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Full Coverage Auto Insurance

A full coverage auto insurance policy costs on average $2,520 per year, or $210 a month. This is more than double the average cost of auto insurance premiums that only meet the state's minimum standards. With an average annual cost of $1,620 or $135 per month, Allstate is our pick for the most commonly available, and cheap full coverage car insurance policy in the world.

Best Full Coverage Car Insurance Companies In Your Area

Prices for full coverage plans, on the other hand, differ greatly by state and insurer, and we've examined the rates of the major insurers in each state to determine which are the most affordable on average. We also have suggestions for the best full coverage car insurance companies in the world, since the cheapest insurer isn't always the best.

In the end, no one insurer will be able to provide the most reliable full coverage car insurance quotes for all, so it's best to use our findings as a starting point for looking for low-cost full coverage auto insurance in your region.

The Cheap Full Coverage Car Insurance Companies

With an average annual cost of $1,620, or $135 per month, Allstate is the cheapest commonly available company in the country for full coverage policies, according to our research.

However, depending on your place and eligibility, there are a variety of low cost car insurance options:

Progressive is the cheapest full coverage car insurance  choice among the sampled insurers, at $115  a month. However, you must be a current or retired military member to be qualified.

Erie insurance is also less expensive than Allstate, averaging $124 a month. However, it is only accessible in 12 Northeast and Midwest states.

Finally, if a Farm Bureau partner in your state offers auto insurance, a full coverage policy costs almost the same as State Farm: $140 per month on average.

When compared to a minimal coverage policy from the same insurer, the extra insurance provided in a maximum coverage policy costs an extra $125 per month.

What is the cost of full coverage auto insurance in each state?

State regulations govern auto insurance, and rates differ significantly depending on where you live. The average monthly cost of a full coverage policy is compared to the cost of policies that only meet state minimum coverage criteria in the table below. Full coverage plans are about three times as costly as minimal coverage policies on average.

To find our suggestions for the best car insurance plans in your state, full coverage and otherwise, click on the corresponding page.

The best full-coverage auto insurance providers

When it comes to choosing a car insurance policy, you can always look for the best deal. However, if you're looking for more than just a good deal, consider other considerations such as customer service and coverage options.

Based on a combination of price, customer service, and coverages, we've outlined our picks for the best full-coverage car insurance companies below.

Auto insurance providers with the best full coverage

Geico is the most commonly available insurance provider.

Allstate is the best choice for drivers.

USAA is the best insurance provider for military families.

Is it worth it to buy a full coverage policy?

Given that full coverage plans are on average three times more costly in any given state, you'll want to make sure the extra expense is justified.

Full coverage auto insurance plans are usually — but not always — characterized as policies that provide comprehensive and collision coverage in addition to the state-mandated minimum coverage, such as liability coverage. These extra coverages, unlike liability coverage, shield the car from physical harm caused by other drivers' cars.

A full coverage policy is often described as one that includes uninsured or underinsured motorist coverage, as well as personal injury insurance. What counts is that you purchase adequate coverages for your case, not the exact concept of full coverage.

When the current value of your vehicle reaches your monthly premium plus your premiums, full coverage plans like comprehensive and collision insurance are a good investment.

What is the concept of a maximum coverage policy?

Although there is no universally accepted term, a maximum coverage strategy is one that provides  comprehensive and collision coverage. States do not mandate these coverages to be included in an auto insurance policy, so they are optional.

Comprehensive Insurance

Damage to the car caused by so-called actions of God, as well as damages not directly related to driving, is covered by comprehensive insurance. This includes, but is not limited to, the following:

• Weather-related damage, such as hail or falling trees
• Theft or vandalism
• Animals on the road have an effect.
• Collision coverage

Collision insurance pays for damage to your car when it collides with another vehicle or a fixed structure. This may involve things like you colliding with another driver's vehicle or vice versa. You collide with stationary objects, either as a result of driver error or as a result of hazardous conditions. A hit-and-run accident involving your vehicle Deductibles are a part of both collision and comprehensive insurance policies. When you file a claim, the insurer will deduct a certain amount from your payout. To give you an example, if your $6,000 vehicle is totaled and you have a $1,000 deductible, the insurance company will offer you $5,000 to cover the cost of repair. The remaining $1,000 must be paid out of pocket.

