Cheap Full Coverage Auto Insurance

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Everything You Need To Know Regarding Full Auto Insurance Coverage, Your Options, and Dozens Of Related Questions & Answers

What is Considered Full Coverage Auto Insurance?

What is full coverage insurance?

If you ask most experts and insurance agents they will tell you that technically there is no such thing as full coverage auto insurance. Most insurance professionals call it comprehensive car insurance coverage. What one company calls comprehensive or full coverage another company might consider it to be minimum.

Full coverage is a general phrase that describes a combination of collision and comprehensive.  If you are leasing or still paying off an auto loan most lenders require some levels of collision and comprehensive coverage.  Comprehensive coverage will cover you from things that are outside of collision such as natural events, vandalism, and theft etc.

You have one main decision to make when constructing your full coverage plan. What is my comfort level regarding the deductible or out of pocket expense?

Generally speaking the less you pay out of pocket the higher your premium will be. This is where a good car insurance agent can guide you on what your full coverage car insurance plan will look like.

Most states have their own rules as to what they expect drivers to carry such as Liability coverage, which is generally included in all insurance policies. This coverage protects you from damage you may cause to others or to property as a result of an accident for which you are at fault.

What generally falls outside of Full coverage? Here are other coverage’s and options that are considered comprehensive. You may consider adding so that  your protection is a full coverage plan: 

Do I need full coverage when I buy from a dealer?

questions regarding comprehensice insuranceIf you are buying a brand new car on cash basis, the dealer is not obligated to require you to pay full coverage car insurance. That is the responsibility of the car owner. If the car is to be financed, the responsibility falls on the shoulders of both financier and the person buying the car.

However, the dealer is responsible to the finance company to make sure that the car has full coverage before it is allowed to leave the premises.

The bottom line is that every driver should have insurance but when it comes to full coverage, it becomes the decision of the car owner. Under a finance agreement, you are not the car owner yet. Thus, it is important to read the fine print in the finance loan agreement and the terms of purchase. You could be assuming full responsibility if you don’t get full coverage.

This means if the car is damaged in any way, you alone pay for the repairs plus the monthly amortization whether or not you are using the car. You could also be in violation of the agreement and assume more problems if the finance company decides to go after you for breach of contract.

Before you shop for cheap full coverage auto insurance here is a key rule of thumb to find an affordable option:

Rules of thumb:

rules of thumb for full coverage car insurance

Calculate your monthly premium for collision and full coverage. Take those prices and multiply them by 12. If you pay auto insurance on a quarterly basis times it by 4 instead.

When the annual cost for full and collision coverages becomes greater than 10% of your vehicles current value, you have likely reached the point where you can seriously consider removing full coverage auto insurance, and worry about paying the liability portion.

Before you think about getting a full coverage quote make sure you understand whether or not you really need it on your vehicle. You may find that based your car and its value you do not need it.

If you do need full coverage and are in the market to compare quotes Insurantly makes this easy for you. Use our full coverage car insurance quote tool or some might call a calculator.

Cheap Full Coverage Auto Insurance

To understand how to get cheap full coverage insurance you first need to understand what is typically covered under a traditional full coverage policy.

Depending on your assets you always have to consider a strategy to protect them the best you can. Auto insurance however will not completely and totally protect you. So it boils down to choosing the right elements that go in your full coverage policy and how much risk you want to take.

Full coverage car insurance is not for everyone but it is for many consumers who think they cant afford it. Insurantly reviewed top car insurance companies including what they consider a full coverage plan is. You can see that here.

The reality is that people who do actually need it will be surprised to how affordable it can be.

Similar to popular travel websites that match you with competing companies that provide multiple options and pricing comparison, Insurantly partners with national and specialized insurance companies to find drivers some of the cheapest full coverage auto insurance rates in your area.

What companies have the best full coverage car insurance policies?

Find the cheapest full coverage car insurance rates by comparing quotes with Insurantly

 

Allstate full coverage car insurance. One of the most well known insurance companies in the United States and insurer to millions of households. Full coverage/comprehensive includes under and uninsured drivers, medical payments. Additionally, they may suggest personal injury protection and rental car if you’re a traveler.

