If you want to get a complete complement of insurance coverage for your vehicle, then you’ll definitely want to consider full coverage car insurance. As the name suggests, full coverage car insurance includes a spectrum of coverages, including liability, comprehensive and collision, and also often medical and uninsured/underinsured motorist.
This said, there is actually no type of policy called “full coverage insurance”. Rather, you can request this combination of plans to get full coverage from a single provider.
And another thing: The name “full coverage” is doubly misleading because the coverage is not really full. There will always be something that your insurance provider can’t cover under the terms of the policy.
But for now, let’s focus on what full coverage car insurance does include.
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That depends on your plan and how much of a deductible you want. A deductible is an amount you have to pay toward any damage before the insurance starts paying out. The deductible only has to be paid once every year, but it can have a big impact on the cost of your full coverage car insurance.
Low deductibles, like $100, may sound enticing at first, but just keep in mind the lower your deductible, the higher your premiums (i.e. the more you have to pay every year).
To determine the best deductible for you, consider how much you can comfortably afford to pay out-of-pocket. $100? $250? $500? Some companies will offer a $0 deductible, but again, that’s going to increase your premiums.
However, if you can’t afford to pay much out-of-pocket in the event of an accident, then a $0 deductible may make financial sense.
While best full coverage car insurance rates will be considerably more than liability coverage alone, liability coverage does nothing to protect you and your car. Indeed, if you are buying a new car or leasing one the lender will require you to protect their interest with a full coverage car insurance policy.
How much that policy will cost depends on factors like the year, make, and model, as well as the location, your driving record, deductible, and even your credit score. Currently, the average cost of full coverage car insurance in the U.S. is $1,427 per year (so $118.92/month).
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Absolutely. If you have a vehicle, full coverage car insurance is worth it. While you won’t find a car insurance company that truly covers everything under a combined full coverage plan (for example, it won’t cover intentional damage to your vehicle), full coverage insurance will give you substantial protection against vehicular incidents and accidents.
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Full coverage insurance is not actually a type of insurance. Rather, it’s a term used to describe the combining of multiple types of car insurance into one “full” policy. Typically, these types of insurance include liability, collision, comprehensive, medical or personal injury protection, and uninsured/underinsured motorist coverage.
The cost of standard full coverage insurance will depend on numerous factors including your age, driving record, where you live and your credit score. This variability makes it difficult to give an exact cost. However, the average is around $118/month.
There are a few enticing ways to save money on your full coverage insurance. You can bundle your auto insurance with your home insurance and any other insurance you may have. You can also take advantage of good driver discounts, low mileage discounts, loyalty discounts and discounts for people who take safe driving lessons.
Lauren Lewthwaite Lauren Lewthwaite has been freelance writing for almost five years writing content that ranges from health to insurance and everything in between. Lauren is also a trained translator in French and English and is a dog-mom to an adorable Australian Shepherd.
