You are shopping for car insurance and faced with the choice of whether or not you want full coverage. Passing on the offer looks attractive until you understand what you might be responsible for if you were involved in an accident without adequate protection.
Before we get too far along, it might interest you to know that “Full Coverage” auto insurance doesn’t exist – it never has. It’s simply a term that is commonly used in the insurance industry to describe broader coverage for many different perils, reducing your risk of financial loss both on and off the road. Continue reading at staufferklug.com to learn the 5 Reasons You really do need full coverage car insurance.
1. You Cannot Afford to Replace Your Vehicle If It Is Totaled in an Accident.
The numbers are enough to give you sticker shock: Body work on a vehicle after an accident often totals $3,100 or more for a mere dent. If your car is damaged beyond repair, replacing it with a new model could easily cost $33,000 or more. When faced with these kinds of bills after an accident, paying a $250 deductible for a collision or comprehensive claim against your insurance policy looks a lot more attractive.
2. Your Lender Requires It.
A car is a major purchase. If you did not have the cash to buy it outright, you probably took out a loan to cover the costs. Since the car serves as security for your debt, chances are your lender wants it fully insured until your loan is paid in full. That means purchasing coverage that pays for repairs or replacement of your vehicle if you are involved in a collision or your vehicle is damaged by some other covered event, such as a fire. If you drop the required coverage, your lender may have the right to repossess your vehicle – even if you have made timely payments.
3. You Need Guaranteed Transportation.
Do you have a job outside of your home? Do you attend school or transport your own children to and from school each day? If you lead a busy life, you cannot afford to be without transportation. Without full coverage, you are responsible for repairing or replacing your own vehicle after a collision. Opting not to do so is your choice – but it could lead to other consequences – especially if you are not prepared to pay for public transit or some other form of transportation.
4. Some Things Are out of Your Control.
If you consider yourself a safe driver, you probably think your odds of needing to file a claim are slim. It is important to recognize that accidents happen every day – even to safe drivers. Most drivers will file a collision claim against their insurance an average of once every 17 years. Not to mention, damages do not always happen on the road. In fact, your car could suffer severe damages sitting in a parking lot or parked in your garage. From fires and natural disasters to theft and vandalism, a full coverage policy has everything you need to minimize your financial risk.
5. You Want the ‘extras’.
Full coverage auto insurance generally includes liability, collision, and comprehensive insurance. Though wide-ranging, you may still be vulnerable to losses after an accident, such as car rental fees and towing charges. Insurers can add towing, rental car reimbursement, and emergency assistance coverage to your policy, but you may not be able to purchase it without purchasing full coverage.
Full Coverage Can Be Affordable
At Stauffer-Klug Insurance, we believe Jefferson area residents should have access to adequate coverage auto insurance at a reasonable price. Adding more protection to your policy should not mean spending an arm and a leg. That is why we shop and compare rates from multiple insurers to find the policy and discounts that are right for you. To find out how much we can help you save on full coverage auto insurance, contact our office today. We look forward to serving you soon.