Compare Full Coverage Insurance: Rates, Discounts, & Requirements [2023]
The average full coverage insurance policy costs about $166 a month, but you can save on full coverage car insurance rates by taking advantage of discounts and comparing quotes.
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Written by
Scott W. Johnson |
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Reviewed by
Joel Ohman
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UPDATED: Feb 24, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Feb 24, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- The average full coverage policy costs about $166, though you might pay more or less depending on your unique circumstances
- Full coverage is not required in any state, but people with car loans or leases will probably need it
- Although full coverage is more expensive than minimum insurance, you can save by finding discounts and comparing quotes
When you’re shopping for car insurance, the most common options you’ll see is full coverage and minimum car insurance. However, full coverage isn’t a type of insurance; instead, it’s a package of products meant to cover your car fully.
Full coverage costs more than minimum insurance, but it protects your car much better. While it’s never required by state law, drivers usually need full coverage to lease a car. It’s also good for people with new, expensive cars or living in high-risk areas.
Read on to learn more about full coverage car insurance and if it’s right for you. Then, compare rates with as many companies as possible to find the most affordable option.
How much does full coverage insurance cost?
The national average for full coverage is about $166 a month, which is about $100 more than what minimum insurance costs. However, your rates can vary significantly between companies due to your unique situation.
To get an idea of how much full coverage costs, consider the average rates for some of the top car insurance companies in the U.S. below.
Average Monthly Minimum and Full Coverage Car Insurance Rates for Four Top Companies
Insurance Company Minimum Liability Coverage Rates Full Coverage Rates
State Farm $59 $145
Geico $68 $180
Progressive $77 $199
Allstate $116 $295
As you can see, Geico, State Farm, and Progressive offer some of the lowest rates for full coverage car insurance. You should always compare rates, though, since some factors can change which company is your cheapest option. For example, drivers with low credit scores might find a cheaper quote at Nationwide.
Liability vs. Full Coverage Costs
Although it offers valuable protection, full coverage costs more than the minimum car insurance required in each state. Check below to see how much more full coverage costs than minimum insurance in your state.
State Allstate Geico Nationwide Progressive State Farm Average
AK $1,667 $1,195 $807 $1,223
AL $1,332 $1,099 $1,189 $1,388 $1,337 $1,370
AR $2,007 $1,120 $1,581 $1,620 $989 $1,416
AZ $2,226 $808 $1,436 $1,039 $999 $1,352
CA $1,996 $1,553 $1,774
CO $2,054 $1,161 $1,324 $1,490 $1,168 $1,475
CT $2,421 $768 $1,382 $1,641 $1,126 $1,550
DC $2,976 $855 $2,126 $1,420 $1,371 $1,750
DE $2,555 $1,243 $1,777 $1,115 $1,431 $2,180
FL $2,263 $1,103 $1,272 $1,889 $1,223 $1,624
GA $2,035 $754 $1,878 $1,417 $1,324 $1,778
HI $1,113
IA $1,006 $900 $930 $804 $1,049
ID $1,587 $708 $1,018 $653 $992
IL $2,172 $587 $1,146 $1,103 $796 $1,153
IN $1,729 $785 $1,198 $849 $872 $1,207
KS $1,973 $923 $1,141 $1,575 $1,003 $1,447
KY $988 $2,277 $1,377 $1,212 $1,610
LA $2,547 $1,739 $1,990 $1,537 $1,953
MA $1,342
MD $2,481 $1,671 $1,313 $1,493 $1,322 $1,656
ME $1,334 $454 $1,166 $724 $1,053
MI $5,017 $1,219 $3,184 $1,880 $2,585 $3,193
MN $1,977 $1,118 $1,070 $828 $1,732
MO $1,831 $1,112 $816 $1,212 $1,051 $1,326
MS $1,822 $886 $1,190 $1,487 $1,018 $1,282
MT $1,903 $1,020 $1,093 $2,109 $870 $1,392
NC $2,095 $851 $1,367 $393 $949 $1,129
ND $1,679 $749 $949 $1,364 $943 $1,715
NE $1,545 $1,139 $952 $1,175 $850 $1,358
NH $1,585 $624 $953 $785 $729 $1,188
NJ $1,948 $917 $1,154 $1,403 $1,915
