Full Coverage Auto Insurance for Military and Veterans: Advantages and Disadvantages

Is full coverage auto insurance worth it? If you want everything the best auto insurance companies for veterans have to offer, buy full coverage auto insurance. Full coverage auto insurance is a complete package for drivers who want to maximize their auto insurance benefits.

However, full coverage insurance can be costly depending on several factors that determine auto insurance. Knowing the pros and cons of full coverage auto insurance can help you save money and secure cheap full coverage auto insurance.

Continue reading our guide to learn more about full coverage auto insurance and why full coverage auto insurance is a good idea for most drivers.

The Pros and Cons of Full Coverage Auto Insurance

Full coverage auto insurance is collision and comprehensive coverage added to your required coverages on your auto insurance policy. When you buy auto insurance, you’ll need the minimum auto insurance requirements, which often is, at the very least, liability auto insurance. When you want more perks to your auto insurance policy, you can add collision and comprehensive coverage for a full coverage policy.

Full coverage protects your vehicle whether you’re at fault or not in an accident. Let’s go through each coverage below so you can better understand how full coverage works. Some of the coverages you may be required to carry by your state are as follows:

• Bodily Injury Liability: Bodily injury liability insurance focuses on paying for the other driver’s injuries after an accident.
• Medical Payments: MedPay ensures that you have medical coverage for you and your passengers if your bodily injury liability runs out.
• Personal Injury Protection: This is a no-fault coverage that pays for lost wages, child care expenses, funeral costs, and other personal losses after an accident. If you want reassurance that your injuries will be taken care of, add personal injury protection (PIP) insurance to your policy.
• Property Damage Liability: If another party’s vehicle is damaged after an accident, your property damage liability auto insurance coverage will pay for damages or the car’s total loss.
• Underinsured Motorist Coverage: Underinsured motorist coverage compensates you when the other party doesn’t have enough on their coverage limit to pay for injuries or damage.
• Uninsured Motorist Coverage: Uninsured motorist coverage pays for injuries and property damage when you’re in an accident with a driver who doesn’t have auto insurance.

Some of these coverages are optional in some states, but other states may require them. Now that you know what mandatory coverages you need on your policy, your policy won’t be full coverage unless you add collision and comprehensive coverage to your auto insurance policy. Collision and comprehensive coverage will increase your auto insurance rates, but the coverage level will be optimal.

Collision insurance pays for your car’s repairs if you crash into a vehicle. It also will cover you if you hit an object like a fence. Comprehensive covers all the situations that collision insurance doesn’t. It covers animal collisions, weather damages, falling objects, vandalism, and vehicle theft.

What Full Coverage Auto Insurance Doesn’t Cover

While full coverage offers a wide blanket of protection for a variety of accidents and damages, the drawbacks of full coverage auto insurance are that it doesn’t cover everything. Some of the things it won’t cover are as follows:

• Intentional acts: If a driver purposefully damages or crashes their car to get insurance money, full coverage won’t cover the cost and may file fraud charges against the driver.
• Mechanical breakdowns: Full coverage won’t cover mechanical breakdowns from normal wear and tear on a vehicle.
• Personal belongings: Full coverage won’t cover personal belongings in the car that are damaged or stolen, as this would be covered by home or renters insurance.

If you have an extended warranty on your car parts, then your mechanical breakdowns will be covered.

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Benefits of Full Coverage Auto Insurance for Veterans

Some perks may come along with a full coverage policy. Some of the benefits of full coverage auto insurance are additional protection for vehicles during deployment, as well as peace of mind for families while service members are deployed. Some insurance companies may also offer one of the following perks if you have a full coverage insurance policy with them.

• Rental Car Reimbursement Coverage: Your auto insurance provider will reimburse you for car rental fees and costs after your car is repaired.
• Roadside Assistance: Get 24/7 towing and roadside assistance with no extra charge from towing companies.
• Vanishing Deductible: Every year you’re incident-free, your auto insurance company will take $100 off your auto insurance deductible.
• Original Equipment Manufacturer (OEM Endorsement): You can request OEM parts to repair your vehicle instead of aftermarket parts whenever your car is repaired. Your auto insurance company will provide help with OEM costs whenever you get your vehicle repaired.
• Windshield Coverage: This is usually covered under comprehensive coverage and often comes with a $0 deductible. Your auto insurance provides you with a replacement windshield any time it’s damaged.

Each auto insurance company is different and may provide more or fewer perks when you get full coverage.

How much is full coverage auto insurance per month?

Full coverage auto insurance is determined by age, gender, driving record, vehicle, commute mileage, credit history, company, and location. Let’s look at the latest average full coverage auto insurance rates below.

Younger drivers will have higher auto insurance rates, as well as drivers with poor driving records. Shopping around for quotes will help you with finding cheap auto insurance for veterans.

How to Get Full Coverage Auto Insurance

When looking for full coverage auto insurance, it is important to make sure you are picking the right insurance company. If you are already with a good company, then you can simply contact them to add collision and comprehensive insurance to your policy.

If you want to find a different auto insurance company than the one you are with, make sure that you are comparison shopping for full coverage insurance rates. This will help you find the cheapest rates for your vehicle. You should also make sure you consider a company’s ratings in addition to its rates.

Knowing what to consider when choosing full coverage auto insurance companies will make sure you find the right fit. You’ll want to take a look at financial ratings, customer satisfaction ratings, mobile app ratings, and more. This will ensure that a company’s service is as good as its rates and it handles claims promptly. Once you’ve decided on an auto insurance company, you can move on to purchasing your full coverage policy.

Just make sure that you have your new policy start before your old policy ends so you don’t have a lapse in auto insurance coverage. Illegal lapses in auto insurance will raise your rates, making your full coverage auto insurance policy more expensive. If you aren’t sure you need a full coverage policy, look at the section below to see when you can skip out on full coverage.

Do I need full coverage auto insurance?

If you plan to finance your car, you’ll need full coverage auto insurance. Banks, finance companies, and other lenders need to protect their assets, so they require that you carry full coverage so they don’t face losses if you wreck or damage the leased car.

When a driver has full coverage but doesn’t carry enough on the coverage limits, the lender will put the financed vehicle under force-placed insurance, reassuring that the lender is paid if the car is in a total loss accident.

When full coverage auto insurance is not necessary is if you have an older vehicle. You may be able to do away with full coverage insurance. Sometimes a vehicle’s worth is five times less than the minimum requirements for auto insurance.

If a vehicle’s repairs are more than what the car is worth, you may want to drop collision and comprehensive coverage. Dropping full coverage will help you save on your auto insurance rates for older cars.

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The Final Word on Full Coverage Auto Insurance for Military and Veterans

Full coverage is a great insurance policy to have for the majority of drivers. It provides protection for your car in a variety of accidents so you aren’t stuck paying for repairs on your own. While you could end up paying more for full coverage because of the factors that determine auto insurance, discount auto insurance can provide cheaper costs on full coverage auto insurance policies.

Start comparing multiple companies and get full coverage auto insurance quotes by entering your ZIP code in the free online quote tool below. It will help you find your car’s cheapest full coverage auto insurance rates.

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