You may have heard of full coverage auto insurance, but chances are you’re not quite sure what it covers. And if you do know, you may wonder how to get the best price or where to go for insurance quotes.
Below are ways to find economical car insurance that’s right for you.
What full coverage insurance is
Most states mandate basic liability coverage. This insurance protects other drivers, their vehicle and their passengers if you are at fault in an accident.
Full coverage car insurance refers to additional optional coverage you add to your required minimum liability amount. This insurance protects you and your vehicle in the result of an accident. The most common types of coverages, include:
- Collision: Protects your vehicle by paying for damage incurred through accidents with other vehicles or objects when you are at fault.
- Comprehensive: Covers damage to your vehicle from acts of nature, such as hail, vandalism, or if it is stolen.
- Uninsured/Underinsured motorists: This coverage is for you and your passengers, kicking in to cover medical expenses if you are injured in an accident by an uninsured or underinsured driver.
Full coverage is often required by your bank or other lien holder if you finance your vehicle, and is often a good choice if you’re driving a newer vehicle or one that holds its value well. If you’re concerned about the cost of full coverage insurance, keep reading for some tips to help you find the best rates for your needs.
Check for discounts
Auto insurance companies offer multiple price breaks and discounts to consumers who:
- Have a good driving record
- Bundle their auto insurance with other policies
- Opt for paperless billing
- Insure multiple vehicles on a single policy
- Pay in full each year
- Buy a car with, or add on, certain safety or anti-theft features
- Are members of certain affiliate groups or organizations
Each company will have their own set of discounts, so checking in with several different insurers will help you get the best price.
Is moving an option?
Insurers take into consideration the location of your home, or where the vehicle is parked, when determining your auto rates. Carriers invest heavily in understanding the risk for your neighborhood, so be assured, if you live or park your car in a high crime area, your premium will reflect it.
Also, the number of miles you drive to work and back has an impact on the price you pay for auto insurance. When your commute is shorter, you’re reducing the likelihood that you will get into an accident since you’re spending less time on the road.
Parking the car in low-crime areas overnight and reducing your commute are both ways to save on your auto insurance rates.
Get a different car
The specific make and model of your car may affect what you pay in insurance rates. For instance, you will pay more to cover a Honda than you would a Jaguar. The same holds true for heavy duty trucks, high performance vehicles, and many other types of automobiles. Many hold their high premiums over the years of ownership, so feel free to check insurance rates before purchasing your new set of wheels.
Bundle policies with one insurer
Going through different insurance companies for each of your policies could be costing you. Most carriers provide multi-policy discounts for customers who bundle more than a single type of coverage, allowing you to save money on the total cost of your combined premiums. Even if one type of coverage, such as auto, is a bit higher, the bundled savings may be enough to lower the cost of your total insurance bill.
If you’re looking to find the best price on full coverage auto insurance, or look into the value of bundling your coverage, complete our handy insurance quote form today. Fill out one application and you’ll receive side-by-side comparisons of the best available rates for your individual needs.
