When you are out driving, you don’t know what’s going to happen on the road. You could have a completely pleasant drive or your vehicle might get damaged. While no one likes to think about it, accidents can happen at any time.
If you are not prepared financially, these accidents and damages can cost you a lot financially. Fortunately, there are ways to make things easier, a full coverage insurance for once.
You may wonder if your basic liability insurance is enough to keep you protected. This is where full coverage car insurance comes into play.
Many people are unsure whether the added cost is worth it, but full coverage offers benefits that can make a big difference when it counts.
To give you an idea, here are some benefits of getting full coverage car insurance.
1. Protect Your Vehicle from More than Just Accidents
Basic car insurance usually covers damage caused by accidents, but what if something else happens? Full coverage auto insurance typically includes both collision and comprehensive coverage. This means that in addition to accident-related damages, you’re protected from a range of other incidents.
Comprehensive coverage takes care of things like theft, vandalism, fire, and even weather-related damage like hailstorms or floods. If your car is stolen or a tree falls on it during a storm, you won’t be left paying out of pocket for repairs or replacement.
With full coverage, your car is protected from a variety of risks, not just collisions.
2. Coverage for Both Your Car and the Other Party’s in an Accident
If you are involved in an accident, liability insurance covers the damages to the other driver’s car and their medical bills. However, it won’t cover repairs for your vehicle.
If you’re found at fault in an accident, you could be stuck paying for your own repairs or even a replacement car if the damage is severe enough. With full coverage auto insurance, you’re protected no matter who’s at fault. Collision insurance, which is included in full coverage, will help pay for repairs to your vehicle after an accident.
This can save you from huge repair bills that could otherwise cause financial strain.
3. Safeguard Your Finances from Unforeseen Costs
Car accidents and vehicle damage often come with surprise expenses. Whether it’s a deductible, repair costs, or replacing personal belongings inside the car, the bills can add up quickly.
Full coverage car insurance offers more than just vehicle repairs; it often includes additional perks like rental car reimbursement and roadside assistance. These features are particularly helpful when you’re dealing with an accident and need to get around while your car is being fixed.
Without full coverage, paying for a rental car or a tow can be a major inconvenience. But with full coverage auto insurance, these services are typically included, giving you one less financial worry during an already stressful time.
4. Satisfy Loan or Lease Requirements
If you have financed or leased your car, your lender or leasing company may require you to carry full coverage insurance.
This is because they have a vested interest in the vehicle’s condition until you’ve paid off the loan or returned the lease. If something happens to the car, the lender wants to ensure that it’s either repaired or replaced to protect their investment.
Having full coverage auto insurance in this situation isn’t just a good idea; it’s often mandatory. By maintaining this level of coverage, you will meet your lender’s requirements and avoid any penalties that may come from failing to do so.