Nationwide Car Insurance. Offering car insurance policies over 80 years Nationwide has a very good reputation and like other insurance companies on this list have entertaining commercials. Full coverage could include towing and labor coverage, medical expenses and protection against uninsured drivers.

Progressive full coverage car insurance. One of the most entertaining insurance companies with its “Flo” character Progressive is rated high for being flexible. They allow you to tailor your needs to fit into your own full coverage policy.

Liberty Mutual Car Insurance. Since 1912 Liberty Mutual has been insuring families across America. They offer multiple options that includes windshield repairs and rental coverage. In most states they offer the option for new car replacement if your car is less than one year old and you are the first owner.

State Farm full coverage car insurance. State Farm writes more policies than any other insurance company. They have great programs for college students and their options include uninsured motorist coverage, road service and rental coverage’s.

The General full coverage car insurance. The General auto insurance caters more to high risk drivers. Read Insurantly’s review about the General.

 

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What are my options?

The figures on road accidents are hard to dispute but not everyone can afford the whole shebang. There will likely be compromises on certain issues. Deciding which one to compromise on would depend on your personal situation as a driver and the overall picture of your daily driving activities.

One option would be based on how much you are willing to spend every month. You could save by paying up front or pay a lower monthly or quarterly amount although accumulated the total insurance cost would be higher.

Your second option would be to choose according to the coverage. This does not necessarily mean every possible scenario is covered. That may not be financially smart. For instance, why pay for insurance on the chance your car will be vandalized if you have a full time driver, covered and secure garage?

As a result car insurance rates can go up and many drivers find themselves comparing insurance companies for a better payment option. Here at insurantly.com we help consumers get instant online car insurance from top rated providers after you enter your zip code. Carriers will be competing for your business and offer the lowest rates that are available.

Insurantly's Answers to your common questions

Should I keep full coverage on an older car?

older carThe minute you buy a car, used or brand new and drive off with it, the value starts to drop. You can get full coverage auto insurance at least for the first year. This is assuming you are buying a decent car and not a clunker. Over time, the full coverage insurance will cost more if the book value of the car decreases faster than you expected. Thus, assuming the worst scenario and the car gets damaged extensively from an accident; the full coverage may not mean the insurance company will pay for all the repairs. They will first check it is worth their money to have the car repaired.

If the book value of the car is too low, they will call it a total loss and just pay you the book value of the car instead. This means your monthly premiums just went pfft. Stop paying for the car when you see its book value drop low. In short you need to keep track of the value of your car months before the renewal of the auto insurance.

What happens if my car gets stolen?

my car getting stolen

Under full coverage car insurance, the owner of a stolen car will get compensated by the insurance company. However, unless the car was stolen immediately after being bought and insured, there is the depreciation cost that the car owner will have to shoulder.

The usual formula used to compute for insurance claims on stolen cars is based on current market value, not on the value of the car when you bought or when you insured it. As you may know, a car generally drops in value the older it is. Thus, if your policy is based in $20,000 but that was 6 months ago, the car is probably worth $18,000 which is the base figure the insurance company will use.

Does full coverage pay for damage to a rental car?

damage to car rentals

There are two scenarios with this kind of question. First, if you are paying for full coverage auto insurance and you decide to rent a car on an out-of-town trip, you will not be able to use your full coverage insurance should you get into an accident with the rental. A car insurance policy is for a specific car. In fact, if you have more than one car, you will have to get separate policies for each car. If you want the rental car to be covered by your full coverage, you will need to contact your insurance provider and request for an adjustment or addendum to your current policy.

The second scenario is if you get avail of full coverage car insurance with the car rental company and then you get into an accident. If this happens, then you can claim for damages and have the insurance company pay for the repairs. There is a standard insurance coverage with car rental firms known as CDW which is a daily fee. This can be upgraded to full coverage if you want however you have to check the car rental firm about the details.

Can you put full coverage on a motorcycle that has a salvage title?

salvaged cars. Salvaged car refer to a car that was completely wrecked and has been repaired. They are cheaper than buying from a dealer but it comes with more risks.

Most insurance companies will only go so far as to approve liability insurance – the legal minimum for insurance requirements. But this does not mean, it’s impossible to find a company willing to stretch its neck out on full coverage.

