"Full coverage" can mean different things depending on who you ask. We don't use the term officially, but for our purposes here, you can think of it as the mandatory coverage you need, plus Collision and Comprehensive coverage.
Collision coverage pays for damage to your vehicle if you get into a collision with another object, or experience a rollover. You'll be financially protected if your vehicle is damaged after:
- a collision with another vehicle
- hitting a fixed object like a pole, wall, fence, etc.
- rolling your vehicle (e.g. by skidding on ice)
If an event like this occurs, Collision covers the costs associated with towing, repairing, or replacing your vehicle up to its current value. While this coverage is not required by law, we recommend you include it for best protection against major out-of-pocket costs.
Comprehensive includes coverage for the unexpected stuff:
- falling objects (hail, trees, alien spaceships, etc.)
We recommend Collision and Comprehensive coverage if:
- your vehicle’s value is not something you can comfortably afford to cover
- your car is less than 7 years old
- your vehicle is leased or financed (many lessors/lienholders may require you to have full coverage)
- your lifestyle requires you to have access to a vehicle at all times
Note: "Full coverage" does not mean you have all the coverage you may need for your situation. When purchasing insurance, take some time to review all your options, including increasing your liability and accident benefits coverage.