Does the term ‘full coverage’ instantly conjure thoughts of a big expense? The reality is that there isn’t any such thing as “full coverage car insurance.” So what are people referring to when they say the have full coverage? What they are referring to is that they’re carrying physical damage coverage in addition to liability coverage on their car.
Contrary to what you might think, opting for full coverage on your auto insurance policy could actually save you thousands of dollars or more in the long run. Continue reading at smithinsurancewi.com to find out more about full coverage really is and how affordable it really can be.
So what is Full Coverage Car Insurance?
No one wants to drive a beat up vehicle with dents, broken glass, and duct tape. And no one wants to lose their vehicle altogether due to an accident or event beyond his or her control. After all, we depend on our vehicles to get back and forth to work, to do our shopping, and to shuttle our kids around town. Full coverage auto insurance is designed to take the financial bite out of vehicle damages by providing reimbursement for repairs and losses. So what is it, exactly?
Put simply; full coverage is not a type of insurance on its own. In fact, the term “full-coverage” doesn’t appear in any insurance policy at all. Instead, it is a term used by people and some insurance agents to describe the combination of collision and comprehensive coverage on an insurance policy. Together with liability, these two types of coverage relieve much of the risk that comes with the purchase and use of a personal vehicle.
How Much Can Full Coverage Save You?
Full coverage may sound good on paper, but in what ways could it benefit you directly? It can be hard to understand the application of its benefits – particularly if you have never been in a situation that would have warranted a claim for damages to your vehicle. Imagine the following two scenarios:
Scenario 1:
A 30-year old couple recently paid $15,000 cash for a used minivan to meet the space needs of their growing family. After just a few weeks of ownership, the minivan is t-boned by an uninsured driver. Although no one sustained major injuries, the minivan is totaled beyond repair. Unfortunately, the couple failed to purchase collision insurance. Unable to recover any of their losses from the other driver, the couple has lost all of the money they paid for the van and is now without adequate transportation.
Scenario 2:
A man retires from his job after decades of service. He uses some of his savings to pay off his vehicle loan and then drops full coverage to preserve more of his retirement income. When a storm blows through town, it sends a tree limb tumbling onto his car, incurring thousands of dollars worth of damage. Had he kept his full coverage, the incident would have been covered entirely, and he would have only had to pay for his deductible to have it repaired and back on the road.
Save on Full Coverage Auto Insurance Quotes
No one knows what the future holds. Even the safest drivers can find themselves the victim of significant financial loss after an accident. Don’t take a chance with cut-rate coverage. Talk with an independent agent at Smith Insurance and Financial Services here in Big Bend to find out how full coverage could minimize your risks and maximize your peace of mind. Call us today to see how much we can save you with a free, no-obligation quote. We look forward to serving you soon.
