If you own a car, you know you need insurance.
But do you have full coverage car insurance?
Most people on the road today have never searched for full coverage insurance quotes. They may even think that any insurance quote they find counts as full coverage car insurance quotes. But there is a difference, and understanding it can save you a lot of money.
What is Full Coverage Car Insurance?
Every state has different standards when it comes to auto insurance coverage. To drive legally, you need the minimum amount of insurance for your state. However, there’s one guideline that holds true in most cases: The insurance you are paying for covers damage to the other driver’s car, not your own.
That’s right – the insurance you pay for doesn’t even protect you! Pretty tricky, huh?
Many people don’t realize this, and they won’t find out until they get into an accident. That’s why it’s crucial to be sure you are looking for full coverage auto insurance quotes rather than quotes for more basic protection. If an accident happens, full coverage can make a big difference.
Full coverage car insurance usually includes all of the following:
1. Collision Insurance
Collision insurance covers damage to your vehicle, yourself, and your passengers if an accident is deemed to be your fault. There is a small deductible you must pay out-of-pocket, usually not more than $500. The insurance company pays the rest, and your future insurance costs go up.
2. Comprehensive Insurance
Comprehensive insurance covers a variety of damages to your vehicle that can happen when you’re not even driving it! This can cover things like weather damage from rain or a hailstorm. It also covers certain crimes, like vandalism – in fact, it provides your entire replacement cost if your car gets stolen.
3. Liability Insurance
Liability insurance covers legal liabilities, the “damages” that may be awarded to another person if you’re in an auto accident the court considers your fault. These damages include things like the cost of the other driver’s car and medical bills arising from the accident, which might cost tens of thousands of dollars on their own.
Notice that full coverage car insurance works best when an accident is your own fault! If you get into a collision with an uninsured motorist, you’re out of luck. That scenario is covered by uninsured motorist coverage, which is a whole separate insurance product you can add to your full coverage policy.
Do You Need Full Coverage Car Insurance?If you are only looking for the basic amount of car insurance that makes you “street legal,” most states do not require you to have anything like full coverage insurance. Likewise, if you own a vehicle but rarely or never drive, you might be better off opting for basic coverage that will cost less. But there are many situations where full coverage car insurance is the way to go:
1. If You’re Still Making Car PaymentsAlthough it’s unusual for states to require full coverage car insurance, there is one person who can: The lender on your car loan. Lenders demand full car coverage virtually 100% of the time because it allows them to make their money back in the event a major accident totals the vehicle.
2. If You Own Your Vehicle but Can’t Afford to Replace ItSpeaking of which, a car is “totaled” when an insurer writes off 100% of its value and deems it unsafe to drive. If you own your vehicle, but wouldn’t be able to replace it in an emergency, full coverage car insurance can be a great idea. This prevents you from scrambling to cover the cost of a new vehicle yourself!
3. If You Live in an “At Fault” StateThere are two ways for the law to handle car accidents: “At fault” and “No fault.” No fault laws require all drivers to file a claim with their own insurance company after an accident, no matter who was at fault. At fault states require the driver who is found responsible for the accident to pay damages.
4. If You Drive OftenIt comes as no surprise that the more you drive, the more likely something, sometime, will go wrong. If you are one of the millions of Americans who commutes to work by car every day, full insurance can protect you from the unexpected. Remember, harsh weather can cause an accident in a matter of seconds!
5. If Your Vehicle is ExpensiveThe more expensive your vehicle is, the better your fit for full coverage. More coverage will protect you better if you’re found at fault or even partially at fault for an accident. Plus, that same coverage can help you bounce back if your pricey car is targeted by thieves. Better safe than sorry!
How to Lower the Cost of Full Coverage Car Insurance
If you’ve been looking up full coverage insurance quotes, you’ve probably noticed they can be pretty expensive compared to standard coverage. Luckily, there are a few things you can do to lower your car insurance costs:
1. Keep a Clean Driving Record
Even minor traffic infractions can affect your car insurance policy, despite the fact that there was no accident or harm. The more careful you are behind the wheel, the more your insurer will trust you. Each year, your clean driving record has the potential to reduce your rates.
2. Get Older
For what it’s worth, insurers consider older and more experienced drivers a better safety risk than younger ones. The logic goes that maturity leads to less risk-taking behavior. At the other end of the scale, elders who may have reduced vision and reaction times eventually start paying more again.
3. Live in Safer Areas
Insurers evaluate your location right down to the neighborhood when setting your rates. Some states are simply better off than others: Drivers in Idaho, Maine, and Ohio traditionally pay far less than average. Move to a new neighborhood with fewer accidents and less crime and you could save more.
4. Drive a Newer, Safer Car
The newer a car is and the more safety features it has, the more likely it is to qualify for better rates. In general, minivans get the best rates because of their roster of safety features. On the other hand, you could end up paying more to insure a sports car, even if it is brand new, partly because it’s a tempting target for thieves.
The #1 Way to Get the Best Full Coverage Car Insurance Quotes
The very best way to find full coverage auto insurance quotes? You’re looking at it.
Cheap Insurance is the #1 site on the internet when it comes to finding the best full coverage insurance quotes. No matter who you are or what you drive, you can use our site to compare instant free quotes. You can even call our team of auto insurance experts for personalized help.
So that’s the story on full coverage car insurance quotes. If you’re still unsure, just give us a call: (800) 486-1866. We’ll be glad to walk you through your options so you can get the best car insurance policy to suit your needs!