Cheap full coverage car insurance
Understanding Full Coverage Insurance
Many folks aren’t quite sure what “full coverage” actually means. I always explain to my clients that it typically includes liability, collision, and comprehensive coverage. It’s important to clarify this upfront.
Full coverage car insurance typically consists of several key components and additional protections that provide comprehensive protection for drivers and their vehicles. Here’s a breakdown of what’s usually included:
Core Components
**Liability Coverage**
– Property Damage Liability: Covers damage you cause to others’ property
– Bodily Injury Liability: Pays for medical expenses if you injure others in an accident
**Collision Coverage**
– Pays for damage to your own vehicle after an accident, regardless of fault
**Comprehensive Coverage**
– Protects against non-collision incidents like theft, vandalism, fire, natural disasters, and falling objects
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Additional Protections
Full coverage often includes these extra protections:
**Personal Injury Protection (PIP)**
– Covers medical expenses for you and your passengers, regardless of fault
**Uninsured/Underinsured Motorist Coverage**
– Protects you if you’re hit by a driver with insufficient or no insurance
**Medical Payments Coverage**
– Pays for medical or funeral expenses resulting from an accident
**Rental Reimbursement**
– Helps cover the cost of a rental car while your vehicle is being repaired
**Emergency Roadside Service**
– Assists with tire changes, jump starts, or towing
Some policies may also offer:
– Mechanical Breakdown Insurance: Covers unexpected mechanical repairs
– Upgraded Accident Forgiveness: Prevents rate increases after a covered loss
It’s important to note that while these components are typically included in full coverage policies, the exact coverage can vary between insurance providers. Always review your policy details carefully to understand what’s included, and consider adding extra protections based on your specific needs.
How much is full coverage insurance
The cost of full coverage car insurance varies significantly across different states. Here’s a breakdown of average annual costs for full coverage in some key states:
State-by-State Comparison
– Arizona: $1,510 per year
– Alabama: $1,510 per year
– Florida: $4,088 per year
– Georgia: $2,876 per year
– New Mexico: $2,331 per year
– New York: $3,846 per year
– North Carolina: $2,063 per year
– Oklahoma: $1,176 per year
– Ohio: $1,533 per year
– Texas: $3,494 per year
– Virginia: $1,469 per year
Factors Affecting Premiums
The cost of full coverage insurance can vary based on several factors:
– Location: Urban areas typically have higher rates due to increased risk of accidents, theft, and vandalism
– Vehicle type: The make, model, and age of your car impact insurance costs
– Driving record: A history of accidents or violations can increase premiums
– Age and gender: Younger drivers and males often pay higher rates
– Credit score: In some states, a better credit score can lead to lower premiums
– Coverage limits and deductibles: Higher limits and lower deductibles generally result in higher premiums
Ways to Lower Costs
To potentially reduce your full coverage insurance costs:
– Shop around and compare quotes from multiple insurers
– Ask about available discounts (e.g., safe driver, multi-policy)
– Consider raising your deductible
– Maintain a good driving record
– Improve your credit score (where applicable)
Remember, while full coverage is more expensive than minimum coverage, it provides significantly more protection for your vehicle and finances in case of an accident or other covered events.
Top Insurers for Cheap Full Coverage
Progressive
Progressive is known for offering competitive rates on full-coverage auto insurance. They provide a wide range of discounts and have a user-friendly online quoting system. Progressive’s average full coverage rate is around $157 per month, which is relatively affordable compared to many other major insurers.
State Farm
State Farm consistently ranks as one of the cheapest options for full coverage car insurance. With an average monthly rate of $134 for full coverage, State Farm offers rates that are significantly lower than the national average. They also have a strong reputation for customer service and are available in most states.
GEICO
GEICO is another top choice for affordable full coverage insurance. They’re known for their competitive rates and user-friendly online tools. GEICO’s average full coverage premium is about $129 per month, making them one of the more budget-friendly options.
Travelers
Travelers offer some of the most competitive rates for full coverage insurance, with an average monthly premium of $112. They also provide a variety of coverage options and discounts, making them a strong contender for cheap full coverage insurance.
USAA
For those who qualify (military members, veterans, and their families), USAA often provides the cheapest full coverage insurance. Their average monthly rate for full coverage is around $114, which is significantly lower than many competitors.
