A car loan is a responsibility that comes with certain expectations. You are expected to make your payments on time every month and keep the car in good condition. Also, if your vehicle is totaled or stolen, your lender will still expect you to continue making payments on the loan. This is where comprehensive auto insurance comes into play.

What is Comprehensive Auto Insurance?

Comprehensive auto insurance covers the gap between what you owe on your car loan and the actual cash value of your car. So, if your vehicle is totaled or stolen, your insurance will pay off the remaining balance of your loan. However, this is minus your deductible, which is the amount you have to pay out-of-pocket before your insurance pays.

Do I need Comprehensive Auto Insurance?

If you still owe money on your car loan, then the answer is yes – you need a comprehensive policy. Your lender will require you to have this type of insurance to protect its investment. The same goes for a vehicle lease. Your RH Worthington Group representative can help you understand your options and find a policy that meets your needs and budget.

How much Comprehensive Auto Insurance do I need?

The amount of comprehensive auto insurance you need is the amount necessary to pay off your car loan if your car is totaled or stolen. This way, you can rest assured that your lender will be taken care of, and you won’t have to continue making payments on a car that no longer exists.

Looking for Quotes in Milford, PA?

If you’re looking for comprehensive auto insurance in Milford, PA, look no further than RH Worthington Group. We’ll work with you to find a policy that meets your needs and budget.