The difference between liability and full coverage is straightforward. Liability insures against the damage you could cause other people or their property while on the road. Full coverage applies to damage to your vehicle. Liability coverage is a legal requirement in almost every state. Getting the correct auto insurance for your new car at the best price may seem like a major task but with the help of an auto insurance broker you can get the right amount of coverage for your specific needs.
Liability vs. Full Coverage
In the US, liability car insurance is required in almost all 50 states. Liability insurance pays the other party for property damage and bodily injury if you are at fault in the accident. The decision to get full coverage auto insurance is completely up to you. Full coverage would cover you and your vehicle if you were at fault for all property and bodily injury. If you do not have full coverage you will have complete responsibility for paying full price out of pocket for the cost of repairs, medical bills or a whole new car if you get into a major accident.
Who Would Benefit Most From Full coverage?
You must remember full coverage will cost your more in premiums but could save you a lot of money in the long run . If you purchased your car with a bank loan you will not have a choice. Your lender will make you get full coverage in order to protect the asset while you are making payments. If you pay cash for the car then you have the option of purchasing full coverage..
Three Questions to Ask Yourself About Purchasing Full Coverage…
- Can I afford to replace the vehicle if it were totaled? If the answer is no you need full coverage.
- What is the cost of your vehicle? If you have a inexpensive car that if totaled would not justify the investment in a high monthly premium for full coverage you do not need full coverage.
- How much risk are you willing to take? Insurance is really just paying to transfer your risk to another party. Are you a risk taker? if so then you do not need full coverage, take a chance, on accidents. However if it is going to cause you sleepless nights then it is better to have peace of mind and purchase full coverage.
Rollins Insurance represents multiple A-rated insurance companies to make sure we deliver the most competitive rate packages to our clients in Kentucky and Ohio.
Rollins Insurance is an independent insurance agency providing our clients the best prices with the most coverage possible since 2008. We represent multiple A-rated insurance companies to make sure we deliver the most competitive rate packages to our clients in Kentucky and Ohio. We find that most people are under-insured and over-paying when we meet them. We love what we do and our primary business is Personal Auto, Homeowners, and Life and Health insurance. We are a family-owned and managed business that specializes in providing needs-based insurance services.
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