How do I Find Cheap Full Coverage Auto Insurance?
A “full coverage auto insurance” policy typically, but not always, includes:
Sometimes the term “full coverage auto insurance” is used to refer only to collision and comprehensive auto insurance coverage and these “full coverage auto insurance” polices do not include medical and personal injury insurance and liability coverage. Almost every driver is required by state law to carry at least a minimum amount of liability insurance so it is important that you understand whether the auto insurance policy you are considering includes liability coverage.
It is important when you a purchasing auto insurance not just to look for cheap full coverage auto insurance but to look for an auto insurance policy and insurer that will provide the insurance you need if you are in an accident and the service you expect if you have to file a claim with the insurer.
Auto insurance rates which are so low you cannot believe the rates are real are probably not a good deal. Anytime you see incredibly cheap full coverage auto insurance quotes you should read carefully the policy details. A cheap full coverage auto insurance policy that provides only the minimum liability insurance required by the state may save you money on the monthly premiums but if you are in a serious accident you will want liability coverage sufficient to protect you and your assets from a law suit for damages that exceed the minimum required limits.
For example, if you have liability coverage with a limit of $10,000 and cause an accident that results in injuries and damages the costs of which exceed $100,000 those who were hurt in the accident will likely sue you for the remaining costs. If you own a home or have savings or other assets they are at risk if a damage award is made against you. Better to pay a little more in premiums each month and have sufficient liability coverage.
In addition to liability insurance you may need comprehensive and collision coverage to cover the damages to your vehicle. If you have financed the purchase of your vehicle most lenders require you to carry comprehensive and collision coverage as a condition of the loan. If you own your car outright you may decide you do not want to include comprehensive and collision coverage. However, you need to consider whether you will have the resources to replace your vehicle if it is stolen or repair your vehicle if it is damaged. It may be better to pay the monthly premium for comprehensive and collision coverage than to end up without a car following an accident.
A good rule of thumb is – if your vehicle is worth less than a year of premiums for comprehensive and collision insurance - take the risk and skip purchasing the comprehensive and collision coverage but otherwise it is probably a wiser decision to carry comprehensive and collision coverage.
You can save money on the cost of comprehensive and collision coverage by setting a higher deductible. The larger the deductible, the lower the cost of comprehensive and collision coverage. Again a word of caution, do not set a deductible so high that you will be unable to pay the deductible if you have to file a claim.
Not purchasing medical and personal injury insurance coverage is another way you may lower your premiums. You may discover your health insurance and disability insurance already covers the same costs that would be covered by including medical and personal injury insurance as a part of your full auto insurance coverage. You would be paying for a duplicate coverage and receive no additional benefits from the coverage.
When searching for cheap full auto insurance look for insurers who offer discounts. Discounts vary with insurers. Usually you have to ask about discounts to take advantage of them. Some insurers offer affiliate discounts to members of specific associations or organizations. There are also typically discounts for those who purchase more than one type of policy from an insurer. For example, if you purchase your homeowner’s or renter’s insurance from the same insurer you purchase your auto insurance from you will often qualify for a discount.
There are also good student discounts, discounts for those who have completed safe driver training courses and low mileage discounts for those who do not drive often or great distances.
If your vehicle has safety or anti-theft features you may qualify for a discount. Even parking your vehicle in a garage rather than on the street may qualify you for a lower insurance rate.
A good idea is to make a list of the possible auto insurance discounts you may qualify for and ask insurers you are considering whether or not they offer these discounts. If you don’t ask you may not be aware of the discounts that could result in lower premiums.
The best way to ensure you are getting the best auto insurance deal for your specific situation is to comparison shop. The easiest way to compare auto insurance rates is to request free auto insurance quotes from a reputable on-line auto insurance quote provider. These websites will take your request for auto insurance quotes and send you responses from various auto insurance companies.
Once you receive the quotes you need to carefully compare the benefits offered by the policies as well as the costs to determine which insurer is offering the best auto insurance coverage for your specific situation.
You also need to research the insurers offering the quotes to make sure they provide the type of service you will want if you have to file a claim. You can check with your state department of insurance to find out if consumers have filed complaints about the company. You can also check with friends, associates and local body shops and mechanics to see if they have had experiences with the insurers you are considering.
Better to spend a little time making sure the insurer you are considering has a good reputation for dealing with customer claims than to find out when you have to file a claim that the company is unresponsive or cuts corners on the repairs they agree to cover.