Cost of Full Coverage Auto Insurance

The cost of full coverage auto insurance can vary depending on a number of factors, including your location, your driving record, your vehicle, and the coverage options you choose.

Full coverage auto insurance typically includes liability coverage, collision coverage, and comprehensive coverage, as well as optional coverage such as uninsured/underinsured motorist coverage and medical payments coverage.

In this blog post, we’ll take a look at the cost of full coverage auto insurance and how to find the right policy for your needs at an affordable price.

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How much is full coverage insurance?

The most recent figures from Insurance.com show that the average cost of full coverage auto insurance is $1,682 annually, or roughly $140 monthly.

According to coverage of 100/300/100, which equals $100,000 per person, $300,000 per incident, and $100,000 per incident for property damage, that is the case. State-mandated liability insurance typically costs $526 a year.

Your age, driving history, credit history, location, and the type of car you drive are all taken into account when determining your car insurance rates.

Additionally, rates differ from business to business by hundreds or even thousands of dollars. Because of this, we always advise that you compare prices as your first step toward saving money.

The average annual cost of the following coverage tiers is compared by state below:

minimum responsibility required by the state.
Full protection with a deductible of $500 for collision and comprehensive insurance and liability limits of $100,000 per person, $300,000 per accident, and $100,000 for property damage.

Also Read: How To Qualify For Auto Insurance Discounts

Factors That Could Impact The Price Your Full Coverage Auto Insurance

Location

One of the biggest factors that can affect the cost of full coverage auto insurance is your location. Insurance rates can vary depending on where you live, as some areas have higher rates of accidents, theft, or natural disasters. For example, urban areas with high traffic congestion may have higher insurance rates than rural areas with low traffic.

Here are a few tips for finding affordable full coverage auto insurance in your location:

Research average rates: The National Association of Insurance Commissioners (NAIC) provides average auto insurance rates by state. You can use this information to get an idea of the typical cost of full coverage auto insurance in your area.
Compare quotes from multiple insurers: Insurance rates can vary depending on the insurer, so it’s important to compare quotes from multiple insurers to find the best deal. Be sure to compare quotes for the same coverage options to make an apples-to-apples comparison.
Ask about discounts: Many insurers offer discounts for things like good driving habits, safety features on your vehicle, or certain occupations or education levels. Ask your insurer about any discounts that may be available to you to help save money on your full coverage auto insurance.

Driving Record

Another factor that can affect the cost of full coverage auto insurance is your driving record. Insurance companies typically use your driving record as a factor in determining your insurance rate, so a clean driving record can help you get a lower rate. On the other hand, a poor driving record with accidents or traffic violations can result in a higher insurance rate.

Here are a few tips for improving your driving record and getting a lower insurance rate:

Obey traffic laws: The best way to avoid accidents and traffic violations is to follow the rules of the road. This includes following the speed limit, using turn signals, and yielding to other drivers.
Avoid distracted driving: Distracted driving is a leading cause of accidents and traffic violations. Avoid using your phone, eating, or engaging in other activities that can take your attention away from the road.
Take a safe driving course: Many insurance companies offer discounts for drivers who complete a safe driving course. These courses can teach you valuable skills and techniques to help you avoid accidents and traffic violations.

Vehicle

The type of vehicle you drive can also affect the cost of full coverage auto insurance. Insurance rates can vary depending on the make, model, and year of your vehicle, as well as its safety ratings and the likelihood of theft. For example, a newer, more expensive vehicle may have a higher insurance rate than an older, less valuable vehicle.

Here are a few tips for choosing a vehicle that can help you get a lower insurance rate:

Research safety ratings: The National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) both provide ratings for vehicles based on their safety features and performance. Choose a vehicle with high safety ratings to help lower your insurance rate.

Consider the likelihood of theft: Some vehicles are more likely to be stolen than others, and insurance rates can vary depending on the likelihood of theft. Research the theft rates for the vehicles you’re considering to help determine which ones may have a lower insurance rate.
Ask your insurer about discounts: When shopping for a vehicle, be sure to ask your insurer about any discounts that may be available for the make, model, and year of the vehicle. Your insurer may be able to provide additional information and guidance on how to get a lower insurance rate.

Coverage Options

The coverage options you choose for your full coverage auto insurance policy can also affect the cost of your premiums. For example, adding comprehensive coverage or uninsured/underinsured motorist coverage can increase the cost of your premiums, but it can also provide additional protection in case of certain events.

Here are a few tips for choosing the right coverage options for your full coverage auto insurance policy:

Consider your budget: Before choosing your coverage options, consider your budget and how much you can afford to pay in premiums. This will help you determine how much coverage you need and which options are right for you.
Research your options: Insurance policies can have a wide range of coverage options, so it’s important to research your options and understand what they cover. Be sure to read your policy carefully and ask your insurer any questions you may have.
Choose the right amount of coverage: The right amount of coverage for you will depend on your personal situation, your vehicle, and your state’s insurance requirements. Choose the amount of coverage that will provide the protection you need without breaking your budget.

In conclusion

the cost of full coverage auto insurance can vary depending on your location, your driving record, your vehicle, and the coverage options you choose.

To find the right policy for your needs at an affordable price, be sure to research your options and compare quotes from multiple insurers. Ask about discounts and consider your budget to find the right policy at the best possible price.