Auto insurance coverage – the basics

Auto insurance coverage - the basics

To know what full coverage is, you first need to understand that this is a trick question. There is no such thing as “full coverage.” We know what you are thinking. It can not be true. You’ve probably heard the term from friends, family, and even the dealer who sold you your car if you took out a loan to pay for it. The truth is that it is just saying. It’s a very common misconception, but it can be dangerous if you don’t know the true meaning.

What you need to have in your policy to be considered “full coverage” is just regular liability plus comprehensive and collision coverage. Simply put, regular liability is the insurance you must have to drive, which protects other people and your property. Collision and comprehensive coverage protect you and your car and require you to pay a deductible, which is a portion of the price of repairs before your insurance company intervenes.

Having all of those coverages is fine, but don’t think you’re completely protected just because you have full coverage. There are many other coverages available. By thinking that you have full coverage, you may think that you have protection against things that you are not protected from. It may surprise you to learn that you are not protected if your vehicle is hit by an uninsured driver or that your custom tires are not covered by your policy in the event of a theft.

Don’t be caught off guard by thinking you have full coverage. Familiarize yourself with the terms of your policy and your Declarations Page to learn which specific coverages you have, and which you don’t.

It is dangerous to drive without understanding the type of coverage you have. Familiarize yourself with the type of coverage you have in your auto insurance; this will help you make better decisions when driving. To better understand your coverage, follow these steps:

One: Know the different types of coverage

Reviewing your auto insurance policy can seem overwhelming, but once you understand the most common types of coverage, things get easier. At a minimum, your policy should include basic liability and property damage coverage. Other features and classes of coverage include:

  • Coverage for uninsured drivers: Your policy could protect you from other drivers who drive without insurance, or even uninsured drivers behind the wheel of your car.
  • Personal Injury Protection and Payment of Doctor’s Bills: Doctor’s bills can easily pile up after an accident. If you are responsible for an accident, you could owe a lot of money to the other driver and passengers involved. Having coverage could help you save money and avoid bigger problems.
  • Roadside assistance: There is nothing scarier than getting lost and not having a plan, and for this reason, having roadside assistance gives you the peace of mind that you will never be abandoned in the middle of the road.
  • Comprehensive and collision coverage: Having an accident on the road may make you think you need the best insurance, but with comprehensive coverage, you will be protected even in cases of theft or damage that occurred without an accident.

Two: Check your Policy

Many people take for granted that they have full coverage without knowing what options they have in their policy. Comprehensive coverage can mean many things, which can vary from company to company. So the best way to know what your coverage includes is to read your policy. This way you will know what type of protection you have. There are many types of coverage, so write down the clauses in your policy that you don’t understand.

Three: Ask your insurance agent

Call your insurance agent if you have questions about your auto insurance policy. Your agent is the best person for any questions, no one else understands your policy better. So talk to your agent about your questions and concerns.

The best way to drive is to be carefree. Set a goal today and review your insurance policy carefully. 

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By Cary Grant

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