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All That You Need to Know About Full Coverage Car Insurance

Apr 20, 2023

Car Insurance

All That You Need to Know About Full Coverage Car Insurance

We all know about car insurance and its coverages, including comprehensive, collision, physical damage protection, medical payments coverage, liability, etc. However, is there a policy called full coverage car insurance? Let’s find out.

What Is Full Coverage Car Insurance?

There is no policy called full coverage car insurance. However, when it is used, you need to carry comprehensive and collision coverages plus anything your state requires. Every state mandates carrying liability coverage, but the coverage limit varies according to state. Though comprehensive and collision coverages are optional, your lender may require you to carry them if you finance or lease a car.

Is It Possible to Add Optional Coverages?

Even if your lender does not mandate coverage, a new car is costly and should be protected against all potential perils and liabilities. So, you can buy:

  • Liability Coverage – Covers medical and property damage expenses of a third party if an accident caused by you has damaged their property or left them injured.
  • Comprehensive Coverage – Pays to repair or replace your vehicle if it is stolen, vandalized, or damaged by fire or other natural disasters.
  • Collision Coverage – Pays for damage to your car resulting from a collision with an object, such as a tree, lamppost, telephone pole, etc.
  • Medical Payments Coverage - Provides medical expenses for you and your passengers after an accident.

Besides these, you can also buy rental car reimbursement and roadside assistance coverage depending on your budget and needs.

How Much Does It Cost to Buy Full Coverage Car Insurance?

An auto insurance policy with customized coverage can cost more, than a standard one. However, the cost also varies depending on the model, make, and year of your car and the deductible you choose. The deductible is the amount you need to pay upfront before your insurance kicks in to cover you. If you choose a higher deductible, your premiums will be lesser. Nevertheless, whatever deductible you choose, make sure you can afford it. Otherwise, your coverage will not begin.

Importance of Car Insurance

A car insurance policy is vital for your financial safety on the roads and driving legally. In most states, drivers without car insurance could be penalized or their license can be suspended. So, make sure to have car insurance in place for your protection and peace of mind.

Choosing the Right Car Insurance

You must choose the right car insurance policy with the required coverages. You can discuss with an insurance expert to determine what kind of protection your car needs and act accordingly. Even if your lender does not mandate anything beyond the state’s minimum coverage, it won’t be enough to protect you and other drivers. So, customize coverages according to your needs.

Get Best-in-Class Auto Insurance from Reata Insurance!

Whether you need a basic auto insurance policy or a comprehensive policy with personalized coverages, Reata Insurance Group is ready to help. Our insurance professionals will work with you to tailor coverages according to your unique risk factors, driving history, experience, etc. So, you can be assured that you will receive unmatched protection on and off the roads. Contact us today to get a quote.

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