Their main concern is the road-worthiness and safety of the car. If you’re stumped in finding the right company to insure your salvaged car according to your needs, approach your local insurance regulator or go online to search option. Thus, it may be possible to find an insurance company that can commit to full coverage but it’s not mainstream.

Is there a minimum loan amount that does not require me to have full coverage insurance?

Your full coverage insurance is not based on loan amounts but on the condition of the car and the type of driver applying for the insurance. Thus, you are looking at it the wrong way. If you do not want to be required to get full coverage with your bank loan, do not buy a car that is new, almost new, or a car that was launched less than 5 years ago. The usual time frame when the full coverage can be dropped is between 5 to 7 years. Thus, look for a car that was launched 5 years ago.

If you don’t like the choices, studies the book value of the cars listed as 5 years old and try to find something around that price range.

Keep in mind that this is still not a foolproof plan. The financing agency will still go over the car and decide if it does not need full coverage insurance. At the same time, the finance agency may increase the deductible and demand collateral for the loan.

Does full coverage cover me if my brakes fail?

failing brakesFull coverage insurance will only cover liabilities for personal injuries, property damage and injuries to other people. It does not cover mechanical breakdowns unless you ask for it specifically.

The insurance company may not necessarily agree to this request. Brake failure is a warranty problem and most insurance companies will refuse to cover it. One exception would be if the brakes exploded and injured the passengers, driver, and other people.

Do you have to have full coverage for insurance to pay for any hail damage?

The minimum insurance coverage required in most states is liability insurance. Unfortunately, liability insurance does not cover damage from hail. It is covered by full coverage or comprehensive car insurance.

Hail is considered an “act of nature” and this is allowed under full coverage car insurance. If you know that hail is a common occurrence in your neck of the woods (or city), then it makes sense it included in your insurance coverage. In fact, insurance companies in your area may even offer this type of add-in insurance before you get to ask about it.

Your other option is to keep the car indoors when you know that the chances of hail are high.

When is the right time to drop full coverage?

when should I drop my full coverage insurance?

Full coverage insurance is practical if your car is still being financed or it is brand new. When the value of the car decreases after a year or two, you can drop the full coverage. It would be advisable to compare the premium payments and the book value of your car. It’s time to be more selective and discriminate on what to insure. You may want to remove collision or theft, or you could remove certain options like insurance on the stereo or other add-ons.

Most experts would recommend letting go of collision insurance after breaching the 7 year mark. However, this would depend on your financial situation. Can you afford to buy a new car if the current one is totaled? If not, then you still need full coverage.

Never remove Liability insurance because it is required in most states so you might as well keep it in. You should also retain the Uninsured Motorist which is insurance for accidents with someone who has no decent coverage.


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Call to get a quote regarding full coverage auto insuranceIf you are in the market to compare rates you can call Insurantly’s network of national insurance companies.

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More Full Coverage Car Insurance Questions Answered by Insurantly

Does full coverage cover anyone who drives my car?

Full coverage insures the car and the driver even if the driver is not the owner. However, there are loopholes to this scenario and you auto insurance will not apply on other drivers.

Basically, you have to go over the terms and agreement under your insurance policy. It should state exactly who is covered. Although if you have to lend someone your car, you need to have the incentive and maturity to ask your friend or relative if they have insurance. Not only that, you also need to find out the extent of their insurance and its validity.

If you have people borrowing your case on a regular basis then it would save you aggravation to include them under your policy. This also refers to your spouse or children. Get their names on the policy to make it clear as black and white that they are insured.

What does full coverage cost on the average Car?

cost of full coverage on average vehiclesIt’s difficult to quantify an amount for full coverage car insurance because an insurance company will base their quotes not just on the car, make, year, model, and condition but also on the driver’s/car owner’s profile. Their main concern is the risk factor and their exposure so that they can protect their interests.

When you look at the general averages for certain makes of cars, you can get a general consensus however if you are not an average driver, expect the rate to increase or decrease significantly. For instance the least expensive full coverage annual car insurance based on the data given above is the Mazda Tribute with an annual premium of $1,070. If you are a senior citizen, this figure could go way up by a few hundred. It could increase even more if you are a new driver and sky rocket is you have a record as an accident-prone driver. As a general figure, you can find full coverage for $75 to $100 a month.

How does full coverage on a motorcycle work?

