Talking About Insurance Coverage

3 Things to Know About Full Coverage Auto Insurance

2 December 2022 by Jar Ross

When shopping around for car insurance, you may be unsure whether or not to sign up for full coverage auto insurance. Declining full coverage auto insurance and instead opting for less coverage, such as a liability-only policy, can save you serious money on your insurance bill. Declining full coverage, however, also leaves you more open to financial risk if you are in an accident. Here are three things to know about full coverage auto insurance:

Full Coverage Provides the Most Protection

Full coverage offers peace of mind because it provides the highest level of protection. Unlike with liability-only insurance, if you are in an at-fault accident then your full coverage policy will cover the cost of repairs to your own vehicle, rather than just the other driver's vehicle. In addition, full coverage auto insurance protects you if your car is damaged without an accident involved, such as damage from a fallen tree during a storm or vandalism.

Without full coverage car insurance, you would be expected to pay out of pocket for those expenses. 

You Can Save in Other Ways

While it's tempting to save money by opting for less robust auto insurance coverage, it's often worthwhile to find other ways to save money on your car insurance. For example, your car insurance company may offer a tracking program that provides discounts as long as you practice safe driving habits.

Another way to secure a discount may be to take a defensive driving class. Paying your car insurance annually in one big payment instead of monthly also usually results in a large discount on the overall cost.

Full Coverage May Be Required

It's important to note that in certain cases, full coverage auto insurance is legally required. For example, if you financed your car and haven't paid it off yet, then you are required to have full coverage insurance. Auto lenders require this because they need to know the vehicle is protected and damage will be paid for if you are in an accident since they technically own the car until it is paid off.

In other cases, full coverage insurance may be required by your job, especially if you drive your vehicle for work purposes.

As you can see, full coverage auto insurance has many benefits for drivers. To decide which auto insurance policy is right for you, start by having a phone consultation with an auto insurance representative.

Reach out to a service like Advance Insurance to learn more.

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