Full coverage car insurance is a term that describes having all of the main parts of car insurance including Bodily Injury, Property Damage, Uninsured Motorist, PIP, Collision and Comprehensive. You're typically legally required to carry about half of those coverages.
How much does full coverage auto insurance cost?
- - State Minimum : Liability Only BI/PD - Liability Only : 50/100/50 BI/PD - Full Coverage : 100/300/100, BI/PD, $500 Comp/Collision
What is a full coverage for auto insurance?
- - State-required liability or no-fault insurance coverage to cover bodily injury and property damages to others in an accident you cause. - Collision coverage to pay for damages to your vehicle in the event of an accident. - Comprehensive coverage, which is designed to cover vandalism, theft, and other damages that are not the result of an accident.
What does full coverage insurance include?
- Full coverage refers to a collection of coverages that include liability insurance as well as additional forms of coverage, such as collision insurance, comprehensive insurance, MedPay, and personal injury protection. In most states, drivers must carry a liability insurance policy that meets the state’s minimum coverage requirements.
What does full coverage mean?
- When financing or leasing a vehicle, your lender may use the term “full coverage,” but that simply means they’re requiring you to carry comprehensive and collision plus anything else your state mandates. Liability is a required coverage in nearly every state, while comprehensive and collision (physical damage coverages) are optional.
You know you have full coverage auto insurance if you have comprehensive and collision plus any other insurance your state or lender requires. Full coverage is not an official kind of insurance, but the term generally describes a policy that protects the policyholder and their car in most situations.