Full coverage motorcycle insurance is another term for Physical Damage insurance and the legal insurance requirement of the state you live in. You can get more options covered than just the bare legal minimum and it will still be considered comprehensive. In all states, the insurance is regulated, and for motorcycles, no one can drive one on a public road or a highway without carrying insurance. In some states, you cannot buy a motorcycle without first getting liability insurance.

There are deductibles for motorcycle insurance and comprehensive can include fire, theft, collision, vandalism, and flood. Motorcycle insurance has this umbrella offer which is also called extra full coverage insurance. The premium for this type of motorcycle insurance is quite steep but it has high liability limits for the price.

If you are considering compare full coverage options and want to compare rates. We would recommend getting an auto insurance quote online. This link takes you to the home page to begin. Enter your zip code and select the company(s) you want rate quotes from.

Who is covered?

who is covered on full coverage insurance?

Everyone in the car and around the car who has been affected by the accident is covered by the full coverage car insurance. Full coverage car insurance refers to liability, theft, damage to person or property, and third party. However, each full coverage car insurance plan has what is known as a Policy Declaration list which specifically details the coverage. Not everything is covered; not every situation can be turned over to the insurance company as legitimate claims if it isn’t stated in the plan. Thus, it is important to be as forward thinking as possible and include possible scenarios that could occur with the car that is being insured.

You have to check with the insurance company and read the plan word for word so you know exactly what your car is covered for. Of course, the more you add to this list, the more expensive your premium will be.

If you want to have more coverage, you can get Personal Injury Protection (PIP) insurance and medical insurance. You should also find out if PIP is required in your state so you don’t pay twice for the same kind of insurance.

Who should get full coverage auto insurance?

should I get full comprehensive coverage on my vehicle?Not everyone gets comprehensive car insurance because they assume that being good drivers, they won’t get into an accident so they try to save the money. Yet, according to the car industry the yearly cases of vehicular accidents number in the 10 million.

Furthermore, out of every 1,000 auto accidents, there is an average of 3 fatalities. But that’s not all. The real shocker is that the average insurance claim for vehicles last year alone was almost $24,000 each. This includes expenses from damage to car and property as well as medical emergency costs.

No one can predict when a child will appear from nowhere right before your eyes as you are driving down a street. It’s impossible to foresee not skidding on an icy road or losing control of your car because you were hit by another.

As a result car insurance rates can go up and many Americans find themselves comparing insurance companies for a better payment option. Here at insurantly.com we help consumers get instant online car insurance from top rated providers after you enter your zip code. Carriers are competing for your business and provide the lowest rates that are available right now.

Who has the cheapest full coverage car insurance?

finding the cheapest full coverage for your vehicleFinding low cost car insurance that fully covers your vehicle is a goal for most drivers. Perhaps you have just purchased a newer vehicle and are required to get comprehensive coverage. If you have never paid full price on auto insurance you could be shocked at the extra monthly cost.

First, read the rules of thumb here in this section and determine if you really need full coverage. If you do then your goal should be to compare car insurance rates to find the cheapest but best value on your policy that suits your needs. Every state is different and every consumer has a different risk profile. The best way to find cheap full coverage is to compare.

Use our full coverage comparison tool to begin:

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What states do not require full coverage?

states do not require full coverage

Most states do not require comprehensive coverage but they will recommend it strongly to car owners especially the borderline cases. These cases are senior citizens, young teenage drivers, drivers who live in difficult communities, and to those who can afford to keep it.

The exception to this rule lies in the insurance companies that will demand full coverage for cars under financing. It’s the same no matter what state you live in. There are also 2 states that don’t require any auto insurance. These are Wisconsin and New Hampshire but they require that should an accident happen, the driver has to assume the cost of property damage or injuries to anyone involved in the accident. If these are not attended to, the driver’s licenses can be revoked.

The legal insurance minimum coverage for all states is liability insurance except for Virginia which collects a fee for every car each year as insurance contribution. However, if you have Personal Injury, auto and liability, and medical insurance in different plans, it’s almost like having full coverage.

