car cannot be safely operated, another option is to have a field inspection performed. With this option, a claim representative will inspect your vehicle on site and estimate the damages.
Erie Insurance also offers a drive-in claims service. If you opt for this type of service, you should be aware that it is performed on an appointment basis only. In the event your collision resulted in only small dents, Erie’s Paintless Dent Repair option may be a suitable choice. A mobile unit that will come to your home or place of business can often handle this service.
(Use this guide to see all your car insurance options through Erie Insurance.)
Evaluating whether to add an option like collision might be more productive if you get the advice of a local, licensed car insurance agent. An agent can answer any questions you may have, make sure you are in legal and contractual compliance with your car insurance coverage, and can even show you a variety of comparative proposals before you buy Reply! can help match you with auto insurance professionals in your area who can help you find the right policy for your needs.