Have you ever shopped around for “full coverage” auto insurance online only to come up empty-handed? That’s because there really is no such thing as a “full coverage” policy. When most people talk about this type of policy, there are referring to a combination of coverages that offer the highest level of protection for their passengers, vehicle, and other drivers that may be involved in an accident that they caused. However, it is possible to work with your trusted independent insurance agent to come up with the right combination of auto insurance coverages that will provide you with the most comprehensive auto insurance policy. When you work to design a great car insurance policy, you can enjoy greater peace of mind on the open road. Keep reading to learn more about the benefits of comprehensive coverage from Krog Insurance.
What is “Full Coverage” Auto Insurance?
Most states require all drivers to carry liability coverage that works to cover any third party when you are responsible for an auto accident. In addition to liability coverage, you may also want to consider uninsured motorist insurance, underinsured motorist insurance, collision insurance, and comprehensive insurance coverage to complete a “full coverage” policy.
Liability Insurance
Typically required by state laws, this essential auto insurance covers the cost for third party injuries and vehicle repairs in the event of a covered accident where you are found to be at fault.
Uninsured Motorist/Underinsured Motorist Coverage
If you are in an auto accident where the other driver is at fault, but they do not have proper coverage, uninsured motorist coverage will kick-in to help cover the cost of any damages you incur. Additionally, underinsured motorist coverage works to help pay for your medical expenses and repairs if the at-fault driver has inadequate liability insurance coverage limits.
Collision Insurance
If you are found to be at fault for an accident, this coverage will help to pay for repairs to your vehicle. However, it doesn’t extend to the third party’s vehicle or any related bodily injuries.
Comprehensive Insurance
An additional insurance option that covers the cost of certain damages to your vehicle that are not related to a collision. Covered damages may include accidents related to fire, theft, vandalism, and inclement weather.
A typical “full coverage” car insurance policy should cover:
- Any damage that you cause to other drivers, up to your policy limits.
- Your vehicle, up to fair market value, minus your deductible.
- Your injuries or any passenger injuries, up to the amount of your medical coverage.
- Your injuries or any passenger injuries, if you are hit by an uninsured or underinsured driver.
Do I Need Full Coverage Auto Insurance?
While you are required to carry the state minimum limits for the state of Minnesota, anything beyond that is considered to be optional coverages. However, many responsible drivers choose to invest in additional coverage options to help provide better overall protection for themselves, their loved ones, their vehicle, and other drivers on the road. It’s also important to keep in mind that the state minimum liability coverage will not work to repair or replace your vehicle. If you owe money on your car, your lender will most likely require that you purchase an auto insurance policy that includes comprehensive and collision coverage until the loan is paid in full.
Contact Krog Insurance Today
Interested in learning more about the benefits of investing in a comprehensive car insurance policy with your local Minnesota agency? Give us a call at (651) 747-7824 in St. Paul and (218) 749-4225 in Virginia or contact our friendly agents online today to request a free quote.
