Affordable Full Coverage Auto Insurance (2023)

We have all heard the term full coverage car insurance, but there is technically no standardized definition of what full coverage means in the insurance world.

However, these policies typically include your state’s minimum auto insurance required, plus additional comprehensive and collision insurance.

For most drivers, knowing how full coverage auto insurance works is vital to understanding auto insurance.

Below, discover what full coverage auto insurance covers, how much it costs based on where you live, if you need it, and what companies offer the cheapest full coverage policies.

After learning how to get cheap full coverage auto insurance below, remember to enter your ZIP code into our free rate tool above to compare quotes from the top companies in your region.

What is full coverage car insurance?

You might come across the term “full coverage” when shopping for auto insurance. But what does full coverage mean?

There is no standardized definition for full coverage auto policies in the insurance industry.

Some companies use the phrase to refer to all available coverages offered in a given state.

But the most common interpretation is that it refers to carrying a combination of insurance coverages on top of your state auto insurance requirements, notably liability, collision, and comprehensive insurance.

Collision or comprehensive insurance are optional coverages, as state laws do not require drivers to carry either.

However, if you loan or lease a vehicle, you may need to purchase both coverages as part of your loan or lease agreement.

Besides liability, collision, and comprehensive insurance, full coverage policies from some companies might also include under-insured/uninsured motorist (UM/UIM) protection and personal injury protection (PIP) insurance.

In some states, UM/UIM and PIP insurance are legally required. In other states, they are optional or may be unavailable.

It is okay that companies do not necessarily agree on an exact definition for full coverage insurance. It is more important to secure suitable types of coverage for your individual needs.

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What does full coverage auto insurance cover?

What does full coverage cover? Each insurance type protects you or your vehicle in different scenarios.

Bodily injury liability insurance covers the medical expenses for the other party involved in an accident you cause. While property damage liability insurance pays for damage to their vehicle. But your liability insurance never pays for your own medical costs or vehicle repairs.

Collision coverage pays for damage to your vehicle while in motion, like an accident involving another car, tree, or telephone pole, regardless of fault.

Comprehensive auto insurance protects your car from damage while parked and from acts of nature, including auto theft, flooding, fires, animal damage, and vandalism.

Under-insured and uninsured motorist protection covers bodily injury and property damage if someone hits you who does not carry enough insurance or does not have insurance.

If you live in a state where personal injury protection or PIP insurance is available, it pays for medical costs, hospitalizations, and additional bodily injury expenses regardless of fault and may assist with lost wages, childcare expenses, and more.

Depending on what company you use, full coverage may also refer to higher liability limits than what is required by your state laws.

Check with your insurance company to determine what is considered a full coverage auto policy. But, ultimately, you should choose the insurance types and levels you require, regardless of if it’s full coverage or not.

How much does full coverage auto insurance cost?

You now know what makes up a full coverage auto policy, but how much is full coverage insurance on average?

Nationally, based on the most recent Auto Insurance Database Report from the National Association of Insurance Commissioners (NAIC), full coverage auto insurance costs $100.30 per month or $1,203 annually, on average.

The average full coverage auto insurance costs also vary widely by state and company.

Compare the average monthly and annual full coverage auto insurance rates by state in the table below.

Because you are paying for additional protection, full coverage policies always cost more than basic or liability-only policies.

Other factors like your age, driving record, ZIP code, and the type of car you drive impact your auto insurance rates.

You are also responsible for paying the auto insurance deductibles associated with the different coverages that make up a full coverage policy. This can include collision, comprehensive, uninsured/under insured property damage, and sometimes PIP insurance include deductibles.

The price ranges anywhere from $100 to $2,000, and you can typically select different levels for the various coverage types.

What are the best full coverage auto insurance companies?

The best full coverage auto insurance company should provide you with well-rounded coverage for an affordable price.

Nationally, State Farm auto insurance company offers some of the cheapest rates for full coverage policies. It is also available in all 50 states.

Geico auto insurance company is often the next cheapest option for full coverage policies in most states.

But if you live in one of the 12 states where Erie auto insurance company operates, consider adding it to your comparison shopping list.

The insurance prices are comparable to State Farm, plus it is one of the highest-rated companies by real customers.

However, if you are an active or retired military personnel, consider USAA auto insurance company. Civilians cannot use this company, but USAA provides the lowest average rates, even for full coverage policies.

To find your best full coverage auto insurance company, compare rates online from multiple insurers active where you live. Choose the cheapest policy that meets your full coverage needs.

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Do I need full coverage auto insurance?

No state law requires you to purchase full coverage auto insurance. However, it is a worthwhile investment for many drivers.

Specifically, if the car you drive is worth more than the price of paying for full coverage auto insurance, then it is worthwhile.

Determine this by taking the cost of your annual full coverage quote and adding any deductibles to the total. Then, subtract that amount from the actual cash value of your vehicle.

Higher-value vehicles typically benefit from full coverage insurance protections. It is also worthwhile coverage if you often drive in heavy traffic or regularly park your car in a place with extreme weather or high vehicle theft rates.

If you take out an auto loan or lease a vehicle, you may be required to invest in full coverage insurance as part of the loan or lease agreement.

But if you drive a low-cost vehicle, adding the additional coverages may cost you more than simply saving up money to pay for any potential repairs out of pocket.

How do I get cheap full coverage auto insurance?

To reduce the cost of your full coverage auto policy, consider shopping around and comparing rates from multiple insurance companies. You may find a company offering you the same coverage limits for a lower price.

Additionally, you can reduce your coverage levels to lower your auto insurance rates. Pick the coverage you are least likely to use.

