how much qualifies as full coverage insurance?

Question

ive got to get full coverage insurance on my moms explorer. im going to be getting a new car tomorrow, and for me to be able to take it off the lot, i have to have full coverage. the insurance companies are closed tomorrow, because its saturday. so that means that i have to get full coverage on my moms so i can just roll it over.

Answer 1

There is no such thing as full coverage. You are "fully covered"
if you carry the appropriate amount of insurance for your needs.

For example, people think when they buy comp/collision & liability insurance, they can get a rental car paid for by their insurance company.....WRONG. Rental coverage is separate from comp/collision and if you didn't buy it, you don't get the benefits.

Also, if you carry state minimum auto liability limits, chances are you aren't covered if you're at fault for an accident. If you have $10K property damage limits and you cause damage to a house, and 2 parked cars....chances are the damage will exceed the $10K limit. At minimum I recommend $100K property damage liability limits.

If you can tell us specifically what your question applies towards, auto, home, life...we may be able to better answer your question.

Answer 2

You could take a room full of people and "full coverage" means something different to each of them.

Typically, it means liability coverage, plus collision coverage, plus comprehensive coverage. You CAN call the insurance company today, tell them you're getting a new car, and ask them to BIND coverage, pending the VIN number. I've done that for customers before. The thing is . . . if the old car is YOUR MOM'S car, then it's on her policy . . .and if YOU are getting the new car, you won't be able to roll HER car coverage onto YOUR car, you'll need a new policy in your name.

The good news is, most auto dealers have an insurance agent sitting right there, for JUST that purpose - usually a Progressive agent - because they run into this ALL the time.

The bad news is, if you're LEASING the car, instead of buying it, you might have to increase your liability limit over what she has . . .

So you'll probably have to either buy your insurance for this car at the dealer tomorrow, or not pick up the car until Monday after you've gotten the insurance straightened out at your agent's office.