Full Insurance Coverage will ensure you of covering the insured vehicle, the driver/ owner, third parties which include passengers and the other driver’s vehicle. The damages previously mentioned are covered by the Collision Coverage, a type of Full Coverage. Meanwhile, natural disasters damages to the vehicle (e.g. fire and floods), damages done by people (e.g. vandalism, theft) and damages inflicted by animals and/or to animals are covered by the Comprehensive Coverage, the second type of Full Coverage.
Full coverage even includes injured passengers riding in the insured vehicle (included in Collision Coverage). Having this kind of coverage assures you of financial stability if you are ever involved in accidents of any type. Drivers with Full Coverage attest to less pressure (on their part) and at times, lesser guilt as well, since Full Coverage is well able to pay for damages to other parties as well.
The mechanics of Full Coverage is that you are provided coverage which is dependent on the deductible you are willing to pay. The higher deductibles, the more money you would be saving in the end.
Full coverage, in its two types – Collision and Comprehensive, is very useful if one is constantly or regularly using the vehicle as his or her primary mode of transportation. In such scenarios where a person is constantly out on the road (and therefore very prone to driving hazards and traffic accidents), the Full Coverage is highly recommended.
Full coverage, however, is optional, except in the case of car loans where some companies are resolute in letting the driver acquire Collision Coverage until the full amount is paid.
The negative side to Full Coverage perhaps is its extremely exorbitant price tag. When one does not really drive much, has only low mileage, lives in a secure neighborhood (where the possibilities of theft is low) or is assured of his / her vehicle’s safety, then Full Coverage might not be really necessary. Some companies advertise in such a way that customers are made to think that they need this kind of coverage. Although it does indeed pay to be safe, the truth is, the odds of being involved in accidents (given that you are the type of driver with the descriptions above) are low.
Therefore, before deciding whether to get Full Insurance Coverage or not, one must perform an honest assessment of one’s real needs and decide if Full Coverage satisfies them or not, or if it really is necessary after all.