The lender or landlord can also apply for collision, all-risk and collision insurance if your vehicle is financed. No, collision insurance is not required in Pennsylvania because it is an optional type of coverage in every state. Although Pennsylvania doesn't require it, your lender or landlord may require you to have collision coverage to pay for the repair or replacement of your vehicle after it collides with other vehicles or objects while driving. If you're leasing or financing a vehicle, most lenders require these coverages.
Comprehensive coverage and collision coverage can cover the repair or replacement of your car if it is damaged in a covered incident. To see how much collision insurance costs depending on your specific circumstances, check out WalletHub's car insurance comparison tool. Adding collision insurance will make your policy cost more than if you only had the liability coverage required by your state, but collision insurance is still a good investment for many drivers. Learn more about the coverage requirements and discounts available through Progressive, and find easy ways to get a Pennsylvania car insurance quote through us.
Lenders often require collision and comprehensive insurance, in addition to the insurance that you must have under Pennsylvania law when financing a car. You should take out collision insurance if your lender or landlord requires it, if you can't afford the cost of replacing your car if it breaks down in an accident, if you drive in high-traffic areas where your car is likely to be damaged, or if you're often at fault for accidents. Comprehensive insurance covers repair or replacement costs if your car is damaged by falling objects, natural disasters, floods, fires, theft, vandalism, or animals. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation, or exclusion that is expressly stated in any insurance policy.
Collision insurance covers repair or replacement costs if you have an accident, hit an object, or roll over your car. To protect your assets, you can always choose higher liability limits than those required for auto insurance in Pennsylvania. People generally refer to the state's collision, comprehensive and minimum car insurance requirements when talking about full coverage. It's important to keep in mind that the maximum amount you'll receive from your insurer for a collision claim is the value of your car when you crashed it, not when you bought it.
Keep in mind that most insurers will also require you to take out comprehensive insurance if you take out collision insurance.