The cheap full coverage car insurance companies vary with the country such as USA has the STATE FARM with $145 a month, UK has the DIRECT LINE with £614, New Zealand has the State Insurance with $464 whereas Australia has the BUDGET DIRECT with $684 annual rates and as their cheapest company.
What is Full Coverage Car Insurance?
Full coverage car insurance is not an insurance policy itself, it is rather a combination of different types of car insurance coverage required by you or the state.
Generally, having this type of coverage means that you have covered all your required things according to your credit,your income and also according to the required law of the state. Full coverage is a mixture of following car insurance policies:
-
Liability Coverage: This coverage is for your liability i.e. covering of damages that are caused by you to any third party’s property or their vehicle. It also covers you in case the third person report you because of their damages. But your damage to your car is not included in this.
-
Collision Coverage: The collision coverage covers the damage done to your car even if you are at fault. The collision might be to other vehicle or any object such as hydrant, etc. But it does not cover any damage done to other person’s car.
-
Medical Payment or Personal Injury Protection: This is ultimately for the coverage of all the bodily injuries you or your family or any other passenger in your car might get in case of accident. It also covers if you are hit by another vehicle while walking sideways or riding a cycle.
-
Comprehensive Coverage: It can also be called as ‘other than collision’ coverage. It means that this coverage will cover the damages done to your other than any accident, crash or collision. This may include fire damage, theft, vandalism, hail, or an animal attack, etc. This most likely occurs when you are not driving such as a tree or a pole may fall upon the standing car.
Among these three liability coverage is required legally. However, other than that there are followin other advantages available for you:
- Gap insurance or loan/lease payoff coverage helps you at the time when you would have to pay more for the loan than your car’s worth after an accident.
- Towing and road assistance is commonly offered for flat tires or ■■■■ batteries.
- Rental cars are also allowed up to a certain limit, in case your car is not in condition to drive.
- Also glass coverage is covered automatically as it comes under the comprehensive policy.
This term ‘full coverage car insurance’ is not used in other countries except for the USA. Countries like, UK, Australia, etc use the term ‘Fully Comprehensive Coverage’ providing all the benefits and policies that full coverage is providing. This term although is different from the comprehensive coverage provided in USA.
What is Fully Comprehensive Coverage?
Fully comprehensive coverage can also be considered as the highest level of insurance you can get on your vehicle. It is the combination of following coverage:
Third Party Policy:
- It covers your passengers or family members if they get injured.
- Also covers damaged caused to other people’s property by you.
Third Party, Fire and Theft:
As the name indicates, it covers all the things covered by third part policy and in addition it also covers:
- The cost required in to repair or replace your car in case of fire or theft.
Thus, the fully comprehensive coverage covers all of these things giving you all you want for your and yourself to be safe.
Difference between Comprehensive and Fully Comprehensive Coverage
| Conditions | Comprehensive Coverage | Fully Comprehensive Coverage |
|---|---|---|
| Damaged caused by fire |  |
|
| Theft and vandalism | |
|
| Windshield damage | |
|
| Damage to other people’s property |  |
|
| Damage to other people’s car | |
|
| Damage because of animal | |
|
| Cover yourself from injuries | |
|
| Passengers in your car | |
|
| Storms, hail and earthquakes | |
|
| Falling or flying objects | |
|
| Damage to your case in case of accident/ collision | |
|
| Provide courtesy car when yours is being repaired | |
|
| Highest level of protection | |
|
Summary:
Therefore, the full coverage is not an insurance policy particularly it is the combination of having almost all of the insurance policies covering all risk factors for you and your car. Whereas Fully comprehensive coverage is also the same but it is different from the comprehensive coverage offered by almost all.
Cheap Full Coverage Car Insurance
What is cheap full coverage auto insurance? Car insurance coverage can be cheap if you want it to be cheap i.e. there are some important things or features which are totally under your control. The cost of full coverage or any other car insurance coverage depends on the following factors:
-
Age: This factor is also very important because if you are considering to add your teens name in a policy holder’s list then you might want to know that it will increase your insurance rate. Because teens have no experience of driving a car at all, therefore there will be more risk of getting into an accident whether with a vehicle or an object. As soon as age increases the rate decrease because experience grows with the age.
-
Gender: About gender, it is believed that women tend to go for more safer cars and usually are willing for short drives. Also women drives safer than men as they drive slowly and adequately whereas the men on the other side are more of a fast drivers and would like to drive bigger and expensive cars which ultimately increase their premium.