NM $1,958 $1,119 $1,186 $1,069 $855 $1,300
NV $2,046 $1,361 $1,386 $1,018 $1,272 $1,470
NY $1,820 $963 $2,026 $1,188 $1,695 $1,761
OH $1,483 $728 $1,408 $1,051 $863 $1,065
OK $1,668 $1,350 $1,362 $1,122 $1,577
OR $1,896 $1,155 $1,372 $959 $926 $1,326
PA $1,829 $843 $1,066 $1,834 $938 $1,449
RI $2,333 $1,547 $2,351 $1,438 $939 $1,827
SC $1,650 $979 $1,459 $1,294 $1,089 $1,422
SD $1,682 $706 $943 $1,298 $827 $1,446
TN $1,777 $970 $1,464 $1,141 $895 $1,200
TX $2,488 $1,303 $1,908 $1,493 $1,109 $1,745
UT $1,442 $906 $1,154 $1,174 $1,269 $1,266
VA $1,277 $859 $1,061 $754 $785 $947
VT $1,759 $469 $954 $2,233 $1,079 $1,289
WA $1,415 $922 $866 $746 $858 $1,042
WI $1,521 $766 $2,797 $1,158 $721 $1,265
WV $2,000 $1,030 $1,288 $1,362 $979 $1,513
WY $1,918 $1,369 $1,017 $1,366
You might notice that some states have much lower rates than others. This difference in rates is caused by a variety of factors, including insurance requirements, weather risks, crime rates, and traffic. For example, Michigan has some of the highest insurance rates because it requires more coverage. Learn more about Michigan car insurance.
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What does full coverage car insurance cover?
Full coverage auto insurance is a suite of products that offers relatively complete protection for your car. Although it doesn’t cover everything, full coverage protects your vehicle from the most common sources of damage. Full coverage consists of five types of vehicle insurance, which include the following:
Liability Insurance
Liability auto insurance covers damage you cause to property and injuries to other drivers, passengers, and pedestrians. Most states require liability insurance, but it doesn’t cover your car.
Collision Insurance
You need collision insurance if you want help paying for your vehicle after an accident. Collision insurance covers your car, no matter who is at fault for the accident. It also covers you if you hit a stationary object, like a tree.
Comprehensive Insurance
There’s a lot more that can damage your vehicle than accidents. Comprehensive car insurance covers damage from fire, weather, theft, vandalism, and animal contact.
Uninsured/Underinsured Motorist Coverage
Although most states require coverage, not all drivers follow the law. Uninsured motorist coverage covers both medical bills and damage to your car when someone without insurance hits you.
Medical Payments/Personal Injury Protection (PIP)
Bills after a car accident can get expensive, but medical payments and personal injury protection insurance can help. The type of medical expense insurance you can buy depends on your state.
As you can see, full coverage insurance for your car protects against most of what the road can throw at it. However, it doesn’t cover everything. You might need to buy add-ons for additional coverage.
What does full coverage insurance not cover?
Although full coverage is fairly exhaustive, it doesn’t cover everything. You’ll need an alternative option if you want coverage for the following:
Roadside Assistance
Full coverage does not include emergency roadside assistance when you’re stranded on the side of the road. However, most companies offer roadside assistance as an add-on for your policy.
Rental Cars
You’ll need to buy rental car reimbursement if you want your policy to pay for a temporary vehicle when yours is stuck in the mechanics.
Custom Parts and Equipment
Full coverage insurance protects the standard parts of your car. If you modify your car with special equipment, you’ll need custom parts and equipment insurance to cover them.
Loan Coverage
When your car is totaled, your insurance company will pay for its value minus depreciation. GAP insurance pays the remainder if you owe more on your car loan than your vehicle is worth.
Most major insurance companies offer these add-ons, as well as several other options, to help you maximize the value of your policy. Not everyone needs full coverage, though. Many drivers can get by with their state’s minimum insurance requirements.
