A full coverage car insurance policy includes collision and comprehensive coverages, as well as the coverage types your state requires. This means full coverage car insurance almost always includes collision, comprehensive and liability coverages, but also sometimes uninsured motorist, underinsured motorist or personal injury protection coverage.
Full coverage car insurance often costs a lot more than the minimum amount of car insurance coverage your state requires. In fact, a full coverage policy typically costs twice as much as a state-minimum policy. Which makes sense — it offers a lot more coverage and protection.
Still, it’s possible to get cheap full coverage car insurance. We’ll tell you how in this article, which discusses:
- What is included in full coverage auto insurance
- How much does full coverage car insurance cost
- Which companies offer the best cheap full coverage insurance
- Do you need full coverage car insurance
What is full coverage insurance?
A full coverage car insurance policy usually includes liability, collision and comprehensive coverages. It sometimes includes uninsured motorist, underinsured motorist and personal injury protection coverages, too.
Regardless of what it includes, don’t expect to see companies like State Farm, Progressive and GEICO advertise full coverage car insurance. It’s just a term people in the know use to describe a car insurance policy that covers damage you do to yourself or your vehicle, as well as damage you do to others. Basically, it covers you as fully as possible — something that can’t be said of a state-minimum policy.
How much is full coverage insurance?
Full coverage car insurance costs an average $1,860 a year, according to our data.
How much you pay for a full coverage insurance policy depends on several factors, including:
- The company that provides your coverage.
- Where you live.
- Your age.
- Your driving record.
For example, we found that drivers with one speeding ticket on their driving records pay an average of $2,510 a year for full coverage auto insurance. That’s $650 a year more than what a typical driver pays.
We also found that drivers with one accident on their records pay an average of $3,299 a year for a full coverage policy, and drivers with a DUI pay an average of $4,377 a year for full coverage.
Where you buy your policy has a big impact on what you pay for full coverage car insurance and whether you can get cheap full coverage car insurance, too, as you’ll learn below.
Where can I get cheap full coverage auto insurance?
Our analysis of more than 200,000 insurance quotes found that Travelers offers the cheapest widely available full coverage car insurance, at $1,371 a year, on average.
That said, a regional insurance company may be the cheapest choice for you while shopping for full coverage. The best example here is Erie, which offered our sample driver a full coverage policy for an average of $1,103 a year. Erie only sells car insurance in 12 states and the District of Columbia, though, so it’s not an option for everybody.
If you’re an active member of the military, a veteran or an eligible family member, USAA might be your best option as far as cheap full coverage insurance companies are concerned. USAA offered our driver a full coverage insurance plan for an average of $1,226 a year.
Here are some other companies that offer full coverage car insurance below the national average cost of $1,860 a year.
If you don’t have a clean driving record, Erie is your best bet for cheap full coverage auto insurance — assuming you live in a state the company serves. Erie offers the cheapest rates for full coverage auto insurance if you have a speeding ticket on your record, at $1,159 a year.
These insurers also offer cheap full coverage policies to drivers with one ticket:
- American Family
|Company||After an accident||After a speeding ticket|
|Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.|
Erie also offers the cheapest rates for full coverage car insurance if you have an accident on your driving record, at $1,422 a year.
Can’t buy car insurance from Erie? Get and compare quotes from these companies, which offer similarly cheap full coverage rates to drivers with one accident:
- American Family
Drivers with a DUI on their records should get quotes from these companies while shopping around for cheap full coverage insurance, according to our research:
- National General
Each of these insurers offers full coverage car insurance policies to drivers with DUIs on their records for between $1,684 and $2,226 a year. The U.S. average in this situation is $4,377 a year, based on our data.
Do I need full coverage car insurance?
You might need full coverage car insurance if:
- Your car is fairly new.
- You’re still paying off a financed vehicle.
- You live in an area with a history of extreme weather or a high crime rate.
On the other hand, you may not need full coverage car insurance if:
- Your vehicle is old.
- Your car has a market value of a few thousand dollars or less.
- There are more than 100,000 miles on your vehicle’s odometer.
The average rates highlighted in this article are based on quotes gathered from all 50 states for a 35-year-old male driver with a clean driving record and excellent credit. He owns a 2012 Honda Accord LX and drives it an average of 16,000 miles per year. Coverage limits for this sample driver are 100/300/50, with $1,000 deductibles for both collision and comprehensive coverages.
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