Finance Tools
Auto Insurance Collision vs Comprehensive Cost Calculator
Compare collision vs comprehensive coverage by estimating annual premiums, expected deductible payments, and total expected annual cost for each option.
How to use this auto insurance collision vs comprehensive cost calculator
- Enter annual premium and deductible for collision coverage.
- Enter annual premium and deductible for comprehensive coverage.
- Estimate annual claim probability for collision and comprehensive events.
- Calculate expected annual cost for each coverage and compare.
Example
If collision premium is $400/year with $500 deductible and collision claim probability is 8%, and comprehensive premium is $250/year with $250 deductible and claim probability is 6%:
- Collision expected deductible cost = 0.08 × $500 = $40
- Comprehensive expected deductible cost = 0.06 × $250 = $15
- Total expected cost = premium + expected deductible cost
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