2. People who cannot afford to buy a new car If you own your car outright, you may think you can skip comprehensive insurance. A good way to think about it is, if your car were stolen or destroyed in a flash flood or fire, would you be able to afford to replace it? For some people, the answer is yes — they have emergency funds or savings set aside for this reason. For other people, the loss of a car could be an impossible blow. For that second group, comprehensive insurance coverage provides essential protection.

Insurance companies place substantial weight on your credit score, using it to determine risk. Studies by the Federal Trade Commission (FTC) show drivers with low credit scores not only file more claims than drivers with higher credit scores, but the actual dollar amount is greater than higher-scoring drivers. Thus, those with better credit are safer clients — with more affordable premiums. On average, moving from one credit tier to the next among our selected insurers saves an average of $344 in annual premium payments.
How much you pay for comprehensive insurance coverage is determined differently than for basic coverages like property damage and personal injury liability. With those coverages, the amount of protection you buy dictates the cost. The cost of comprehensive insurance coverage, on the other hand, varies depending on the deductible you select. The higher the deductible, the less you'll spend on your premium — but the more you'll spend out of pocket if you file a claim.
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