what is full coverage insurance?

Answer 1

The term "Full Coverage" is very misunderstood. Full coverage is a term used by finance organizations to describe the coverage needed to insure the balance of a loan on an auto. The correct definition is comprehensive and collision coverage. Full means that whatever happens to the car, it will be covered up to the value of the car at the time of the loss minus the deductible. But it does not cover any of the passengers in the car, towing/rental, or uninsured motorist protection

Answer 2

There is NO such thing as full coverage insurance. So many people have different opinions on what FULL coverage is that there is really no right answer. The term can mean liability, collision, comprehensive(hail, vandalism, theft), rental, med pay, personal injury protection, uninsured motorist coverage and then....there are so many different types of endorsements that can be added on, no one really ever purchases full coverage (for they would have to buy all of this above and then all of the endorsements that the company(depending on the company...has to offer)

The best way to compare coverages is to list each coverage out and compare them one by one.

Answer 3

"Full coverage" is a term agents use with customers, usually when they are buying both Liability and Physical damage coverages and tons of other coverages designated by various state laws.

There are so many types of coverage, most agents don't want to confuse people, but a customer should read their policy and be familiar with the coverages they have.

If you have an accident, the first thing a claims person will do is check the policy and if you don't have the right coverage, it doesn't matter that someone told you you have "Full Coverage."

Answer 4

What does “full coverage” mean?

The term full coverage generally means that the insurance policy has both liability coverage and coverage for damage to your vehicle. The term full coverage does not mean that everything is covered no matter what happens.

Your auto insurance policy declaration page lists the coverages you have selected.

Answer 5

Comprehensive- covers flood, theft, malicious mischief, vandalism, other than collision, glass breakage

Collision- pays for damage to your car caused by collision with another car or object


Without these coverages, you have no coverage for your car whatsoever. ( Unless you have Uninsured motorist coverage, you will be covered if someone without insurance hits you) The liability portion of the policy pays out the bodily injury and property damage limits listed on your policy to the other party.

Answer 6

Full coverage insurance give you collision and liability coverage. This covers you if you cause an accident and also allows your car to be repaired. If you don't have full coverage the other persons car is repaired or paid off and yours isn't.

Answer 7

It means that your property is fully covered and protected against any type of damage or loss. For instance, when you buy a NEW car, you have to have full coverage so that if there is an accident the lienholder can recover the full amount of the loss.

Answer 8

That is just nonsense. It should always be exactly stipulated what is covered and what is not.

This is usually a whole pack of paper. Do not sign immediately - take the papers home and read them.

If you did sign immediately - then the contract is invalid. You can cancel it untill after 8 days you signed.

This is called - de colportragewet. Inquire at the ministry of justice.

Answer 9

Full coverage means that including collision,property damage, uninsured, underinsured, medical coverageI

Answer 10

Instead of just the damage you caused also damage to your vehicle is covered.

If your car is only worth a pack of chewing gum you don't get that one.

(other stuff may be in there like legal aid but that depends on the company)