While Collision and Comprehensive (first-party) insurance is optional in the United States, many drivers opt for protection against damage to their vehicle.
So how much does first-party insurance cost in the United States?
Pricing Factors for Collision and Comprehensive Insurance
A number of factors determine the cost of collision and comprehensive coverage. These include:
The vehicle's value (lower => cheaper)
The deductible (higher => cheaper)
The model, make, and year's loss history (lower => cheaper)
Collision and Comprehensive Insurance Indicative Costs
As a rule of thumb, collision and comprehensive insurance coverage costs 3-6% of the vehicle's value per six-month policy term.
These policy costs are indicative and subject to change without notice.