-
Make and model of your car: This factor might not have significant affect on liability coverage as in this coverage third party damage is being covered. But the size of your vehicle will affect the cost because the damaged caused to other’s property or vehicle would a lot more if you have a bigger or giant vehicle rather than a small one as the impact of large vehicle would be more.
On the other hand if the model of your is latest or you have any other expensive car then the cost require to pay for it’s repairing or replacing would, understandably, be more expensive as compare to the car which has less worth. -
Driving history: The driving record is one of the key factor for the rate of car insurance. Insurers prior to giving you your annual rate will always check your driving history. The cost will increase if you recently got a ticket for speed violation, or underwent any recent accident while if your history is clean then it would be advantageous for you during car insurance process.
-
Location: It also primarily affects the rate because the area having high crime rates or with more risk of being naturally damaged or the roads of that areas are not well maintained, can cost way more than the places having properly maintained and managed roads and with good neighborhood.
According to these factors, the rates may vary in different countries too. Here’s an analysis of some of the famous countries:
Full Coverage Car Insurance in USA
According to the 2020 analysis, by getting quotes from almost 40-50 car insurance companies, it was found that:
- State Farm has the cheapest car insurance rate for full coverage, costing $145 per month or $1,728 per year on average.
- USAA rates only $109 a month but it is solemnly restricted to the military families whether former or present. Therefore, it can be said that the USAA only offers military car insurance policy.
- Erie is also cheaper than the State Farm but it is available in only 12 states of the US.
Therefore, State Farm is the cheapest and most considered for full coverage, other than that Farm Bureau can also be the option since there is not much variation in the average rate.
| Rank | Insurance Company | Per Month Rate |
|---|---|---|
| 1 | USAA | $109 |
| 2 | Erie | $127 |
| 3 | State Farm | $145 |
| 4 | Farm Bureau | $148 |
| 5 | American Family | $170 |
| 6 | Auto Owners Insurance | $176 |
| 7 | GEICO | $188 |
| 8 | Nationwide | $191 |
| 9 | Progressive | $199 |
| 10 | MetLife | $204 |
| 11 | Travelers | $251 |
| 12 | All State | $295 |
| 13 | Farmers | $357 |
There are 50 states of United States of America, among which, following were regarded as the states having cheap rates for full coverage car insurance:
| Sr. No. | Name of the State | Full Coverage- Average Rate |
|---|---|---|
| 1 | Maine | $831 |
| 2 | Ohio | $998 |
| 3 | Idaho | $1,055 |
| 4 | Iowa | $1,122 |
| 5 | Vermont | $1,123 |
| 6 | Virginia | $1,136 |
| 7 | New Hampshire | $1,137 |
| 8 | Indiana | $1,187 |
| 9 | North Dakota | $1,211 |
| 10 | Hawaii | $1,234 |
| 11 | Tennessee | $1,281 |
| 12 | Oregon | $1,281 |
| 13 | Utah | $1,301 |
| 14 | Washington | $1,305 |
| 15 | Nebraska | $1,329 |
| 16 | Montana | $1,365 |
| 17 | Pennsylvania | $1,372 |
| 18 | New Mexico | $1,374 |
| 19 | North Carolina | $1,378 |
| 20 | Alaska | $1,388 |
| 21 | Massachusetts | $1,399 |
| 22 | Illinois | $1,400 |
| And by going through the above analysis, it is clear that rates may significantly vary with the zip code your area has. |
State Farm
State Farm offers all six types of coverage including liability, uninsured and under-insured motorist, comprehensive coverage, collision coverage and medical payment coverage. Its extra coverage ■■■ benefits include:
- Rental car and travel expenses.
- Road side assistance
- Ride sharing coverage with Uber, etc.
- Personal Injury Protection.
Full Comprehensive Car Insurance Coverage in Australia
Living in Australia and feel like you are spending a lot of your money on car insurance? You should better take a survey of different cheap car insurance companies so that you can be back on track with your finance.
| Rank | Insurance Company | Average Annual Rate |
|---|---|---|
| 1 | Bingle | $682 |
| 2 | Budget Direct | $684 |
| 3 | Virgin Money | $702 |
| 4 | RAC | $842 |
| 5 | Coles | $1,048 |
| 6 | AAMI | $1,052 |
| 7 | Real Insurance | $1.183 |
| 8 | Suncorp | $1,191 |
| 9 | Woolworth | $1,198 |
| 10 | Huddle | $1,222 |
| 11 | GIO | $1,243 |
| 12 | Youi | $1,253 |
| 13 | RACV | $1,317 |
| 14 | CGU | $1,637 |
| 15 | NRMA | $1,743 |
| 16 | QBE | $3,015 |
By comparing several different companies of Australia by taking out various types of quotes for fully comprehensive coverage, it was assumed that Budget Direct offers the cheapest annual rates . It offers affordable car insurance policies while still giving out a fully comprehensive coverage.
Although Bingle is on top of the list costing only $682 per year which is obviously a little less than Budget Direct but this company only covers the basic leaving out your personal items in your car, you are not allowed to hire a car if yours is stolen and what not you are not even allowed to choose your own repairer.
Besides discussing the companies you should also know that which state, among the whole country, offers the cheapest full coverage insurance rate so that it would be easy for you to decide in which state to live in only if you are thinking to move.
| Sr.No. | Name of the State | Average Yearly Rate |
|---|---|---|
| 1 | Western Australia | $536 |
| 2 | Queensland | $560 |
| 3 | Tasmania | $568 |
| 4 | South Australia | $583 |
| 5 | New South Whales | $724 |
| 6 | Victoria | $891 |
It is found that Melbourne is the most expensive city to live in among the whole country as it requires you to pay $30.99 for fully comprehensive coverage in a week!! and that is HUGE.! Other than that Perth might be the cheapest city of all with $14.09 to pay per week for this coverage and is the part of Western Australia state.
Budget Direct:
Budget Direct company has been declared as the ‘Insurer of the Year’ for the 4th time as it is the affordable car insurance. The full comprehensive car insurance coverage offered by this company covers the following things:
- Cost required for the repairing or replacing your vehicle in case of collision or accident or some crash, theft, vandalism, etc.
- Also boasts flood and storm damage.
- If your new car is de-valuated within the time period limit, Budget direct will replace it with a new one.
- In the case of at-fault accident to other’s vehicle or property, this provides you a $20,000,000 liability coverage to pay for the third party damage.
- Some other benefits include road-assistance, replacement of car keys, emergency costs for rental car in case your own car is not capable of being driven, personal items in the car, etc.
Full Comprehensive Coverage Motor Insurance in United Kingdom
If you are driving on the UK roads, then you are legally required to have the car insurance. The average cost for fully comprehensive car insurance, after several surveys and analysis, is found to be £473, currently. But the average are usually misleading because when the companies were analyzed individually following data was obtained:
| Rank | Insurance Provider | Average Lowest Premium |
|---|---|---|
| 1 | AA | £610 |
| 2 | Direct Line | £614 |
| 3 | LV | £667 |
| 4 | Privilege | £691 |
| 5 | QuoteMeHappy.com | £703 |
| 6 | Admiral | £831 |
| 7 | Elephant | £836 |
| 8 | Diamond | £843 |
| 9 | Sheila’s Wheel | £1006 |
| 10 | eSure | £1034 |
| 11 | More Than | £1035 |
| 12 | Churchill | £1078 |
In this case AA offers the lowest premium rates but it is not high performer as the Direct line which also offers cheaper rates. Therefore, it would be best to go for cheap and the best option.
Other than the companies you should also know about the districts giving cheapest car insurance coverage so that it would be easy for you to save your money. Following are some of the districts offering affordable annual rates of full coverage car insurance:
| Sr.No. | Districts of UK | Average Annual Rate |
|---|---|---|
| 1 | Caradon | £469.86 |
| 2 | West Devon | £471.26 |
| 3 | South Hams | £477.60 |
| 4 | East Devon | £485.53 |
| 5 | West Somerset | £489.50 |
| 6 | North Devon | £490.73 |
| 7 | North Norfolk | £493 |
| 8 | Teignbridge | £493.08 |
| 9 | Scottish Borders | £495.40 |
| 10 | Stroud | £496.07 |
| 11 | South West | £557.39 |
| 12 | Scotland | £581.24 |
| 13 | Wales | £637.34 |
| 14 | South East | £653.86 |
| 15 | North East | £673.32 |
Direct Line:
This company has been rated as 9.2 out of 10 and it is among those who believe that if you are driving less then you should also pay less there’s no such thing here that you have to pay fully. The Direct Line offers 24/7 availability and following benefits which tops it among the others:
- Discount for multi-car insurance
- Will hire you a car if your car is de-valuated or being fixed by your approved repair.