What are the Top 5 Facts about Full Coverage?

car insurance full coverage factsFact #1 Being Fully Covered for Car Insurance is Relative

Fact #2 Full Annual Payment Does Not Necessarily Mean Speedier Approval on Claims

Fact #3 Never Throw Away Old or Expired Insurance Plans

Fact #4 Paying Higher Deductibles Can Reduce Car Insurance Rates but You Have to Ask For It

Fact #5 Know Your Blue Book Value to Determine Coverag

Being Fully Covered for Car Insurance is Relative
Every fully coverage car insurance policy is different. It is based on the car, year, brand, model, condition, book value, and driver. There are too many factors to consider which means you can’t compare the insurance for different cars. Thus when you must shop around for the insurance, you should give the same information to each insurance company you want a quote from. Within your quote, you can request for add-on benefits or special offers. This way, it’s easy to compare options.

Full Annual Payment Does Not Necessarily Mean Speedier Approval on Claims
Making claims on your car is never a quick process. All insurance companies will scrutinize every claim whether it is your first or your third claim. They will also delve and dig deep into your history, the supporting documents, and nature of the accident or damage. While paying the full one year will save you money, it does not follow that there are short-cuts that can taken for claims.

Never Throw Away Old or Expired Insurance Plans
Your vehicle’s history should be complete and filed from the time you bought it to the current date. Your old insurance policies are proof that you have a history with an insurance company which you can use to negotiate for lower rates. The old insurance forms can help you show proof that the car has not been in a major accident should you decide to sell it. Usually when an accident happens and the insurance company has to pay for the repairs, there will be an increase in rates, and that will be obvious in the following year’s insurance policy.

Paying Higher Deductibles Can Reduce Car Insurance Rates but You Have to Ask For It
Like most businesses trying to make a profit, you need ask for the lower rates or discounted rates. The insurance agent may not offer it to you. It’s business so you need to be conscious of these things and not be afraid to demand a lower rate if you pay the higher deductible. Deductibles determine the amount of exposure the insurance has on your car. You will have to pay the full amount of the deductible agreed upon before the insurance company steps in.

Know Your Car’s Blue Book Value to Determine Coverage
If you are planning to get full coverage on an old car or a classic, find out what the Kelley Blue Book Value for your car is. The Kelley Blue Book is the trusted standard on used cars and the information it has on your car can confirm what needs to be insured and for what amount. If the blue book value is high, you need to get full coverage or adjust your plan if the value is lower than what you expected.

High Risk Drivers

young driver in a good car

Can high risk drivers get comprehensive coverage? Yes of course but the costs associated are just like other types of car insurance such as liability in that it will depend on various risk factors.

High risk auto insurance companies provide cheap full coverage auto insurance for drivers of all ages, areas of residence, driving records, and type of vehicles. The best way to lower your car insurance costs is to compare auto insurance with Insurantly. If you have struggled to find coverage from a standard car insurance company you may need to refer to your state’s assigned risk pool.

Is there a minimum loan amount that does not require me to have full coverage insurance?

Your full coverage insurance is not based on loan amounts but on the condition of the car and the type of driver applying for the insurance. Thus, you are looking at it the wrong way. If you do not want to be required to get full coverage with your bank loan, do not buy a car that is new, almost new, or a car that was launched less than 5 years ago. The usual time frame when the full coverage can be dropped is between 5 to 7 years. Thus, look for a car that was launched 5 years ago.

If you don’t like the choices, studies the book value of the cars listed as 5 years old and try to find something around that price range.

Keep in mind that this is still not a foolproof plan. The financing agency will still go over the car and decide if it does not need full coverage insurance. At the same time, the finance agency may increase the deductible and demand collateral for the loan.

Is my vehicle still covered if it gets totaled?

If your car figures in an accident and is totaled or turns into a unsalvageable wreck, your full coverage car insurance will come in very handy. As long as you have kept your payment current, and you do not have any delinquencies on file with the insurance provider, they will start the ball rolling.

You will get money from your insurance company minus the natural depreciation and shift in market value for your car. You will never get the full insured value because the car is deemed to have aged since the time the insurance contract was signed. However, if you have a fair and honest insurance provider, you can expect to get the right amount in payment of claims. On the other hand, if your full coverage includes a new car replacement option, you get a new car instead of a check.

There will be a period where the insurance company will look into the accident to find out how it al happened. It is possible for them to deny a claim if you were drunk or something similar and you caused the accident to happen.



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