Erie Insurance
While not available in all states, Erie Insurance offers some of the lowest full coverage rates in the areas they serve. Their average annual premium for full coverage is about $1,375, which translates to approximately $115 per month.
Remember, these rates are averages and your actual premium may vary based on factors such as your location, driving history, and the specific coverage you choose. It’s always best to compare quotes from multiple insurers to find the best rate for your situation.
Tips to Find Affordable Full Coverage Car Insurance
Finding affordable full coverage car insurance doesn’t have to be a daunting task. Here are some effective tips to help you secure the best rates:
Compare Multiple Quotes
Don’t settle for the first offer you receive. Get quotes from several insurance companies to find the best deal. Remember to compare policies with the same coverage limits and deductibles for an accurate comparison.
Look Beyond Big Names
While major insurers are well-known, smaller regional companies often offer competitive rates and high customer satisfaction. For example, assurance America Insurance and Auto-Owners Insurance frequently provide affordable full coverage options in the states where they operate.
Maximize Discounts
Most insurers offer various discounts that can significantly reduce your premium:
– Bundle policies (e.g., auto and home insurance)
– Insure multiple vehicles
– Maintain a clean driving record
– Pay your premium in full
– Sign up for paperless billing
– Install anti-theft devices
Improve Your Credit Score
A better credit score in many states can lead to lower insurance premiums. Work on improving your credit to reduce your rates potentially.
Adjust Your Deductible
Choosing a higher deductible can lower your monthly premium. Make sure you can afford the higher out-of-pocket cost if you need to file a claim.
Consider Usage-Based Insurance
If you don’t drive much, consider usage-based or pay-per-mile insurance programs. These can offer substantial savings for low-mileage drivers.
Review and Update Your Policy Regularly
Your insurance needs may change over time. Regularly review your policy and make updates as necessary to ensure you’re not paying for coverage you no longer need.
Shop Around Annually
Insurance rates can fluctuate, so comparing quotes from different providers at least once a year is wise.
Remember, while finding cheap full coverage insurance is important, ensuring you have adequate protection is equally crucial. Always balance cost with the coverage you need to safeguard yourself financially.
| Feature | Full Coverage | Minimum Coverage |
|---|---|---|
| Average Annual Cost | $2,458 | $678 |
| Average Monthly Cost | $205 | $57 |
| Liability Coverage | Included (often higher limits) | Included (state minimum limits) |
| Collision Coverage | Included | Not included |
| Comprehensive Coverage | Included | Not included |
| Protection for Your Vehicle | Yes | No |
| Required for Leased/Financed Vehicles | Yes | No |
| Recommended for Vehicles Worth | More than $4,000 | Less than $4,000 |
| Cost Compared to Minimum | 263% more expensive | Baseline |
| Typical Liability Limits | 100/300/50 | Varies by state (e.g., 25/50/25) |
| Additional Coverages | Often includes extras like roadside assistance | Typically no additional coverages |
Frequently Asked Questions about Full Coverage Car Insurance
What is full coverage car insurance?
Full coverage car insurance typically refers to a policy that combines liability, collision, and comprehensive coverage. It provides more extensive protection for both your vehicle and potential damages to others.
Is full coverage car insurance required by law?
No, full coverage is not legally required. Most states only mandate liability insurance. However, if you have a car loan or lease, your lender may require full coverage.
What does full coverage car insurance cover?
Full coverage typically includes:
- Liability coverage (for damages you cause to others)
- Collision coverage (for damage to your car from accidents)
- Comprehensive coverage (for non-collision damage like theft or natural disasters)
How much does full coverage car insurance cost?
The cost varies widely depending on factors like your location, driving record, and vehicle type. On average, full coverage can cost around $2,458 annually, compared to $678 for minimum coverage.
When should I consider full coverage insurance?
You might want full coverage if you:
- Have a new or expensive car
- Can't afford to repair or replace your vehicle out-of-pocket
- Live in an area with high rates of car theft or extreme weather
- Regularly drive in heavy traffic
Does full coverage car insurance cover everything?
Despite the name, full coverage doesn't cover everything. It typically doesn't include extras like roadside assistance, rental car coverage, or gap insurance unless specifically added to the policy.
How is full coverage different from minimum coverage?
Minimum coverage usually only includes liability insurance, which covers damages you cause to others. Full coverage adds protection for your own vehicle through collision and comprehensive coverage.
Blake Nwosu
Owner & Principal Agent
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed