Where to Find Cheap Full Coverage Car Insurance

Fran Majidi
January 27, 2021

Have you been Googling “cheap full coverage car insurance near me” and finding that everything is still expensive? You’re probably not looking at the right insurers. If you’re a good driver with a clean record, you’ll want to be with an insurer who praises you with the steepest discounts. Do you have a spotty driving record? Did you know that some insurers specialize in high-risk drivers, like those who need SR22s for DUIs and other traffic violations? Or are you really young and inexperienced and getting priced out of car insurance? Are you a new driver but older and still getting really expensive car insurance quotes? Well, this article is going to help you find cheap full coverage car insurance at the lowest prices no matter what your situation, so, let’s dig in.

What Is Full Coverage Car Insurance?

The more insurance coverage you buy, the more it will cost you. For limits at 50/100/50 expect to pay about $750 per six month policy or $125-$130 a month in premiums. The term full coverage usually refers to a policy that includes liability, collision and comprehensive coverages. Liability is required but collision and comprehensive insurance, which are often bought together, are options unless you have a loan on your car, at which point the lender probably requires you to carry full coverage car insurance. But you want cheap full coverage car insurance that beats the pricing we listed above!

What Are Collision and Comprehensive Insurance?

Collision coverage protects your vehicle by paying for repairs if you collide with another object or another car. If you’re at fault in an accident, this is the only coverage that will pay your bills. Liability always pays the other guy when you’re at fault, never your repairs.

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Comprehensive insurance protects your vehicle in all non-accident related incidents, except if items were stolen out of your car (in which case, go to renters or home insurance to file a claim). Comprehensive will take care of repair payments if you hit an animal on the road, if your car is stolen and if your car is vandalized. IIt will also take care of damages caused by severe weather. Depending on where you live, this may be a good coverage to have.

What Isn’t Covered by Cheap Full Coverage Car Insurance?

That’s a good question because “full coverage” does not include everything. There’s also uninsured motorist and underinsured motorist coverage which would be beneficial if you were to have an accident with someone who didn’t have insurance or not enough of it.

There's also medical payments coverage which would help pay for medical and/or funeral expenses after an auto accident. It is required in New Hampshire, Pennsylvania and Maine but may be available in your state if you do not live in a state where it’s required. This coverage applies regardless of who is at fault in the collision.

Personal injury protection (PIP) is another coverage that is good to have. PIP is required in some states and it provides medical expenses and coverage for work if you have to miss it due to an accident. Passengers are also covered regardless of fault.

Roadside assistance and towing is a great coverage to have if you’re not an AAA member. You never know when you may need help on the road!

Rental car reimbursement is another coverage you may want to consider. If you have full coverage, you may not need it. Just check with your insurance agent because renting a vehicle may be pricey if you’re insured for it when your car is in the shop.

Gap coverage is also important. If you owe more than the worth of your car and have a collision that results in a total loss, you may need gap coverage to pay off the remainder of your loan. Without it you may owe thousands of dollars on a car you can never use.

How to Find Cheap Full Coverage Car Insurance that Is Good

We suggest comparing rates with SmartFinancial, which works with insurers who specialize in good drivers and insurers who specialize in drivers with points on their license. They will compare rates across the board with over 200 insurers to match you with the one offering the lowest rate for cheap full coverage car insurance. Note that when you add full coverage to your car insurance, you will approximately double what you pay in liability alone. On average, for a person with an inexpensive car, that’s about $400 every 6 months, compared with liability alone which costs about $330 a month, but rates vary per driver, the value of the car and driving history and these are just averages. You may end up paying as little as $100 to $115 a month, depending on your risk profile. The carriers who offer the lowest rates are Nationwide and GEICO. SmartFinancial works with cheap full coverage car insurance companies that are legitimate and have the financial strength to pay out claims if you ever need help after an accident.

Keep in mind that if you have an expensive car your rates will be high. It only makes sense. If you’re in an accident, the insurance company has to pay the claim and damages will be even more expensive to repair than say on a Honda Civic. So finding cheap full coverage car insurance is relative. You may never have cheap insurance but you can find a rate that’s cheaper than what you have now.

Cheap Full Coverage Car Insurance for High-Risk Drivers

Some insurers specialize in high-risk drivers and are able to offer more reasonable rates than other insurers who will simply penalize you heavily. If you have had a DUI, traffic citations, or if you have poor credit, you may be paying too much. SmartFinancial takes this into account when they compare rates for you. All you have to do is start by entering your zip code and you’ll be matched with the right insurer.

State Farm has the reputation of offering the cheap full coverage car insurance for high-risk drivers. Progressive and Geico do as well. You may be paying anywhere between $3,000 to $6,000 a year with a DUI, with speeding tickets, anywhere between $1,700 and $4,000, maybe even more depending on the violations and if you had an accident.

Cheap Full Coverage Car Insurance for New Drivers

Statistics show that young and newer drivers exhibit risky behavior when driving. They also have high incidents of car accidents. Knowing this, insurers charge higher rates. Young drivers can expect to pay anywhere between $1,700 and $10,500 a year in insurance. Most rates fall between $4,000 and $6,000 and vary according to the state of residence. Again, State Farm is the leader in cheap but reliable insurance products, but it’s important to compare because each person is rated differently by each company.

One way to avoid exorbitant rates if you are a young driver is to have parents add you to their policy. It may raise their rates, but it won’t be anywhere as expensive as you taking out a policy on your own.

When Should I Not Buy Cheap Full Coverage Car Insurance

The rule of thumb is that if your car is worth less than $4,000 it makes little sense to buy full coverage car insurance. If you were to total your car you’d only get the car’s worth. You may be paying more in insurance than what you get back, after you pay a deductible, if you buy collision on a car that is worth, say, $2000.

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