Does "full coverage" auto insurance mean you've got everything covered?

Let me save you the suspense; No it doesn’t.

People are suspicious of insurance because of terms like “full coverage.” Insurance terms don’t always mean what you think they do.

It’s not like asking for a combo meal at a burger joint where you know it includes a burger, fries, and drink. There, everyone is usually on the same page about what they’re getting.


Full coverage auto insurance only means that you have TWO TYPES OF COVERAGE:
  1. Liability coverage. This pays for bodily injury and property damage that YOU cause while driving your car. The insurance company will pay up to a certain amount towards these costs.
    • If you don’t have enough liability coverage, YOU will be on the financial hook for the rest.
  2. Physical damage coverage for your car. You may recognize this coverage referred to as your “deductibles.”
    • You can purchase coverage for damage caused in a “COLLISION” which means you’ve hit something or someone has hit your car.
    • You can also purchase coverage for “COMPREHENSIVE” damages. This damage to your car is caused by anything other than a “collision”.

Confused?

It all sounds pretty simple when you’re BUYING insurance, but when you have a CLAIM are you sure what is and isn’t covered?

There are many other handy coverages to have when you file a claim.

For Example:

Rental car coverage: This will help pay for a rental car if your car is in the shop because of a claim.

Roadside Assistance: This will pay for emergency services you may need in your car. Things like towing, or lockout assistance.

Medical: This will pay for medical expenses you incur if you or your passenger is hurt in a wreck.

Uninsured Motorist Coverage (Spoiler alert: This is the most misunderstood auto insurance coverage!) This coverage can pay for personal injuries you or your passenger incur in a wreck that is the fault of someone that has no car insurance. It DOES NOT pay to fix your car. Here is what UM Coverage is.

These are all optional car insurance coverages. So, unless your insurance advisor explains how these coverages will benefit you, how do you know if you need them?

It’s the obligation of your insurance agency or company to first, ask questions of you in order to assess your insurance needs. Then, when they understand what your needs are, they can explain to you the insurance coverage which will best meet those needs.

With this done you will be in a better position to make the proper choices about the coverage you actually need and those optional coverages you may want.

No one wants to spend any more than they have to on insurance. So, don’t assume that all insurance policies are the same just because they are referred to as “full-coverage” policies.

You deserve Professional advice

If your insurance company or advisor is only taking your insurance “order”, this should be a red flag to you. Insurance is a significant part of everyone’s budget, and you should expect a professional evaluation with advice tailored to you and your unique needs.

Our team is focused on educating our clients first. We want to make sure you understand your needs. We want to earn your trust by focusing on your needs in the event of a claim.

We would welcome the opportunity to have a conversation about how we could help with your insurance plan. Call us at 405-340-0606

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Are you ready to save time, aggravation, and money? The team at Allen Drew Insurance Agency is here and ready to make the process as painless as possible. We look forward to meeting you!

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