Many people have heard about full-coverage car insurance, but not all the time do they know exactly what it means to have such coverage. Some people might find the term to be a little misleading. In basic terms, full coverage insurance is when collision coverage combines with comprehensive insurance. This combination covers specific risks while also providing liability insurance. Here are some tips about how to find cheap, full coverage car insurance.
What Does Full Coverage Include Exactly?
In most states across the country, drivers are required to purchase a small amount of liability insurance for their vehicles. This base minimum does not cover everything. In most cases, basic liability will only pay for the other party’s injuries and repairs, but it might not pay out to the policy holder. Full coverage adds on more coverage to provide funds to the policy holder to fix their vehicle if they are at fault. Collision will take care of the other driver. Comprehensive will take care of the policy holder.
How Much Does Full Coverage Insurance Typically Cost?
Most people believe they cannot afford full coverage car insurance. In some cases, this statement could not be further from the truth. The rates for full coverage cost more, but the cost is not outrages in most cases. Some things factor into determining the cost of car insurance. First and foremost, each state varies in the price ranges they allow. People seeking auto insurance also have to go through a credit check. Another thing that impacts rates for auto insurance is a person’s driving record. All of these things will be factored into a quote. For most people, though, this extra coverage only costs an additional $30 to $60 more than the standard coverage.
Why Should a Driver Purchase Full Coverage Insurance?
Most people go with full coverage for when they have a lean against their vehicle’s title. Some states require that full coverage insurance is in place until that lean against the title is paid off. Some loan offices require the same thing before they will issue a loan. Therefore, some people have to purchase full coverage insurance. This type of insurance would be nice to have for people who have newer or pricier cars in case anything happens to the vehicle. This point is especially crucial for people who do not have enough insurance to cover instances where the person at fault has insufficient or zero insurance in place. Having this higher tier of insurance can mean paying out less money in the event of an accident.
People who regularly commute in heavy traffic might also want to consider full coverage, even if they do not have a new or fancy car. There is a higher risk for accidents during metropolitan driving rush hours, so having this extra insurance to cover those accidents is a wise idea. Another note for people who live in metropolitan areas is they might want the higher insurance coverage because of the fact that more car thefts and break-ins occur.
Other people who might be interested in purchasing full coverage insurance are those ones who live in areas of severe weather conditions. People who experience a lot of hurricanes and tornados might have to be weary of flood damage. At the same time, people who live in more rural areas might have to worry about ice collisions and rogue wildlife.
When is Full Coverage too Much Insurance?
It is important to note that some vehicles do not need as much insurance as full coverage offers because of the vehicle’s value. If the vehicle is not worth the amount of money being spent on it in insurance premiums and deductibles, then a driver might end up being covered with too much money. Therefore, it means money might be wasted in the long run.
Where to Purchase Full Coverage Auto Insurance?
Most insurance companies offer full coverage or something similar to it. Virtually all of them sell this type of insurance. Different companies are better at selling auto insurance at competitive rates than others. StateFarm ranks as the cheapest auto insurance company for this full coverage. Geico comes in second, and All State ranks in third.
Some Things to Add that Full Coverage Might Not Cover
It is important to note that full coverage might not cover everything. It might not cover hit and run instances. It might also not cover towing or roadside assistance no more than it will pay for a rental. Another thing that might not be covered is additional medical expenses. All of these things need to be considered when car insurance is being purchased as they might not be considered part of full coverage.
Conclusion
Finding decently priced car insurance that provides full coverage is not difficult. It can be easily found, and it also does not have to break the bank.
