Top Full Coverage Auto Insurance: What You Need to Know

If you are searching for car insurance in your area, you may want to consider a full coverage policy. Full coverage car insurance includes liability insurance, collision coverage, and comprehensive coverage. With full coverage, your policy will protect you in virtually every circumstance.

Unfortunately, full coverage auto insurance is more expensive than other types. So, if you are shopping for cheap auto insurance in your area, you may be inclined to turn full coverage down for a liability-only policy. Still, you should consider purchasing full coverage if you can do so. 

The best way to find a full coverage policy that isn’t too expensive is to shop online and compare quotes from several insurance companies. As you compare quotes, you’ll learn which company offers the full coverage plan you need at a price that works for you.

What does full coverage auto insurance cover?

Most states require drivers to carry some form of auto insurance coverage. Each state decides its minimum requirements for coverage, so the amount of auto insurance you need will depend on where you live. Most states require some or all of the following coverages:

• Bodily injury liability. Bodily injury liability covers you if you hurt one or more people during an accident. Bodily injury liability is a requirement in most states.
• Property damage liability. Property damage liability helps if you damage someone’s car or property during an accident. Property damage liability is a requirement in most states.
• Personal injury protection (PIP). PIP helps with medical debt and lost wages due to a car accident. Only certain states require PIP coverage.
• Medical payments (MedPay). MedPay is similar to PIP and covers medical debt like hospital visits and appointments with doctors after an accident. Only certain states require MedPay. 
• Uninsured/underinsured motorist. Uninsured or underinsured motorist coverage helps if someone causes an accident but does not carry the proper auto insurance in your state.

The coverages listed above fall under the liability category. They will protect you, so no one sues you after a car accident. But the above coverages do not help if your vehicle is damaged or needs repair. If you want to protect your vehicle, you’ll need full coverage.

Full coverage includes collision and comprehensive auto insurance. Collision coverage protects your vehicle if you’re in an accident and the vehicle is damaged. It works if you’re at fault in an accident, so you won’t have to pay out of pocket for repairs after you pay your deductible.

Comprehensive insurance covers things that damage your car outside of a car accident. Some of the most common comprehensive insurance claims include damage from inclement weather, wild animals, theft, and vandalism. 

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Are there things full coverage does not include?

Unfortunately, full coverage does not cover every circumstance. Even with a full coverage policy, you may need add-on coverage to ensure you and your vehicle are better protected. 

For example, if you want additional coverage like new car replacement, gap insurance, or emergency roadside assistance, you will have to add those coverages to your policy. Full coverage does not include any additional insurance. 

What’s the difference between liability and full coverage?

Liability offers coverage if you’re at fault in an accident and caused physical damage to a car or structure or bodily injury to one or more people. Minimum coverage or a liability-only policy will help you cover the other driver’s expenses, like medical bills and car repairs. But liability insurance doesn’t cover you or your vehicle.

If you aren’t sure what your state requires, you can speak with your Department of Motor Vehicles to ask about state minimum coverage requirements to ensure you have proper coverage to drive legally.

Full coverage includes your state’s necessary liability, collision, and comprehensive insurance. If you purchase a full coverage policy, you and your vehicle will be covered if you’re at fault in an accident or if something other than an accident causes damage to your vehicle. 

You may have to carry a full coverage policy if you lease your vehicle, as lenders often require individuals to carry the additional coverage. While a full coverage policy is more expensive than a liability-only policy, it offers peace of mind in case of an accident or if something like inclement weather or animals damages your vehicle. 

How can I find full coverage insurance?

The easiest way to find full coverage is to shop online and compare policies with different insurance companies. In addition, you can speak with your current insurance company about adding full coverage to your policy if you currently carry liability.

You should also find and compare rates from other insurance companies. Doing so will help you find the full coverage policy that works best for you and fits within your auto insurance budget. 

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Who should carry full coverage on their car?

Full coverage is a good idea for many drivers but may not be necessary for certain individuals. Some scenarios in which it would be helpful to carry a full coverage policy on your vehicle include:

• You drive a new or expensive car.
• You have a lease or loan on your vehicle.
• You drive in heavy traffic regularly to and from work.
• You live in a place with extremely adverse weather conditions.
• You live in an area with an increased likelihood of car theft or animal collisions.
• You cannot afford to replace or repair your vehicle if it is totaled or stolen.

