What is Broad Collision Coverage?
Broad collision coverage is an auto insurance coverage option available to policyholders. This type of insurance helps protect a vehicle owner in the event of an accident by covering repairs or total replacement of the vehicle due to a collision.
How Does Broad Collision Coverage Work?
Broad collision coverage fills the gaps between the type of damages that are covered by the other components of your auto insurance policy. It compensates for the diminished market value of the vehicle and pays for repair costs caused by an accident, collision or other event, no matter who is at fault for the damages.
What Does Broad Collision Coverage Include?
Broad collision coverage usually included:
- Repair of or total replacement of the vehicle;
- Damages due to an auto accident;
- Damages due to any event other than an auto accident, such as theft or an animal collision;
- Inflation protection;
- Rental car clause;
- Uninsured/underinsured motorist protection.
What Types of Collision Coverage Are Available?
Collision coverage comes in three types:
- Named peril (standard);
- Broad form (also known as advanced form);
- Comprehensive form.
Broad collision coverage is the most comprehensive type, covering all the damages listed above, with the exception of those caused by acts of nature (such as floods and fires). It is usually the most expensive type of collision coverage, but it is also the most comprehensive and complete type of coverage available.
When Is Broad Collision Coverage Necessary?
Broad collision coverage is necessary for drivers who wish to make sure that their vehicle is completely covered in the event of an accident. It is especially important for drivers who are financing their vehicle, as their lender may require proof of the coverage.
If you are looking for additional coverage beyond what your standard auto insurance policy includes, broad collision coverage may be the right fit for you. It is important to do your research and compare different insurance policies before deciding which one is right for you.
5. Are there any exclusions to broad collision coverage?
Yes, it varies by the policy, but some common exclusions to broad collision coverage are wear-and-tear, mechanical breakdown, damage due to an animal collision, unauthorized drivers, and damage due to acts of nature, such as floods or hurricanes.
1. What types of damages are covered by broad collision coverage?
Broad collision coverage typically covers damage to your vehicle that results from a collision, including damage from flipping over or colliding with another vehicle, object, or animal. It can also cover damage due to fire or theft, depending on the policy.
3. Are there any extra fees associated with broad collision coverage?
Yes, there may be extra fees associated with broad collision coverage. These fees may include a deductible, a monthly premium, or other costs associated with coverage. It is important to read the fine print of your insurance policy so you know exactly what you are paying for.