Typically considered the gold standard for a car insurance policy, full coverage insurance refers to a policy that includes both comprehensive and collision coverage, as well as any other types of insurance mandated by your state.
For starters, all full coverage policies will include the following:
Note that both of these types of coverage cover your vehicle, not the other person’s vehicle (if someone else is involved). To cover damages suffered by the other party in an accident, you’ll need:
In some states, medical coverage is also considered standard when it comes to car insurance (with some states even requiring these types of coverage):
While both MedPay and PIP provide relief for medical costs, PIP is overall more comprehensive and is a requirement in 12 states, all of which are no-fault states (states in which fault is not assigned after an accident). Though MedPay is less comprehensive in what it covers, it is more flexible regarding who it covers -- MedPay can benefit not only the drivers involved in an accident, but also their passengers as well as any affected bystanders.
Both of these types of insurance come with pros and cons, and where not required can offer multiple benefits. Which is right for you, if either, depends on where you live and what you can afford when it comes to insurance.
Beyond the coverage types already discussed, there are bonus options you may want to consider if you truly want to feel secure in your coverage. Here are a few:
Though state minimum insurance is the cheapest option when it comes to monthly rates, full coverage insurance offers a much greater breadth of protection in the event of an accident. Determining how much insurance you should ideally have and which types of coverage to go for can be intimidating, which is why we recommend asking a licensed insurance agent for tailored advice before signing up for a policy.
Whether you want full coverage, state minimum, or something in-between when it comes to your policy, always take the time to compare carriers and quotes before signing up. For an easy way to start saving on auto insurance, compare quotes with us today.