- Also get you a taxi in case you get into an accident and is unable to drive your car.
- Personal belongings
- Bodily injury and medical expenses
- Equipment for you car like radio, navigator, etc.
- No extra fees in case you want to made changes in your policy.
Full Comprehensive Coverage Car Insurance in New Zealand
As for this country, assuming the average age of 50 years following will be the cheap insurance companies offering full comprehensive coverage on affordable rates:
| Rank | Name of the Company | Average Rate |
|---|---|---|
| 1 | State | $464 |
| 2 | AMI | $507 |
| 3 | AA | $578 |
| 4 | Trade Me | $599 |
| 5 | Westpac | $603 |
| 6 | ASB | $604 |
| 7 | BNZ | $635 |
| 8 | Tower | $654 |
| 9 | Warehouse Money | $654 |
| 10 | ANZ | $912 |
State Insurance:
This insurance is the cheapest in New Zealand offering 50 dollar discount on claiming online. The most comprehensive insurance provided by it offers broad protection.Including:
- Repairs from any repairer nationwide.
- Will pay up to $300 for your key or locks replacement.
- Liability protection for damages and injuries.
- Accidental loss or damage to the car.
- Sudden death due to the accident.
Summary:
From all of the above information, it is concluded that the cheapest rate and company for full coverage is:
Australia: Budget Direct = $684 a year
USA: State Farm = $145 a month
Uk: Direct Line = £614 a year
New Zealand: State Insurance = $464 a year
Frequently Asked Questions
Following are some queries which might arise in your mind regarding this topic:
How do I get cheap full coverage insurance?
Full coverage can be very expensive at times but there are some ways by which you will be able to find a cheaper full coverage insurance:
- Try increasing your deductible from, let’s say, $500 to $1,000. It might make a little variation in the charges.
- Instead of paying monthly, go for the option of ‘pay in full’, i.e. you would be willing to pay annually rather than monthly.
- Still facing problem? Choose ’ talk to an advisor’ option and see what solution they have which you can do to get a cheaper insurance.
Is liability insurance cheaper than full coverage?
Yes it is cheaper than the full coverage. Because liability policy only covers the damage done to the third party’s property or vehicle and of course, when you are at fault. On the other hand full coverage also covers the damage done to your car whether you are at fault or not, also including the coverage offered by the liability policy.
Should you have full coverage on a 10 year old car?
There is a common math rule which all you should know, that if you have comprehensive and collision coverage (full coverage) for you car and the value or the money you are paying for it exceeds 10% or 15% of your car’s value, then it is a sign that you should give up the full coverage and only rely on the liability coverage.
Therefore, if in 10 years you get know that your car is not worth the full coverage you should dump the policy.
When should you lower your car insurance?
Lets take an example to clear this question;
If you own a car worth of $4000 and you choose a deductible of $500, then in case of any collision or accident you will get the payout of $3500 from the insurers. But, by the passing year, if you pay for both collision and comprehensive coverage up to $250 or more per year than it is time to reconsider the coverage because it is exceeding your car’s valuable limit.
Should I have a 500 or 1000 deductible?
This totally depends on how much you can pay monthly, if your credit is not so good then you should go for $1,000 deductible because then you have to pay less monthly as compared to the amount which you would be required to pay for having $500 deductible.
Conclusion
Thus, no matter which state or district you live in you should always lookout for the cheap full coverage car insurance you can get since it is the best among all. But also you should be aware about the your car’s worth, you would not want to pay more than its value. Therefore summarizing all up, following would be an ideal condition for you to live in:
- Living in USA, most probably in Maine or Ohio, 35 years old with clean driving history having a medium size good model car insured by State Farm paying average car insurance cost of 145 dollars a month for full coverage.
- Residing in Australia may be somewhere in Western Australia or why not in Perth, 30 to 35 years of age with no recent accidents or violations, having a hybrid truck with Budget Direct car insurance costing you $684 a year.
- Another situation could be in UK, a mature adult woman of 30 years of age living in Caradon district having a small car with full comprehensive coverage from Direct Line costing £614 annually.
- While in New Zealand you can have State Insurance with the annual rates of $464.