Despite the term's ubiquity, there is no such thing as "full coverage auto insurance." To put it another way, car insurance companies do not offer full coverage auto insurance policies.
Some people, however, consider a mix of comprehensive, collision, and liability insurance to be full coverage auto insurance. Even though this is not legally correct, you may hear people use the terms comprehensive insurance and full coverage insurance interchangeably. That said, it's critical to understand what different insurance policies cover so you can select the proper combination of coverages for you.
Because "full coverage" isn't now available as a policy option, it doesn't technically cover anything. However, the following three coverages can be combined to create a dependable insurance plan that protects you and your passengers:
Liability Insurance - A liability insurance will cover the costs of the other party's injuries and repairs if you're judged to be at fault in a covered accident.
Collision insurance - If you have collision insurance, this can cover damage to your car if you are judged to be at fault in an accident, but not the other party's car or any personal injuries.
Comprehensive insurance - Comprehensive insurance protects your car from damage that isn't caused by a collision with another car (for instance, accidents related to weather, theft, fire, and more).
These three insurance categories cover a wide range of accidents, making them a reasonable starting point for a "complete" coverage package; nevertheless, the security of your auto insurance is dependent on several things, including your policy limits and deductible amounts.
Drivers can also add personal injury protection, medical payments coverage, uninsured motorist coverage, underinsured motorist coverage, or gap insurance to their policy. Specialized coverage tailored to the demands of vintage and classic car collectors is available through our classic car insurance.
Although car insurance companies do not provide "full coverage car insurance," you can still put together a solid auto insurance package that will protect you in the case of a variety of catastrophes on and off the road.
The more coverages you choose, the higher your full coverage auto insurance quotes will be. However, there are still several factors that influence your insurance costs, such as:
Part of the answer is determined by your medical history and the type and amount of insurance you select. Remember that Way.com can help you find the right car insurance that will save you hundreds on your annual cost.
The average cost of full coverage auto insurance in the United States is $129 per month (with liability coverage limits of 50/100/50), the same as the national average.
However, switching from a liability-only policy to a full coverage policy with a $500 collision and comprehensive deductibles will raise the average driver's monthly auto insurance rate by around $69.
If you are looking for cheap car insurance when opting for full coverage auto insurance, you can take a look at the table below. The table has some of the best car insurance companies in the country that can offer you affordable car insurance quotes.
|Car insurance company||Annual full coverage auto insurance|
Even though full coverage insurance is a fallacy, you may still put up a policy that will protect you in the event of an accident. Start a free online quote with Way.com immediately and select the coverages that are most appropriate for you.
When getting auto insurance, you often have the option of paying monthly payments or paying in one flat sum. Drivers who can afford to pay a significant lump amount at the start of their coverage will save money on their overall costs.
There is no option for any car insurance company to offer you cheap full coverage auto insurance with no down payment.
Those who buy car insurance with no money down will get coverage for a lesser price, but they will pay more in the long run. Regardless of the manner of payment, all drivers will be required to pay at least some amount upfront, whether it is the monthly premium or another lump-sum payment.
To be clear, a professional car insurance company will never provide free coverage on the spot. Before your auto insurance coverage takes effect, you will always be asked to pay anything.
According to Way.com's research, the following insurance companies provided the cheapest full coverage auto insurance:
While Nationwide had the best rates, numerous other car insurance companies offered affordable full coverage auto insurance quotes.
While "full coverage auto insurance" may appear to cover you in any circumstance, this is not the reality. Only collision and comprehensive coverages are included in full coverage. Below you'll find a selection of other types of car insurance that are typically available from most insurers. Depending on your state's insurance rules, some coverages may be required, such as PIP in no-fault states.
The following are examples of situations that full coverage auto insurance does not cover:
Full coverage, unlike liability coverage, is not required by law in all states. There are, however, some circumstances in which full coverage auto insurance is advised or, in some cases, mandated, as detailed below.
Drivers of financed or leased cars must have full coverage. The driver of a leased car does not own the car altogether and does not have the option to forego full coverage. If a motorist has a car loan, they must protect it according to the lender's requirements. Drivers who finance a car but do not purchase full coverage may have a conflict with their lender, who might add "force put" or "collateral protection" insurance to their loan payments to preserve their investment.
According to insurance experts, experts recommend obtaining full coverage insurance if a car is worth more than $4,000.
Full coverage insurance is a good investment if the car will be resold in the future. The insured party would have no recourse if the car were totaled due to a collision or bad weather.
Consider whether the drivers covered by the insurance coverage are more likely than typical to cause damage to the car. Although age does not usually correlate with driving ability, collision coverage is occasionally required for young drivers and teens.
Car insurance firms charge teenage drivers roughly twice as much as the average consumer because of their penchant for dangerous driving.
The purpose of full-coverage protection is to safeguard a car. Full coverage may be a waste of money if the car isn't worth much.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
Access your digital insurance card through the app. You no longer need to carry your physical insurance card with you.
Receive reminders before your renewal. Way.com will also send new quotes from up to 45 insurance companies with your renewal reminder.
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Make changes to your policy right from the app (coming soon) and ask for expert advice.