Full Coverage Auto Insurance: What Does It Mean?
Chances are if you own a car, you have faced the bewildering array of choices that come with selecting an auto insurance plan. Most states require a minimum of basic auto insurance coverage, but is that really all that you need or should you extend your policy to include “full” coverage? What is full coverage auto insurance, and is it the right plan for you?
First of all, getting an auto insurance policy that merely covers your state’s minimum requirements is NOT full coverage car insurance. While the majority of state requirements will cover medical expenses for those injured in an accident and quite possibly some property damage, chances are you will still be left with a damaged car without additional car insurance. So while some policies meet the state requirements fully, that is by no means full coverage auto insurance.
Secondly, there is no such thing as true “full coverage” auto insurance. No matter how extensive your policy, there will always be some issues that might not be covered. However, what is commonly known as full coverage car insurance is actually a plan to not only covers the state minimums but also offers some financial protection in the case of damage to the car itself.
Traditionally, what is known as “full coverage auto insurance policies” include comprehensive and collision damages in the policy. This can be extremely beneficial, and usually covers most of the physical damage to a car in an accident, even going so far as to replace the car if it has been totaled. Most of these policies require some sort of deductible, and the larger the deductible, the less expensive the policy.
But true full coverage car insurance also extends to the things you don’t traditionally think about: theft, vandalism, damage done when hitting an animal, weather damage such as hail, or even a flying object from another vehicle. Or what about that runaway shopping cart that careens down the hill and into your car?
If you are seeking a full coverage auto insurance policy, it is important to review your policy carefully and make sure that most contingencies will be covered. Be smart when choosing the amount of your deductible too; you don’t want to have to pay too much when damage occurs. Full coverage auto insurance policies can help you rest easy and drive safely, so choose carefully!