Do you need full coverage car insurance? Only you can answer that. However, before you do try knowing what the term actually means. It may not be what you need.
Full coverage car insurance simply means a policy that entitles claims for you and the passengers’ medical expenses for injuries sustained in accidents. This policy provides cover when you are at fault, otherwise, the policy of the one at fault settles the medical expenses. A full policy will not be without its usual liability coverage which allows policies to settle claims of other parties injured in the accident or car mishap. Liability coverage takes up most of the cost of car insurance since it includes medical treatment, legal fees, loss of wage, and even funeral services. If liability coverage is not enough to pay for all medical expenses, then, you may have to sell assets to pay the whole amount.
Other add-ons that make a policy full coverage are damage to property, collision, comprehensive, and uninsured/under-insured motorist coverage. Damage to property allows you to pay claims against you for damages to cars and other properties in accidents you caused. Collision pays for damages to your car should you hit an object while driving. Collision coverage is also needed by people who drive cars that are on financing schemes. The financing firm will require them to have one. It pays for repairs or replacement in case the car is totaled. Uninsured or under-insured motorist insurance pays for damages inflicted by motorist who does not have insurance or whose insurance is too small to pay for damages and injuries. Comprehensive coverage takes care of car damages caused by acts of nature such as fire, flood and others. Full coverage car insurance means a policy that covers all injury and damages to property bills caused by you and others including damages caused by nature. The question now is do you need all these?
The type of car you drive, budget, and diving patterns provide an answer to the question. If you drive a cheap or a car worn out by long years of use, full coverage is nonsensical. You can end up paying premiums higher than the price of the car. When driving an expensive car on financing and travelling a lot, full coverage car insurance may be more applicable, but there is budget to consider. It is not really actually necessary to have to get the whole range. A comprehensive coverage and collision coverage may be add-ons that will bring protection that you need.