You may have overheard some people talk about having their vehicles fully covered by their insurance company. However, what does this mean exactly? Well, in reality, there really is no such thing as full auto insurance coverage. This is because there are so many different coverage options and some of these options may be needed by some and be useless to others. If you want to have as much protection as possible, you will want to sit down with your car insurance agent to talk about all of your options, which will probably include:
Liability coverage is almost always required by the state in which you live. You can always choose to have a higher liability amount than what is required by your state if you feel the need for additional financial protection.
Collision and Comprehensive Coverage:
These two coverage types are usually required for you to have included on your policy should you be leasing your vehicle or by your financial company. Collision coverage pays for damages to your vehicle in the case of a collision while comprehensive protects you from paying for damages caused by anything other than a collision, such as a fallen tree, theft, and more. If you aren't required to have collision and comprehensive coverage on your policy, you can choose not to have it at all although it is highly recommended since paying for these damages can be extremely costly.
Uninsured Motorist Coverage:
Uninsured motorist coverage is another coverage type that you do not have to include on your policy. However, should you be hit by a driver who has no insurance, then you are going to have to pay for the damages on your own and it can become a complicated situation trying to get the insurance company involved. With uninsured motorist coverage, this will pay for the damages done by an uninsured driver.
Other Coverage Types:
There are many other coverage types that you can include on your policy. For example, if you install a high-end surround sound system in your vehicle, you can choose to have sound system coverage, which is offered by a number of car insurance companies. This will help cover the costs of replacing the system should it be stolen. So although you may have this on your policy and another person does not since they do not have a high-end sound system does not mean that the other person does not have full auto insurance coverage.
If you are worried about having your vehicle fully insured, be aware that there really is no such thing. If you want to maximize coverage, talk to your auto insurance agent (like those at Liverpool Associates) about everything that you believe needs to be included on your policy for the best protection.