For example, if you’re a low-mileage driver with a new car, reduce your collision levels but maintain higher comprehensive insurance limits.

Just be aware of the risks involved with lowering your insurance levels.

You can also increase your deductible, which typically lowers your monthly costs. However, you will be responsible for paying the deductible out of pocket if you ever need to file a claim. Be careful not to select limits that are too high.

Full Coverage Car Insurance: Expert Shopping Advice

Investing in full coverage auto insurance is worthwhile if you drive a new or valuable car, loan or lease a vehicle, or if you need financial assistance replacing your vehicle if it’s ever totaled or stolen.

To secure the right full coverage insurance policy for you, compare rates from the best auto insurance companies active where you live. Pick your policy based on both price and coverage levels.

However, if you drive an older, less valuable car, full coverage may not be worth the cost.

You have learned about the average full coverage auto insurance cost, now compare quotes from the top insurance companies near you by entering your ZIP code into our free rate tool below.

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Find Affordable Full Coverage Auto Insurance

While most people have heard of full coverage insurance, what the term actually means can be confusing. Full coverage is typically a combination of liability, collision, comprehensive, and uninsured/underinsured motorist. While full coverage car insurance covers a lot, there are a few holes. You can purchase additional add-ons to protect your car.

When you hear conversations about car insurance, the topic of full coverage inevitably emerges. Insurance agents insist that full coverage is the best option for you no matter what type of car you drive.

Full coverage isn’t necessarily the best choice for you when it comes to insurance, especially if you’re on a budget. However, full coverage auto insurance does give you the best protection against any damage that can occur to your car.

However, the term “full coverage” might be confusing. Does it actually mean that your entire car is covered from all damage?

If you want to purchase full coverage insurance, comparing quotes can help you save money and find the best product for you. Enter your ZIP code into our free tool to discover what rates might look like for you.

What is full coverage insurance?

The typical full coverage policy combines comprehensive and collision with liability to give your car as much protection as possible. Extended coverage accompanies higher rates — full coverage costs considerably more than state-required liability coverage.

Full coverage doesn’t cover everything, but it does offer a lot of protection:

• Bodily injury liability – Nearly every state requires liability coverage, and bodily injury is half of it. If you cause an accident and a driver, a passenger, or a pedestrian is injured, bodily liability will cover their medical expenses.
• Property damage liability – The other half of minimum coverage protects you from paying for damage you cause to buildings, cars, and other property resulting from an accident.
• Collision – While not required, collision will pay for your car repairs after an accident, no matter who is at fault.
• Comprehensive – Collision protects you from hitting things, and comprehensive covers almost everything else. Comprehensive pays for repairs if your car is damaged by animal contact, vandalism, theft, or weather.
• Uninsured/underinsured motorist – Although most states require insurance, not every driver has it. This coverage protects you from drivers with inadequate insurance.

While this list seems like it offers complete coverage, there are gaps. However, you can buy add-ons to your policy to protect your car, such as roadside assistance, new car replacement, and custom equipment coverage.

Who needs full coverage car insurance?

Full coverage is not a state requirement, but you might still need it. Even if you don’t, full coverage can protect you from expensive bills and repairs that liability alone can’t.

If you’ve financed or leased a car, you’ll likely need to obtain full coverage on the vehicle. Lenders want to protect their automobile until you’ve either paid for it or traded it back in, and full coverage is the best way to do that.

While it’s true that full coverage costs more, you should consider it if any of the following applies to you:

• Your car is new or of high-value.
• You need to regularly commute through heavy traffic.
• Replacing or repairing a totaled or stolen car is not within your budget.
• You have a loan or a lease.
• You live in an area with an increased risk that you’ll have to make a claim, such as extreme weather patterns or high car theft rates.

If your car is more than ten years old, full coverage might not be worth the price. If you need to make a claim, your insurance company will pay you for whatever your car is currently worth. You’ll also need to meet your deductible — if your car is only worth a few thousand dollars, you can likely avoid full coverage.

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How much is full coverage insurance?

There are many factors that affect the price of your insurance:

• Age
• Gender
• Driving record
• Credit score
• Make, model, and year of your car
• Marital status
• Location

While all these factors comprise the price of your insurance, you can still compare by state to gain an idea of what the average driver pays.

Considering that the average price is a good starting point, keep in mind that your rates will alter with your circumstances.

Best Companies for Full Coverage

Another place to begin looking for insurance is at some of the biggest insurance providers in the country. Again, rates will change based on your circumstances, but you might get an idea of where to look for quotes.

In general, Geico and USAA are some of the most affordable options on the market. While USAA has affordable full coverage options, they only sell to active or retired military members and their families.

When you decide which company to use for your insurance needs, talk with your agent about discounts. Most insurance providers have discounts you can take advantage of to save money. Some of the most common discounts include the following:

• Good driver
• Good student
• Paid-in-full
• Anti-theft devices
• Anti-lock brakes
• Claim-free
• New car
• Policy bundling
• Multi-car

Ideally, you’ll be able to accumulate a few discounts to receive deeper savings on your insurance.

Some insurance companies, such as Progressive, have programs you can join that track your driving. After the company gathers sufficient data regarding your driving habits, you can save additional money.

Find the Best Full Coverage Rates Today

Even though full coverage insurance is more expensive than state minimum requirements, it can be well worth the price if something happens to your car. While it doesn’t protect your car completely, it can save you thousands of dollars.

If you’re ready to review full coverage quotes, comparing rates with as many companies as possible is integral to finding an affordable price. Enter your ZIP code into our free tool to determine what rates might look like for you.

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