Full coverage car insurance calculator

What does full coverage car insurance cover?

Full coverage includes liability, all other coverage required by law in your state, and comprehensive and collision insurance. Liability pays for injuries and damage you cause to others. Comprehensive covers theft, fire, weather, and vandalism. Collision covers damage to your car after a crash. State law may also require personal injury protectionPersonal injury protection (PIP) pays for your medical, hospital and funeral expenses resulting from a car accident, regardless of who's at fault., medical payments, or uninsured/underinsured motorist coverage.

The liability portion is required by law in almost every state and pays for injuries caused to others and property damage you caused in an at-fault accident.

Comprehensive coverage protects your car from non-accident-related damage. If a tree falls on your car during a storm, comprehensive insurance protects you. If you get a crack in your windshield, that’s the job of comprehensive. It also covers you for theft, vandalism, and animal strikes.

Collision coverage covers repairs to your car for damage caused by a collision, whether with another car, guardrail, or tree.

Personal injury protection is required in no-fault insuranceAn auto insurance system where medical expenses are covered by your insurer regardless of fault. Personal injury protection (PIP) and medical payments (MedPay) are no-fault insurance coverages. states and pays for your medical bills regardless of fault. Medical payments coverage is also required in some states.

Uninsured/underinsured motorist coverage pays when the at-fault driver doesn’t have insurance, or doesn’t have enough insurance to cover the damage. A version of this coverage is required by law in some states.

Keep in mind that car insurance, full coverage or otherwise, does not cover regular maintenance or wear and tear on your vehicle.

How much does full coverage car insurance cost?

Full-coverage car insurance costs an average of $2,578 per year, or $215 per month. However, this is just an average – it varies from state to state and depends on your personal driving record, so always compare quotes to find the cheapest full coverage car insurance for you.

It’s more expensive than the state minimum liability that you’re required to carry on your vehicle because it covers damage to your vehicle.

Why you should choose full coverage car insurance

Choose full coverage if you cannot afford to repair or replace your car after a crash, theft, or storm. It also makes sense for newer and more valuable vehicles. A lender will require comprehensive and collision coverage if you finance or lease your car.

Full coverage can make sense when:

You finance or lease your car.
You own a newer or more valuable vehicle.
You depend on your car each day.
You cannot afford major repairs.
You cannot afford to replace your vehicle.
You face a high risk of theft or storms.

If you are financing a car, you may not have a choice. Most lenders require full coverage to protect the vehicle that they, essentially, still own.

Having full coverage means your car is covered for most types of damage. For example, if a tree branch falls onto your windshield during a storm, you’d have to pay for this damage yourself if you didn’t have comprehensive coverageComprehensive coverage helps pay for damage to your car caused by events other than a collision, such as theft, fire, vandalism, or natural disasters. It is subject to a deductible.. If you get into an accident and need extensive body work on your car, this wouldn’t be covered if you don’t have collision coverage.

Factors that affect the cost of full coverage car insurance

Your driving record, vehicle, location, mileage, and coverage choices affect your full coverage rate. Insurers also review repair costs, accident risks, and theft rates. Higher limits increase protection and cost. Higher deductibles reduce your premium but increase what you pay after a claim.

There are a few factors that affect the cost of full coverage insurance:

The make, model, and age of your vehicle. The newer and more expensive the car, the higher the rates will be. If the car needs repairing, the insurance company has to take the parts into consideration.

Your gender and age. Certain age groups are considered riskier than others, and insurance companies factor in your gender as well. Teen drivers have some of the highest car insurance rates. In some states, age and gender can’t be used for car insurance rates.

Your driving record. If you’ve had any recent tickets or moving violations, expect to pay higher rates.

Your ZIP code. Your location matters to the insurance company for a number of reasons. They look at traffic patterns, crime rates, and also severe weather trends. If you live in a risky area due to any of these issues, your rates may be higher than average.

Your coverage amounts. Generally, the higher your coverage limits, the more you’ll pay. There’s not always a significant jump by increasing your coverage, however.

The deductible you choose. You can shave a few dollars off your premium by choosing a higher deductible. This is the amount you’re responsible for if you ever file a claim before the insurance company pays its portion. Make sure you can handle the deductible you choose.

FAQ: Full coverage insurance

Is full coverage car insurance worth it?

Yes. Full coverage insurance is worth it if you can’t afford to repair or replace your car. Full coverage is the only way to protect every aspect of your vehicle and your personal liability. Also, your lender probably requires it if you are financing your car.

Should I have full coverage on a 15-year-old car?

In most cases, you won’t need full coverage on a 15-year-old car. However, if you have a loan, your lender may require it. Otherwise, you don’t want to pay more for insurance than your car is worth. You should, however, make sure you have enough money in the bank to pay for any repairs on your vehicle should something happen.

Should I keep full coverage on my paid-off car?

Yes, keep full coverage if replacing or repairing your paid-off car would strain your budget. You can remove comprehensive and collision when you can cover those costs yourself. Compare the car’s value, annual premium, and deductibles before you change the policy.

How does full coverage insurance work if my car is totaled?

If you have full coverage insurance and your car is totaled, the insurance company will send you a check for the actual cash value. Actual Cash Value (ACV) is the current market value of your car, considering depreciation. It's the amount your insurance will pay if your car is totaled or stolen. of the car minus your deductible.