Full Coverage Auto Insurance
Did you know that most people pay too much for full coverage auto insurance? Why? Simply because they don’t compare quotes and buy the first policy they get offered. If you would like to save up to 35% all you have to do is complete our quick online form. We will do all the hard work and find the best quotes based on your requirements. You will have the freedom to choose the policy that suits you, not to mention save time and money!
There is a question that bugs many car owners – is it a must that they obtain full coverage car insurance? Actually, it is not necessary – this is because the only stipulated insurance coverage required from car owners is liability car insurance. By definition, full coverage type of car insurance is simply a combination of comprehensive coverage, collision coverage and liability insurance.
Collision coverage is a part of your auto insurance policy that provides financial protection from having to fix or replace your car if you are in a wreck. If you cause a wreck, this portion of your policy pays to replace your car based on the fair market value before the wreck or repair it to its previous condition. If you are in a wreck that is the other driver’s fault, their liability coverage will pay for your damages. However, if you are at fault in the accident, your collision coverage will pay for the damage to your own vehicle.
Comprehensive Coverage (Comp, Other Than Collision, OTC)
As part of a full coverage auto insurance policy, comprehensive coverage is often sold to consumers. Comprehensive coverage is a part of your policy that will provide protection for your vehicle from other sources of damage. If your car is damaged by something other than a collision with another vehicle, it could be covered by this part of your policy. Some of the potential items that could be covered by comprehensive coverage are:
- Fire damage
- Storm damage
- Tree branches
- Hitting an animal
When you file a comprehensive claim on your auto insurance, you typically will not have to pay as high of a deductible as you would if you filed a collision claim. Since most of these incidents could not be your fault, the insurance company does not charge you as much.
A vehicle owner who purchases full coverage car insurance is assured of protection against anything that might go wrong when it comes to possible damages to his car or those that might be caused by the car. Full coverage is also assured if the vehicle is stolen. Unfortunately, because the law does not require full coverage car insurance, many car owners opt not to purchase them.
Full Coverage Car Insurance – Total Protection for Car and Owner
Most of the time, owners are able to purchase full coverage car insurance only because they are able to obtain a bank or financial loan or other types of loans. Most lenders and banking institutions include full coverage car insurance as an essential requirement when signing their vehicle automobile lending contracts. This is done to ensure a complete protection to the investment of the lender. If an accident happens, and it damages the vehicle, full coverage care insurance will either fix the car or replace it altogether. Basically, protection covers the car owner, as well.
For example, an individual is able to purchase a $50,000 luxury car but decides not to purchase full coverage car insurance. If an unfortunate thing happens to the car, like if it gets stolen, it still needs to be paid. This means the borrower continues to pay the monthly installment even if the car is not around anymore. This also means that he will not be able to afford to purchase another car. However, if full coverage car insurance is in place, it will protect both the car owner and lender. In case, a car is stolen, such insurance makes sure it is replaced.
Medical Expenses paid by Liability Insurance
Indeed, any individual does not choose for any accident to happen. However, it is a known fact that car accidents occur every day in the United States. In each case, the primary concern is the full safety of the driver and passengers. However, it cannot be avoided that there are cases when people get hurt in such accidents. These complications would obviously need medical, or even emergency attention, and of course, hospital expenses. However, if liability insurance is obtained together with the full coverage car insurance, such medical expenses will likewise be covered. Likewise, the two vehicles that are involved in the accident will also be covered if the car owner responsible for the accident has full coverage car insurance. This is likewise significant if the accident is deemed to be an act of God.
How to make Full Coverage Car Insurance Affordable
Generally, full coverage car insurance can be quite expensive. However, if a car owner gets them for his vehicle; it is undoubtedly worth it in case an accident might happen. There are a number of steps that an owner needs to do in order to get cheap full coverage car insurance. The first step to make is to maintain a clean and accident-free driving record. It is a fact that when applying for vehicle insurance, offenses in driving will increase the cost of the policy of a full coverage car insurance.
One way of ensuring an immaculate record is by avoiding fines and tickets. Another step to make in order to obtain an affordable, full coverage is by raising the deductible. If one selects a zero-deductible policy, the car owner must simply expect to pay much for insurance. However, if he decides to get a $500-deductible, this can make a tremendous difference to the insurance by a significant 10 percent. And considering the fact that the costs of living these days are high, such ten percent figure can result in huge savings.
Adding collision and comprehensive to your policy can provide you with some major benefits as a vehicle owner. If you are using a car loan to buy your vehicle, both of these options will help protect your financial position. For example, if your vehicle were to be damaged in a wreck, you would want the insurance company to pay to replace or repair it. This way, you’re not stuck with a car loan on a car you can no longer drive. Before opting for a liability only insurance policy, you may want to consider adding these two components as well.
Regardless of whether you have a loan on your vehicle or not, adding collision and comprehensive makes sense if you have a newer vehicle. Unless you can afford to completely replace your vehicle out of pocket, and you don’t mind doing so, these two coverage options are worthy of inclusion in your auto insurance policy.
Get Best Full Coverage by Obtaining Quotes Online
Its never been easier to compare full coverage car insurance quotes. You can contact each insurer individually or you can save a lot of time and get quotes hassle free by simply using our online form. Insurance industry experts recommend getting at least 3 quotes before making a decision. And yes, you may be shocked by how much do rates differ from company to company.
Lets face it, auto insurance its a tough business and all insurers are fighting for new customers by offering special deals and discounts. You should never go with the first quote you get or just renew your policy each year without looking for a better deal. Filling one easy form can save you hundreds of dollars.
What are you waiting for? Enter your details and requirements now, and see just how much you could save.