Full coverage auto insurance is a combination of coverages, usually state minimums and both collision coverage and full coverage, to help protect your finances in the event of a car accident, theft, vandalism or other incident. The average cost of full coverage auto insurance in the United States is $ 1,674 per year. However, your premium will vary depending on your location, driving history, and other factors.
Bankrate’s insurance editorial team analyzed the best providers to find the best choices for individual circumstances. Below we outline why Allstate, Erie, Farmers, Nationwide, and State Farm made our list.
Best Full Coverage Auto Insurance
We have found that the best full coverage auto insurance providers are Allstate, Erie, Farmers, Nationwide, and State Farm. Bankrate’s insurance editorial team determined these rankings by referring to the latest premium data from Quadrant Information Services. We also took into account JD Power’s most recent customer satisfaction data and referenced corporate coverage options, special features, such as 24/7 customer service lines, and available discounts.
|Auto insurance company||JD Power Customer Satisfaction Score||Average annual premium for full coverage|
|Erie Insurance||880/1000||$ 1,233|
|At national scale||876/1000||$ 1,485|
|State farm||881/1000||$ 1,457|
Allstate policies can cost more on average, but the carrier offers plenty of discounts and potential benefits for auto insurance. The company offers a new car replacement, which could pay for the cost of replacing your car after a covered accident, as well as an accident discount, which could keep your premiums at the same rate. If you don’t like the way your claims process is handled, Allstate offers a claim satisfaction guarantee which could reimburse part of your premiums.
Learn more: Allstate Insurance Review
Erie has a high customer satisfaction rating from JD Power and offers comprehensive, reliable insurance at a low average rate. Locking in Erie rates could ensure that your insurance premium stays the same and the company is also offering a first-accident remission to eligible policyholders who have been insured with Erie for at least three years. The main strike against Erie is that he operates in limited states. Remember to check your state availability before delving too deep into this carrier’s auto insurance offers.
Learn more: Erie Insurance Review
Farmers have the highest average annual premium cost on our list. Therefore, if you are looking for the cheapest auto insurance rate available, you may want to consider other options. However, this auto insurance company offers a wide range of potential discounts such as paperless billing, safe driver, good student, and owner. Farmers are even offering discounts for alternative fuel vehicles in California. The provider has a number of coverage options to choose from, such as replacement of a new car and accident remission.
Learn more: Farmer Insurance Review
At national scale
Nationwide includes all the usual options that come with full coverage and some useful offers like towing and labor coverage and gap coverage. If you’re looking to lower your insurance rates, Nationwide also offers high-tech discounts like the SmartRide program, which uses telematics to track your driving, and SmartMiles, which reduces premiums if you don’t drive a lot. Nationwide offers many different types of insurance, so this carrier is also ideal for bundling insurance policies. One potential downside is that Nationwide does not have a 24/7 customer service line like some of its competitors.
Learn more: National Insurance Review
State Farm is a big name in the insurance world because of its size and options. This insurer’s policy add-ons, such as rental car insurance, are useful for people on the go. For policyholders under the age of 25, State Farm offers a Steer Clear rebate program that can lower monthly premiums for taking a driving course, which can help offset the often higher cost of insurance for young drivers. . The State Farm mobile app allows you to submit claims, get new quotes, and view your insurance profile. The company also offers a 24/7 helpline. State Farm does not offer gap insurance, which can be seen as a downside, but the company does offer a similar feature called Protector of earnings.
Learn more: State agricultural insurance review
What is full coverage auto insurance?
Full coverage auto insurance refers to a common set of coverage options that are included in a single policy. Generally speaking, all drivers (except those in New Hampshire and Virginia) must have some form of liability or state-required coverage, which can cover medical bills and car repairs for other drivers. Comprehensive coverage, although not generally required by law, can cover medical bills, car repairs, and other expenses for the policyholder and their passengers.
Full coverage policies will generally include collision coverage and full coverage in the policy. Collision coverage pays for damage to your car in a moving accident, and Comprehensive coverage pays for damage to your car in other events, such as theft, vandalism, and natural disasters.
While full coverage can cover damage to your car, you will usually need to pay a deductible before coverage applies to pay the rest. Additionally, all coverages in a policy always have a coverage limit, which is the maximum amount that the policy will cover. Many insurers allow you to increase coverage limits for an additional fee.
Most personal auto insurance policies do not cover business use, so if you are using your car for a delivery business or rideshare service, you may need to purchase additional coverage.
Is Full Coverage Auto Insurance Worth It?
When deciding whether the added cost of full coverage auto insurance is worth it, it often helps to think about what would happen if your car was damaged or destroyed. Could you pay for repairs or replacement out of pocket? If your car is older and less valuable, some people may decide that comprehensive coverage is not worth it for their needs. However, if you have used an auto loan to purchase your car, full coverage may be required in the contract with the lender.
Frequently Asked Questions
What is the best auto insurance company?
The best auto insurer depends on the insurance needs of the individual. To find the auto insurance company that is right for you, it helps to shop around and ask for quotes from a few providers so you can compare. The easiest way to get an insurance quote from an insurer is usually to use the online quote tool offered by most companies. You can also usually call for an insurance quote, which can help you find the lowest auto insurance rate. You may want to discuss your coverage needs and preferences with an independent insurance agent who can help you understand your coverage needs.
Does my liability coverage pay for repairs to my car?
Liability coverage under your policy will not cover damage to your car. This coverage will only cover damage to other people and their vehicles, so you will need full coverage if you want repairs to your car to be covered under your policy.
What is the difference between collision coverage and comprehensive coverage?
Collision coverage covers damage to your car in a moving accident. Comprehensive coverage covers damage to your car during other events, such as theft, falling limbs, or fire. Both of these coverages are included in most full coverage policies.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:
- $ 100,000 liability for bodily injury per person
- $ 300,000 liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 in bodily injury caused by an uninsured motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used a minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.
These are sample rates and should be used for comparison purposes only.