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A history of chronic disease or other potential health issues with an individual or family, such as heart disease or cancer, may result in paying higher premiums. Obesity, alcohol consumption, or smoking can affect rates as well. An applicant typically goes through a medical exam to determine whether he has high blood pressure or other signs of potential health issues that may result in premature death for the applicant and increased risk for the insurance company. People in good health typically pay lower life insurance premiums.
Insurers don't determine your actual cash value (ACV) settlement based on what you owe, but rather on what the car is worth just prior to the accident. Let's say you owe $20,000 on your new car, but it's only worth about $16,000. If your car is totaled, you might get a settlement check of $16,000 but still owe an additional $4,000 on your loan or lease.
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Collision coverage has a deductible, which is the amount you pay before your coverage helps pay for your claim. You can typically choose the amount of your deductible when you buy coverage. So, if you choose a $1,000 deductible and your car is later damaged in a covered accident, you'd have to pay $1,000 toward repair costs. Your collision coverage would help pay the rest, up to your coverage limit.
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There is a case to be made for getting just comprehensive and not collision insurance, even if your car is not valuable. Comprehensive covers you for a lot more perils than does collision--including, most importantly, against theft. Regardless of the value of your car, having it stolen is a major inconvenience. Even if your car is worth only $2,000 at the time of the theft, and your insurer gives you $1,500, that sum would go a long way in buying yourself a new vehicle. As we discuss in more detail below, comprehensive insurance generally costs no more than $200 per year, so a $1,500 reimbursement would make the coverage valuable.
Dallas is one of the most-expensive cities for car insurance in Texas, and drivers typically pay over $1,000/year (roughly $80/month) for their coverage. Your exact rate will vary, however, based on factors like your driving record, the value of your car and your previous claims history. Let our agents help you tailor your coverage limits appropriately.
Auto insurance premiums depend on the insured party's driving record. A record free of accidents or serious traffic violations typically results in a lower premium. Drivers with histories of accidents or serious traffic violations may pay higher premiums. Likewise, because mature drivers tend to have fewer accidents than less-experienced drivers, insurers typically charge more for drivers below age 25.
To help you figure out if you should purchase collision coverage, you should estimate the approximate value of your vehicle. While there are a number of online resources that can help with this, including Kelley Blue Book, we recommend you speak with a State Farm® agent. In addition to helping you determine the value of your vehicle, our agents can tell you how much extra you'd pay to add collision coverage.
Collision and comprehensive insurance are two optional types of auto insurance where your insurer pays for repairs to your vehicle. While there are other optional auto insurance coverages, liability, comprehensive, and collision are three of the most common. These coverages work hand-in-hand to repair or replace most of the damages to your car. It's important to know the difference, and make sure you're adequately covered.
Drive Other Car insurance is similar to an Individual Named Insured Endorsement. If you need to borrow, test drive, rent, or lease a vehicle, Drive Other Car insurance will extend the coverages you’ve purchased for your commercial auto insurance policy - like Liability insurance, Physical Damage insurance, Medical Payments, and Uninsured Motorist Insurance, to a non-owned car.
While there are a couple of benefits of collision insurance, the main one is that you can file a claim and receive reimbursement regardless of who was at fault. Collision claims usually get processed faster than property damage claims because the insurance company does not have to spend time investigating who was at-fault. Another benefit is that you only deal with your own insurance company, rather than another insurer with less incentive to pay for your claim. Collision insurance can also be used toward your rental car in most cases, which can spare you from having to buy rental car insurance.
Life insurance premiums depend on the age of the insured party. Because younger people are less likely to die than older people, younger people typically pay lower life insurance costs. Gender plays a similar role. Because women tend to live longer than men, women tend to pay lower premiums. Engaging in risky activities increases insurance costs. For example, a racecar driver faces an increased risk of death and, as a result, may pay high life insurance premiums or be denied coverage.

The key difference in collision vs. comprehensive coverage is that, to a certain extent, the element of the car driver's control. As we have stated before, collision insurance will typically cover events within a motorist's control, or when another vehicle collides with your car. Comprehensive coverage generally falls under "acts of God or nature," that are typically out of your control when driving. These can include such events as a spooked deer, a heavy hailstorm, or a carjacking.
There is a case to be made for getting just comprehensive and not collision insurance, even if your car is not valuable. Comprehensive covers you for a lot more perils than does collision--including, most importantly, against theft. Regardless of the value of your car, having it stolen is a major inconvenience. Even if your car is worth only $2,000 at the time of the theft, and your insurer gives you $1,500, that sum would go a long way in buying yourself a new vehicle. As we discuss in more detail below, comprehensive insurance generally costs no more than $200 per year, so a $1,500 reimbursement would make the coverage valuable.

Collision coverage is very important for protecting your vehicle against the financial loss that comes with physical damage to your vehicle. It's not hard to get into accident. When an accident happens, someone is always at fault, and that could be you. Collision insurance will cover damage from a collision with another vehicle, tree, pole, guardrail and most other possible roadway hazards.


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