THURSDAY, AUGUST 10, 2023
It’s common to hear talk about full coverage auto insurance. If you are in the market of purchasing insurance, it may not be clear what this actually entails.
Car insurance policies offer a variety of options. There is no single policy that offers every type of protection. When you discuss auto insurance with an agent, talk about the types of policies right for your needs. In most cases, you’ll need a policy customized to fit your needs, risks, and vehicle.
So, What Is Full Coverage?
Full coverage or being “fully insured” means something different for each policyholder. This isn’t a specific policy itself. It is a process that helps you cover every risk as comprehensively as possible. You can and should consider building a policy that meets all your potential needs. For you, full coverage may include any of the following:
- Liability coverage: This coverage protects other people’s losses when you cause an accident or damage. It does not protect your vehicle, but the others’ involved.
- Comprehensive coverage: This type of coverage is often confused with full coverage. This insurance provides protection from losses not related to driving. This might include trees falling on the car, or similar instances. It may cover fires, theft, and storm damage.
- Collision coverage: This coverage protects you from losses to your own car when you collide with another car, person, or property.
- Uninsured and underinsured motorist: If you’re not to blame for an accident, but the other driver does not have any or has too little insurance, this type of coverage protects you. It can cover the losses the other driver does not.
- Medical payments: This is an optional policy in most cases. It covers the costs of medical care for you when you are in your vehicle or an accident happens in another vehicle.
Full coverage for you should minimize all types of financial risk. This often, at the minimum, includes liability, comprehensive, collision, and underinsured and uninsured coverage.
However, it is important to choose a policy right for your needs. Work with your agent to make that happen. You may need additional coverage for high-risk drivers. Your vehicle may be worth more. You may want to add a personal injury protection plan.
Select auto insurance based on your risks. The right plan covers you from most types of financial loss related to owning a vehicle. Being fully insured gives you peace of mind in every case.
Do you need help with your auto insurance? Get in touch with Allwood Forlenza Agency today. Give us a call at 973-256-5500 for more information. You can also request a free online quote today!
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