When it comes to selecting an insurance policy, people often focus on finding the cheapest option available. This is especially true for full coverage insurance, which can be very costly. Full coverage insurance provides protection for your car, yourself, and others involved in an accident. It covers everything from liability to personal injury protection. Many people want to have this type of coverage but are concerned that it will be too expensive. Fortunately, there are ways to find affordable full coverage insurance policies. In this article, we will explore the cheapest insurance options for full coverage and provide you with some helpful tips for finding the best deal.
What is full coverage insurance?
Full coverage insurance is a type of car insurance policy that provides comprehensive protection for your vehicle, yourself, and others involved in an accident. It typically includes liability coverage, collision coverage, and comprehensive coverage. Liability coverage protects you in case you are at fault in an accident and need to cover the damages. Collision coverage protects your car if it is damaged in an accident, while comprehensive coverage covers damage caused by things like natural disasters, vandalism, or theft.
What are the benefits of full coverage insurance?
The main benefit of full coverage insurance is that it provides comprehensive protection for your car and for yourself. It can be a great way to protect your investment and give you peace of mind on the road. Additionally, some lenders require you to have full coverage insurance if you are financing a car. Having full coverage insurance can also protect you financially if you are involved in an accident and need to cover damages or medical expenses.
What are the downsides of full coverage insurance?
The main downside of full coverage insurance is that it can be expensive. It typically costs more than liability insurance, which only covers damages you cause to other people and their property. Additionally, some people may not need full coverage insurance if they have an older or less valuable car. In these cases, liability insurance may be sufficient.
How to find the cheapest full coverage insurance
1. Compare quotes from different providers
The easiest way to find the cheapest full coverage insurance is to compare quotes from different providers. You can do this online or by contacting different insurance companies directly. Make sure to provide the same information to each provider so that you can get accurate quotes. Once you have gathered several quotes, compare them to see which provider offers the best deal.
2. Increase your deductible
Another way to lower the cost of full coverage insurance is to increase your deductible. Your deductible is the amount of money you pay out of pocket before your insurance coverage kicks in. By increasing your deductible, you can lower your monthly premiums. Just make sure you can afford to pay the higher deductible if you are involved in an accident.
3. Ask about discounts
Many insurance providers offer discounts for things like good driving records, multiple policies, or safety features on your car. Make sure to ask your provider about any available discounts that can lower your monthly premiums. Some insurance providers also offer discounts for paying your premiums in full or setting up automatic payments.
4. Bundle your insurance policies
You may be able to lower the cost of your full coverage insurance by bundling it with other insurance policies, such as homeowner’s insurance or renter’s insurance. Many insurance providers offer discounts for bundling, so make sure to ask about this option.
The cheapest full coverage insurance providers
Insurance Provider |
Monthly Premium |
Deductible |
|---|---|---|
State Farm |
$100 |
$500 |
Geico |
$105 |
$500 |
Progressive |
$110 |
$500 |
Allstate |
$115 |
$500 |
Liberty Mutual |
$120 |
$500 |
1. State Farm
State Farm is one of the cheapest providers for full coverage insurance. They offer a range of coverage options and discounts, and their prices tend to be more affordable than other providers. They also have high customer satisfaction ratings, so you can feel confident in their service.
2. Geico
Geico is another affordable option for full coverage insurance. They offer competitive pricing and a range of discounts to help you save money. Their website is easy to use, and they have a helpful customer service team that can answer any questions you may have.
3. Progressive
Progressive offers affordable full coverage insurance with a range of coverage options. They also offer a variety of discounts, including safe driver discounts and multi-policy discounts. They have a user-friendly website and a helpful customer service team.
4. Allstate
Allstate is a popular insurance provider that offers full coverage insurance at reasonable prices. They offer a range of discounts, including safe driver discounts and multi-policy discounts. They also have a helpful customer service team that can assist you with any questions or concerns.
5. Liberty Mutual
Liberty Mutual is another affordable option for full coverage insurance. They offer a range of coverage options and discounts, including multi-policy discounts and safe driver discounts. Their customer service team is knowledgeable and helpful, and they have a user-friendly website.
Conclusion
Overall, finding affordable full coverage insurance requires some research and comparison shopping. By comparing quotes from different providers, increasing your deductible, and asking about discounts, you can lower your monthly premiums and find the best deal. State Farm, Geico, Progressive, Allstate, and Liberty Mutual are some of the cheapest providers for full coverage insurance, but make sure to shop around to find the best option for you. Remember, full coverage insurance can provide valuable protection for your car and yourself, so it may be worth the extra cost.
FAQ
1. What does full coverage insurance cover?
Full coverage insurance typically includes liability coverage, collision coverage, and comprehensive coverage. This covers everything from damages caused by an accident to repairs caused by natural disasters or theft.
2. How much does full coverage insurance cost?
The cost of full coverage insurance varies depending on a variety of factors, including your age, driving history, and the value of your car. On average, full coverage insurance costs around $150-$200 per month. However, there are ways to find cheaper options.
3. Do I need full coverage insurance?
It depends on your situation. If you have a new or valuable car, full coverage insurance may be a good option. If you have an older or less valuable car, liability insurance may be sufficient. Additionally, some lenders require full coverage insurance if you are financing a car.
4. What is a deductible?
A deductible is the amount of money you pay out of pocket before your insurance coverage kicks in. For example, if you have a $500 deductible and are involved in an accident that causes $2,000 in damages, you would pay $500 and your insurance would cover the remaining $1,500.
You can lower your full coverage insurance premiums by comparing quotes from different providers, increasing your deductible, asking about discounts, and bundling your insurance policies. Make sure to shop around and find the best deal for your needs and budget.