Choosing the best type of insurance for your car can be a very difficult decision to make. Since insurance doesn’t come cheap, you certainly want to go with the cheapest auto insurance. However, if you are planning to purchase an expensive car like the upcoming 2018 Lexus LS, going with the cheap state minimum car insurance might not be the best option.
If you want to give the best protection for your car as well as yourself when you are driving, full coverage auto insurance is the answer for you. Yes, it is certainly not the cheapest, but considering the protection it offers, this insurance definitely will be worth it.
How Much Does Full Coverage Auto Insurance Cost?
You know that full coverage insurance doesn’t come cheap. But the question is how much does full coverage auto insurance cost?
Well, there is no fixed answer for this question because the cost will depend on certain conditions. However, based on the data from Insurance Information Institute, full coverage policy in USA is averagely $70 per month. You can simply call the auto insurance company in your area to know more about cheap full coverage auto insurance quotes for your needs.
What Determines the Cost of Auto Insurance?
These are some factors that will determine how much money you need to pay for a full coverage policy.
1. Car Price
The insurance cost for an old car model definitely will be much cheaper compared to luxury new model like the upcoming 2018 Toyota Camry. The highest the price of your car is, the biggest the risk you need to carry, hence the more expensive the insurance cost is.
Where you live also plays a huge role in determining the monthly cost you need to pay. You need to check the car insurance by states because one area will differ with another. To help you find out what is the average annual car insurance cost in your area, you can check this list of the most and least expensive states for car insurance.
Most Expensive States
– Louisiana : $2,356
– Oklahoma : $2,047
– Michigan : $2.013
– West Virginia : $2.002
– Washington DC : $1,886
Least Expensive States
– Maine : $889
– Iowa : $985
– Wisconsin : $987
– Idaho : $1,011
– North Carolina : $1,022
The Best Auto Insurance Company
If you are looking for the cheapest full coverage auto insurance, Erie is the answer. It is only available in eleven states but it has reliable service as well as convenient online quote service.
Driving experience is one of the most important factors that will determine the cost of a car insurance policy. Nationwide car insurance provides plenty of policy choices for this aspect so it is a good option for those looking for cheap insurance for young and inexperienced driver.’
3. State Farm
It is one of the biggest auto insurance companies in the USA and it has more than 18,000 agents nationwide. This company often offers discounts and other great deals for their full coverage auto insurance policy package.
Benefits of Full Coverage Auto Insurance
If you are an owner of a luxury car like Audi Q5, you definitely don’t want to go easy on the insurance. If you want to get the best protection for your car, it is best to just go with full coverage car insurance.
The biggest benefit you will get from this insurance is your car will be fully protected from theft, collision and other kind of damage that might happen to your car. Full coverage insurance covers collision and comprehensive which means you also will be protected by the insurance just in case you are involved in the accident.
You might hesitate to purchase this type of insurance due to the high cost you have to pay. But imagine what’s going to happen if you are driving something fancy like the new Volvo V90 and the car is stolen. Would you be able to purchase the same car? Full coverage auto insurance is indeed expensive, but it is much cheaper than the price of your car. In case of car theft, this insurance will replace so it is actually a nice option for your finance.
But in the end of the day, full coverage car insurance is not for everyone. Everything will depend on what you need and what the states you are currently living in require you to have. For example, bodily injury liability is not a requirement for car insurance in Florida. So, if you want to save some cost and you don’t think you are going to need it, you can scratch that option. But if money is not an issue and you want full protection for you and your car, there is nothing that can beat full coverage insurance policy.