Full Coverage vs. State Minimum Requirements
According to the Insurance Information Institute (III), except for Virginia and New Hampshire, all states require drivers to carry a minimum amount of insurance before driving or registering their cars. If you live in a state requiring car insurance, you’ll face steep consequences if you’re caught driving without insurance.
Most states require drivers to carry liability insurance to pay for the damage they cause in an accident. Uninsured motorist and personal injury protection are also often required, though less commonly than liability coverage.
As previously noted, no state requires full coverage insurance but getting it’s not a bad idea if it fits your budget. However, if you only want minimum coverage, an insurance representative will know exactly what you need.
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Who needs full coverage car insurance?
Although it’s not required by state law, there are plenty of reasons why you might need full coverage insurance. You should consider full coverage insurance if any of the following applies to you:
- You live in an area with high car theft or vandalism rates
- You live in a rural area where animal collision is likely
- Your daily commute involves heavy traffic
- Your home is in an area with extreme weather risks
- You have a new or expensive car
- You have a loan or lease on your vehicle
- You can’t afford to replace your car if it’s totaled or stolen
Full coverage might not be worth the cost if you own an older car outright. Insurance companies only pay for your car’s actual cash value, so your deductible and monthly payments might cost more than your policy would pay if your vehicle has a low value.
How can you save money on full coverage insurance?
If you want full coverage car insurance but need to stay on a budget, there are plenty of ways to save. Try the following tips if you’re looking to save money on your full coverage insurance:
Raise Your Deductible
Your car insurance deductible is the portion you pay for before your insurance kicks in. Most companies let you choose a higher deductible to lower your monthly rates, but remember that you’ll be financially responsible for a bigger bill after an accident.
Choose the Right Coverage
You can select lower limits on your policy to keep your monthly rates down. Additionally, you should make sure to limit how many add-ons you buy.
Look for Discounts
Insurance companies offer car insurance discounts to help customers save. Most discounts are applied when you first sign up for a policy, but an insurance representative can check that you’re getting everything you should.
Keep Your Driving Record Clean
One of the easiest ways to keep your rates low is to keep your driving record clean. Car insurance with a bad driving record can be much higher.
Compare Quotes
Comparing car insurance quotes is the most important of everything that can help you save money. If you sign up for the first policy you look at, you’ll likely overpay.
Your insurance rates are based on various factors, and companies put a different emphasis on each. For example, drivers with low credit scores can pay up to 60% more for insurance, while people with higher scores see lower rates. Some companies are more forgiving of low credit scores, which is why comparing quotes is important.
Find the Best Full Coverage Today
Although it’s not required by state law, full coverage offers valuable protection for your car. Full coverage costs more than the minimum insurance requirement in your state, but the cost might be worth it if your car is new or expensive.
Before you sign up for a car insurance policy, you should compare rates with as many companies as possible. Looking at several companies is the only way to find the most affordable rates.
Frequently Asked Questions
What is full coverage insurance?
Full coverage refers to a suite of insurance products that offer relatively complete protection for your car. When you buy full coverage, you’re purchasing liability, comprehensive, collision, uninsured/underinsured motorist, and either personal injury protection or medical payments insurance.
What doesn’t full coverage cover?
While every policy differs, most full coverage insurance doesn’t cover roadside assistance, custom parts and equipment, rental cars, or GAP insurance. However, most companies offer add-ons if you want more coverage.
Do you need full coverage on a financed car?
Most lenders require drivers to carry full coverage until they repay their loan. Once you own your car outright, you’ll be free to lower your coverage to the state minimum requirements.
Does full coverage insurance cover other drivers?
Car insurance follows the car, not the driver, so a friend or relative will be covered when you occasionally lend out your vehicle. However, your insurance only covers occasional borrowers. You’ll need to add drivers to your policy if they frequently use your vehicle.
Is full coverage worth it?
Generally speaking, full coverage is worth the cost if you have a newer or more expensive vehicle that you can’t afford to replace. It’s also worth considering if you live in an area with extreme weather, high crime rates, or a significant risk of animal collisions. Full coverage might not be worth it if your car is older and you own it outright.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
|
Written by
Scott W. Johnson |
|
Reviewed by
Joel Ohman
|