What other coverages could a maximum coverage strategy include?

When an insurer says "absolute coverage," they may be referring to a package that includes all of the available coverages. This may include, in addition to liability, extensive, and collision coverage:

Uninsured motorist coverage pays for the medical bills and collateral loss if another driver is at fault in an accident and does not have auto insurance. In certain states, this coverage may be needed.

Underinsured motorist compensation reimburses damages incurred as a result of an accident in which the at-fault driver has auto insurance, but the limits are insufficient to cover the expenses.

Personal injury insurance (PIP) pays for injuries you suffer in a car accident, regardless of who is at fault. In "no fault" states, it may be needed.

Is it worthwhile to purchase a maximum coverage policy?

If your vehicle is still valuable enough to merit a lawsuit, it's worth purchasing a maximum coverage policy because comprehensive and collision protect the value of your car. Full coverage is worthwhile because the present value of your vehicle outweighs the expense of adding full coverage plus your deductible.

The following table uses the average cost of Allstate full coverage policies as an indicator of when full coverage is worth the money:

In this case, the car's worth is greater than the sum of the annual fee and deductible. Your insurer will reimburse you for more than $4,400. On the other hand, here's an example of when comprehensive coverage isn't worth the money:

You have a much less expensive vehicle in the second scenario. Because of the expense of adding complete coverage and the resulting deductible, a claim's worth is negative. In this case, full coverage insurance isn't going to help you out.

These are, of course, only hypothetical cases. These variables could be influenced by a variety of factors. For example, the cost of adding full coverage to your car may be significantly less or significantly more.

• You can change the deductible to impact the cost of your insurance as well as the value of a lawsuit.
• Your car's value may differ significantly from these examples, but it will decrease each year.
• When looking for full coverage insurance, drivers should consider all of these variables to see if the policy is right for them.

Where will I find low-cost full-coverage insurance?

There are two ways to get cheaper full coverage auto insurance in the short term: buy around and reduce coverages.

You should shop around to see if different insurance firms rate you differently, and you may be able to get the same policy at a cheaper price if you shop around.

Reduced coverages will result in lower premiums in exchange for less insurance from the insurer, but the trade-off could be worthwhile depending on your personal circumstances and risk tolerance.

How to find full coverage protection by shopping around

The aim of comparison shopping is to find comparable insurance coverage at a lower cost. When comparing insurance plans from different companies, make sure that:

• Consistent liability limits are chosen by you. If you choose $25,000 in bodily injury liability per person, $50,000 in bodily injury liability per accident, and $25,000 in property damage liability per accident when shopping with an insurer, you can choose the same options when shopping with comparison insurers.
• For comprehensive and collision policies, you choose the same deductible. Increasing your deductible reduces your policy's expense, and vice versa.
• All other coverages, such as uninsured/underinsured motorist coverage, personal injury insurance, among others, have the same coverage restrictions. Additional safeguards are more expensive.

Following these measures, you'll discover that different insurers sell the same coverage at different rates. Your neighbor's best and cheapest car insurance company might not be the same as yours.

How lowering your insurance premiums can be achieved by reducing your coverages

You will also save money on your premiums by lowering your coverage. Consider the following scenario:

• You should forego accident and thorough coverage. You won't have a full coverage strategy in this situation. However, if you have a low-value vehicle, as in our case, the savings would be worthwhile.
• You have the option of raising the deductible. If you raise the deductible, the sum the insurer would reimburse you in the event of a claim will be reduced. You'll pay a smaller premium in return.
• Liability and other coverage limitations may be reduced. When you lower your liability limits, you're reducing your insurer's cover. If you're at fault for an accident, you should be mindful that you're putting yourself at risk of not being able to use your insurance to cover the full cost of personal harm or property damage to others.

However, bear in mind that lowering your coverages carries some risk. Although it might make sense to forego extra coverages that offer needless insurance on occasion, you risk having inadequate coverage in the event of a costly accident.

If you raise your deductible, you increase your out-of-pocket costs when filing a lawsuit, so you risk depleting your savings in the event of an accident. If your insurance isn't adequate to cover a major accident, lowering your liability limits could expose you to unexpected costs.