Car damage doesn’t just happen because of a wreck. Damage could occur anywhere, even in places that you consider safe. Your garage is one of them. You might think the garage is the safest place for your car, which indeed it is. However, even cars parked in garages aren’t immune from risks.
If your car sustains damage in your garage, then you might want to use your insurance benefits to pay for the repairs. However, you must make sure you have the proper insurance benefits to begin with. With the help of your insurance agent, it is easy to add the right coverage to your plan to cover damage to your parked car.
Auto Insurance for Cars in Garages
Most people don’t think twice about parking their cars in their garage. That’s what they are there for after all. However, what happens when something goes wrong?
Perhaps one night, a fire breaks out in your garage. You not only have to repair the structure, but also the damaged vehicle. This could cost a lot of money, and it is only natural to want your insurance to help you out.
On one hand, home insurance often supplies coverage for certain possessions housed within the garage. However, because cars are very expensive, specialty assets your home insurance generally won’t cover it. You will have to rely instead on your car insurance.
Still, your car insurance will cover the damaged car only if it has the right coverage at the time of the damage. The coverage you need to have to be able to receive these benefits is called comprehensive damage insurance.
Comprehensive coverage pays for vehicle damage that is not related to a collision. It covers you against perils like fires, theft, severe weather, vandalism or related events. Since you aren’t driving a car that is parked in your garage, then damage occurring at this time will likely fall under comprehensive coverage.
When putting together your comprehensive coverage, you will need to think about the right ways to structure your benefits.
- Most policies will include deductibles. Any damage cost that falls below your deductible value is your responsibility to pay. Therefore, always choose a deductible that you can afford to pay out of pocket.
- If you total your car, then comprehensive coverage might pay you based on either the car’s replacement cost value (RCV) or actual cash value (ACV). If you have RCV coverage, then your plan will pay you an amount similar to the like-new value of the car. If you have ACV coverage, then your settlement will be based on the car’s used value at the time of the damage. Deductibles will apply.
Your insurance agent is committed to working with you to find the best comprehensive benefits for you and your vehicle. You can rely on us to help you find the perfect coverage solutions no matter what your needs.