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Easy Way to Get Full Coverage Auto Insurance
You might be a little confused about whether or not you should get full coverage auto insurance. Precisely what does this type of coverage include? As the name implies, it means your car, in essence, is entirely covered for nearly all risks accompanied by your vehicle. Since each state regulates its insurance mandates, a full coverage auto insurance will slightly vary from one state to the next. Each policy will have certain fundamental elements.
Full Coverage Auto Insurance Rates
This type of comprehensive automobile insurance will protect you from most bodily injuries as well as give you liability protection. So let’s say you were in an accident and were at fault and caused a broken leg to the other driver. Your full car policy would cover his or her medical costs up to a certain amount. The insurance rates for comprehensive car insurance are higher than the non-comprehensive ones. Considering today’s explosive medical expenses, it is a huge safety net that could make you to no spend even $1 more if you were ever in an accident. If you can afford it, make sure you get liability limits that are as high as you can afford.
The Primary Category of Full Coverage Auto Insurance Is Collision Protection
This will protect you from almost any damage done to your car, including ice storms, hail damage, tree breakages, animals, and fires. If you do not have collision coverage, then you will be insured for damage was done to another person’s vehicle, but not to your automobile. If you have an expensive car such as a Porsche or Mercedes-Benz that costs a lot to repair, then full coverage comprehensive insurance is a virtual must-have. Also, if you are one of those people that seem to attract Murphy’s law on a daily basis, then you should get your car fully covered. On the reverse side if you:
- Have an old car that is not worth over $3,000
- Don’t drive too much
- Are an excellent, cautious driver
- Can put the money you save on full coverage auto insurance into a savings account. It might be smart for you to get a cheaper, no-frills liability only based policy.
When Is Full Coverage Car Insurance Mandatory?
IF you buy or lease a vehicle, and the bank holds the car title, then you will be more than likely required to purchase full coverage car insurance. Car dealers want to mitigate their risk as much as possible. They want to have higher coverage for the cars they sell, insure them against a catastrophic loss such as a car being totaled in an accident. You also need to be aware that as your car depreciates, you might need to pay additional coverage to cover this difference in replacement value, which is called Gap insurance. Gap coverage is simply the disparity between the cash value and the loan amount of the vehicle.
Deductibles and Full Coverage Insurance
With a full coverage policy, your insurer, for example, will pay for small damage such as a crack in your windshield. However, you will need to pay for a deductible first, and the insurance company will then pay for the rest. Using the above example, your windshield crack might only cost $200 to repair, but you might have a $500 deductible. In this case, it makes sense to pay for this expense out of your pocket, and thus avoid the hassle of dealing with your insurer who could consider you a higher liability risk and raise your rates.
When deciding on your deductible amount, remember the higher the amount of your deductible, the lower your premiums will be. Some companies, such as Capital One Insurance, require a minimum deductible of $500. If some of the insurance lingoes sound confusing, talk to your friendly insurance agent, and he or she will be happy to answer any questions you have.
Finding Cheap Full Coverage Auto Insurance Rates
The best place to obtain car insurance discounts is online. All you have to do is get several insurance quotes and let the insurers compete for your business. You will be surprised at the range of prices you will receive, which is why it is so important to get as many quotes as possible. If you have completed a driver safety class, make sure you include that in addition to military service, which could save you up to 20%. Get a quote today and see how easy it is to save on full coverage insurance.