If you drive an older vehicle, you may find full coverage unnecessary. Comprehensive and collision coverage will reimburse you for your vehicle’s actual cash value (ACV). So if your car is old enough not to carry a significant ACV, purchasing full coverage may be a waste of money. 

Still, if your car is relatively new or expensive or you have a lease or loan, you should consider a full coverage policy.

How much does full coverage auto insurance cost?

The national average for a full coverage auto insurance policy in the U.S. is $1,592 annually or $133 per month. The amount you will pay for full coverage depends on several factors:

• Age
• Location
• Driving history
• Credit score
• Marital status 
• Gender

It’s important to find and compare quotes from several auto insurance companies as you shop for the right coverage. Doing so can help you avoid paying too much for full coverage while still enjoying the benefits. 

Full Coverage vs. Minimum Insurance Rates by Company

With most companies, there is a significant difference between a minimum coverage policy and a full coverage policy. The chart below shows the difference in price between the two options from one company to the next.

Average Monthly Liability-Only vs. Full Coverage Auto Insurance Rates by Company

Geico offers full coverage with the least increase in price. The annual difference between a liability-only policy and a full coverage policy with Geico is $888, which equates to around $74 per month.

Allstate charges the most for a full coverage policy. The difference between a liability-only policy and full coverage with Allstate is $1,622 annually or $135 per month.

As you shop online and compare quotes, you may find some company rates for full coverage that are too expensive. Still, you should continue to find and compare quotes from several companies to see which insurance company offers the most affordable full coverage option.

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How can I save money on full coverage?

You can save money on your full coverage policy in several ways. First, you can increase your deductible to pay lower monthly or annual rates. Of course, if you increase your deductible, you’ll pay more if you ever need to file a claim. Still, it could help you save a bit in terms of your insurance premium.

Discounts are a great way to save money on coverage. Speak with someone from your insurance company to see what discounts you’re eligible for. For example, some auto insurance discounts can help you save up to 25% on coverage. 

The best way to save money on your full coverage policy is to shop online and compare quotes from multiple providers. When you shop online and compare quotes, you’ll find the best rates for your budget.

Case Studies: Top Full Coverage Auto Insurance

Case Study 1: John’s Total Loss Protection

John’s $60,000 luxury car was completely destroyed in a serious accident. Thankfully, his comprehensive and collision coverage insurance policy covered the full cost of the vehicle, relieving him of any major financial strain. This enabled him to easily replace the car without incurring significant out-of-pocket expenses.

Case Study 2: Mike’s Unforeseen Natural Disaster

Living in a hurricane-prone area, Mike’s car was severely damaged when floodwaters engulfed it during a severe storm. Luckily, his comprehensive coverage auto insurance policy saved the day. The insurance company recognized the flood damage as a covered loss, fully covering the repair costs and preventing Mike from experiencing significant financial hardship.

Case Study 3: Emily’s Hit-and-Run Incident

While driving home, Emily’s car was hit by another vehicle that fled the scene. Despite the driver being unidentified, Emily’s uninsured/underinsured motorist coverage, included in her comprehensive auto insurance, came to her aid. Her insurance company covered the vehicle repairs and reimbursed her medical expenses, offering crucial support in hit-and-run scenarios.

Case Study 4: David’s Rental Car Protection

During a business trip, David’s rental car was rear-ended by another driver while parked, resulting in substantial damage. Fortunately, his comprehensive auto insurance policy included rental car coverage, absolving him of repair expenses. His insurance company covered the damages, relieving David of any financial responsibility and allowing him to continue his trip without worry.

Full Coverage Auto Insurance: The Bottom Line

Full coverage protects your car if you’re at fault in an accident or if something like inclement weather or vandalism damages your vehicle. Full coverage is not a requirement in any state, but you may have to purchase a full coverage policy if you lease or have a loan on your vehicle. 

You can purchase full coverage with many insurance companies, but you should shop online to compare quotes before choosing. Comparing quotes will help you make sure you don’t pay too much for your full coverage policy.

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