If I Have "Full Coverage" Auto Insurance Do I Really Have FULL COVERAGE?

The term "full coverage" has become such a popular buzzword when it comes to auto insurance that it leads to false impressions. In auto insurance lingo,  having "full coverage" simply means having both comprehensive and collision coverage on your vehicle.
In reality: THERE IS NO SUCH THING AS "FULL COVERAGE".



​  For Example:

• Having comprehensive and collision coverage has nothing to do with liability coverage. Liability coverage is always included in an auto insurance policy, but the limits of liability coverage can be set at state minimum limits (which can be very skimpy in most states).
• Having comprehensive and collision coverage has nothing to do with uninsured/under-insured motorist coverage. Those coverages are very important, and in many states they are mandatory. But in states in which uninsured motorist coverage is optional, not having it opens up a big risk.
• Having comprehensive and collision coverage has nothing to do with Medical Payments/Medical Benefits (again depending on which state you live in).
• Most policies have a deductible for both comprehensive and collision coverage. So even though you have physical damage coverage on your vehicle, if there is a deductible, there is an out of pocket expense.

Summary:
    Understand that there are several key parts to an auto insurance policy, and the term "full coverage" only applies to two of those parts. Just because you have what many call "full coverage" doesn't necessarily mean your coverage overall is adequate.

If you would like a review of your auto insurance policy, feel free to give me a call or drop me an email. I'll be happy to explain any questions you have.


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