Does Homeowners Insurance Cover Vehicle Damage?

There are many places that a vehicle can be damaged, stolen, or vandalized in other ways. Unfortunately, a person’s homeowners insurance plan does not cover any of these things because there is coverage available in your automobile insurance policy already. Different car insurance policies cover different things, and there are many people who wrongly believe that a homeowners insurance policy will cover these types of damage. In addition, a specific type of auto insurance policy needs to be added on to your basic car insurance plan in order for damage from vandalism to be covered. If, however, the contents of a person’s car are stolen, a homeowners insurance plan could kick in to help cover some of the costs.

While items stolen from your car may be covered by part of your home insurance plan, the damage to your vehicle is a different story.

Will Homeowners Insurance Cover Damage To A Vehicle?

Damage to a person’s vehicle is typically not covered in a homeowners insurance plan. This includes damage due to vandalism, as well as the damage for other reasons. The type of insurance coverage that you would need in order to protect yourself financially from these situations is comprehensive automobile insurance. Your comprehensive car insurance plan will pay for damages if a tree falls on your vehicle, if it is vandalized, if it is stolen, or if it is damaged by numerous other perils.

Comprehensive insurance coverage is not included in your basic car insurance plan and is not required for the state you are living in, but it can be added as supplemental insurance. If you choose to purchase comprehensive coverage, you will have these protections. Keep in mind that comprehensive coverage plans do not cover collisions; there is a separate type of insurance that does that.

What Should You Do To Protect Your Vehicle?

The best way to protect your vehicle is by having insurance coverage to repair or replace your vehicle if it is damaged by ways that you are at risk for. If a comprehensive insurance policy costs 10% or more of your vehicle’s value each month, you may want to consider not utilizing that coverage. It would only take ten months in payments saved to have the money to replace your vehicle completely. This can be the case with older vehicles.

In addition to getting comprehensive car insurance coverage, consider getting collision coverage. This coverage protects your vehicle if you are in an accident, regardless of who is at fault. In addition, UIM coverage and underinsured motorist coverage are also available. This insurance coverage protects your vehicle if you are in an accident that is deemed to be the other person’s fault, and they do not have enough insurance to repair or replace your vehicle completely.

One of the biggest things people should do to protect their vehicle is to get an auto insurance plan from a financially strong company. Look at the customer service rankings of each company as well, and make sure to shop around for plans from multiple companies in order to save the most money possible.