Despite the popularity of the term, there is actually no policy called “full coverage auto insurance.” In other words, insurance providers do not offer an auto insurance policy that covers everything.
However, what is considered full coverage auto insurance by some is the combination of comprehensive insurance, collision insurance and liability insurance. You might also hear people use the terms comprehensive insurance and full coverage insurance interchangeably, even though this is not technically correct. That being said, it’s important to be informed about what various insurance policies cover so you can choose the combination of coverages that’s right for you.
What does full coverage auto insurance cover?
Since “full coverage” isn’t a policy type currently offered, it doesn’t technically cover anything. However, a reliable insurance package that protects you and your passengers can be built from the following three coverages:
- Liability Insurance, which covers costs for the other party’s injuries and repairs in the event of a covered accident in which you’re found at fault.
- Collision insurance, which can cover damage to your vehicle if you are found at fault in a collision, but it does not cover the other party’s vehicle or anyone’s bodily injuries.
- Comprehensive insurance, which covers certain damages to your vehicle that are not caused by a collision with another car (for instance, accidents related to weather, theft, fire and more).
The range of incidents covered by these three insurance types make them a very good starting point for a “full” coverage package; however, the security of your auto insurance depends on many factors, including your policy limits and the deductible amounts you decide on. Furthermore, drivers may also choose additional coverages such as personal injury protection, medical payments coverage, uninsured motorist coverage, underinsured motorist coverage or gap insurance. Our classic car insurance can also provide specialized coverage designed for the unique needs of vintage and classic car collectors.
How much is full coverage insurance?
Insurance providers don’t offer “full coverage,” but you can still build a dependable auto insurance package that protects you in the event of many incidents on and off the road. Naturally, the more coverages you select, the higher your monthly bill. However, there are still plenty of variables that affect your insurance costs, including:
- Your age
- Your location
- Your driving record
- The kind of car you drive
- The policy type(s) you choose
- Your deductible
- Your policy limit(s)
So, how much does full coverage car insurance cost? The answer depends partially on you and your history, as well as the type and amount of insurance you choose. For more information, check out our breakdown of how much car insurance costs. Keep in mind that Nationwide offers a range of discounts for our members – you could save hundreds on your annual bill.
Despite the fact that full coverage insurance is a myth, you can still build an insurance package that protects you in the event of an unexpected incident. Start a free online quote from Nationwide and choose the coverages that are right for you today.