Most of the time we hear tips on how to decide what types of coverage to get that we on the very first place must consider what we actually need, but in reality we mostly decide not based on what seems to be necessary but based on what is the most affordable.
Well it is a legitimate consideration given the world’s economic standing. However not just sometimes but most of the times the aim of paying the cheapest defeats the main purpose of having car insurance policy.
If you wanted the utmost service that would really suit your needs, you can go for a full coverage car insurance. But is there really a full kind of coverage?
Full Coverage was said to come from lien holders and by term they mean the Physical Damage Coverage which consists of Comprehensive and Collision Coverage. If you are leasing or financing your car, Comprehensive and Collision Insurance are most likely to be required to you by your bank or finance institute. There may be some ambiguity about full coverage and some would doubt its existence. Full coverage exists. It is just that it has differing faces. It is just a matter of a degree of fullness.
Most people refer to the Liability, Comprehensive and Collision Coverage as Full Coverage. Liability Insurance will handle the damages you caused to the other party this includes any bodily injury or even death expenses. Comprehensive Insurance will take care of the damages to your car from theft, vandalism, fire, windstorm and the like. Collision also covers the damages of your car in case of an accident and this is regardless of whose fault it is.
Another degree of fullness Full Coverage Car Insurance can provide includes Liability, Comprehensive, Collision, Personal Injury Protection and Medical Payment (MedPay), Uninsured/Underinsured Motorist (UM/UIM) and Uninsured/Underinsured Motorist Property Damage (UMPD). In addition to the three coverage discussed above, other protections were added this time to give better protection. With Personal Injury Protection (PIP) your insurance company will pay a part of your medical expenses and lost wages. It covers other expenses which may include housekeeping needed while you were injured, lawn maintenance, and reimbursement of mileage expenses for travels related to medical treatment. Uninsured/Underinsured Motorists and Uninsured/Underinsured Motorist Property Damage take care of you in accidents where the one at fault is an uninsured motorist.
Going further, another face of full coverage involves all the coverage mentioned above plus other extra services for instance we have Roadside Assistance.