Full coverage car insurance rates by state
No insurance policy can cover you and your car in every circumstance. But a ‘full coverage’ policy covers you in most of them.
Insurance is meant to protect you from being sued, or left financially stranded by a totaled car, or ruined by an uninsured driver. That doesn’t mean an accident won’t leave you with expenses and hassles you wouldn’t face otherwise.
Full coverage is shorthand for policies that cover not only your liability but damage to your car as well. Here’s how to weigh liability vs. full coverage.
What is full coverage?
To most drivers, “full coverage” means you have bought not only liability insurance – which is mandatory virtually everywhere and pays for the damage you inflict on other people and property – but comprehensive and collision, too.
Ideally, full coverage means you have insurance in the types and amounts that are appropriate for your income, assets and risk profile. The point of all types of car insurance is to keep you from being financially ruined by an accident or incident.
Of course, you can buy a policy with every conceivable option:
- The highest available liability limits (usually $250,000 per person bodily injury, $500,000 per accident, $100,000 property damage)
- The lowest possible deductible on collision and comprehensive coverage. At some companies, it’s $0, but $100 and $250 are common.
- Uninsured motorist coverage
- Uninsured/underinsured motorist bodily injury coverage with limits matching your liability coverage
- Uninsured motorist property damage (not available in all states)
- All available medical coverages in the highest amounts possible (personal injury protection in no-fault states and medical payments coverage in most others)
- Rental reimbursement coverage
- Towing and labor
- Preferred-customer add-ons such as new car replacement programs or vanishing deductibles
In reality, there is no policy that will cover you and your car in every situation, just most of them.
What does full coverage insurance cover
A typical full coverage policy (liability, comprehensive and collision, uninsured motorist and medical coverage) should cover:
- The damage you do to others, up to your liability limits.
- Your car, up to its fair market value, minus your deductible, if you are at fault or the other driver does not have insurance or if it is destroyed by a natural disaster or stolen.
- Your injuries and those of your passengers, if you are at fault, up to the amount of your medical coverage.
- Your injuries and yours of your passengers, if you are hit by an uninsured motorist, up to the limits of your uninsured motorist policy.
Typical full coverage insurance won’t pay for:
- Racing or other speed contests
- Off-road use
- Use in a car-sharing program
- Catastrophes such as war or nuclear contamination
- Destruction or confiscation by government or civil authorities
- Using your vehicle for livery or delivery purposes; business use
- Intentional damage
Typical comprehensive and collision policies won’t cover:
- Wear and tear
- Mechanical breakdown (often an optional coverage)
- Tire damage
- Items stolen from the car (those may be covered by your homeowners or renters policy, if you have one)
- A rental car while your own is being repaired (an optional coverage)
- Electronics that aren’t permanently attached
- Custom parts and equipment (some small amount may be specified in the policy, but you can usually add a rider for higher amounts)
Do I need full coverage?
You are required to have liability insurance or some other proof of financial responsibility in every state. Coverage comes in varying levels, from the mandatory minimum to as much as $500,000. You as a car owner are on the hook personally for any injury or property damage beyond the limits you selected. Your insurance company won’t pay more than your limit.
But liability coverage won’t pay to repair or replace your car. If you owe money on your vehicle, your lender will require that you buy collision and comprehensive coverage to protect its investment. After you pay off the loan, the choice to buy comp and collision is yours alone.
We have our own rules of thumb on insuring any car:
- When the car is new and financed, you have to have full coverage. Keep your deductible manageable.
- When the car is paid off, raise your deductible to match your available savings.
- When you reach a point financially where you can replace your car without the assistance of insurance, seriously consider dropping comprehensive and collision.
Use Insurance.com’s online car insurance calculator to get our recommendation of what car insurance coverage you should buy. It’ll also recommend deductible limits or if you need coverage for uninsured motorist coverage, medpay/PIP, and umbrella insurance.
How much does full coverage cost?
Car insurance rates are very specific to the person who owns the car: Your age, driving record, credit history and location count as much as the kind of car you are driving. Rates also vary by hundreds of dollars from company to company. That’s why we always suggest, as your first step to saving money, that you compare quotes.
Here’s a comparison of the average yearly cost of the following coverage levels, by state:
- State-mandated minimum liability, or, bare-bones coverage needed to legally drive a car
- Liability coverage of $50,000 for those injured in an accident you cause, up to $300,000 per accident, and $50,000 for property damage you cause
- Full coverage liability of $100,000 per person injured in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $1,000 deductible for comprehensive and collision
- Full coverage iability of $100,000 per person injured in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $500 deductible for comprehensive and collision
- Full coverage liability of $100,000 per person in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $250 deductible for comprehensive and collision
Car Insurance for 25 Year Olds
Compare insurance quotes for 25-year-old drivers
By Peter Carr on Monday 15 January 2018
Are you aged 25 and looking for car insurance? Find out how to get the right cover at the right price.
In this Article
If you passed your test at 17, you could have eight years’ driving experience by the time you turn 25, which is why you start to see your car insurance costs begin to fall.
This means, in a perfect world, you might also have built up a few years’ worth of No Claims Discount (NCD) by the time you reach a quarter century. This should earn you lower premiums than younger drivers on the road, sometimes by up to 70%.
It’s also an age where you start making some big decisions about the future. You might want to save for a wedding, for instance, or even a deposit on a house, so it’s important to make sure you’re making your money go as far as possible. The best way to do this is to make sure you get the fairest possible price on car insurance for 25 year olds.
Why does car insurance get cheaper at 25?
The fact remains that teenagers are burdened with the most expensive insurance, whereas drivers aged 40 and over get the cheapest cover – but why is that?
Insurance premiums are based on how much of a risk you pose. Insurers consider how likely you are to be involved in an accident, or have your vehicle stolen or damaged, and then make a claim. And the higher that risk, the more expensive your car insurance premium will be.
Statistics show that older drivers are involved in fewer accidents than those in their late teens or early twenties, with 19% of all claims made by 17 to 24 year olds. Furthermore, drivers in their mid-twenties are statistically less likely to be involved in accidents than teenagers, which is why you may start to see you premiums drop in price around that time.
The average price for a fully comprehensive policy for a 25 to 29-year-old driver is £545, which is significantly cheaper than the average fully comprehensive premium cost for 17 to 19 year olds, which stands at £1306. That’s according to MoneySuperMarket data for December 2017.
Statistics show that older drivers are involved in fewer accidents than those in their late teens or early twenties
Your insurers will use statistics relating to your age, gender, vehicle, and area in which you live and drive to estimate just how much risk you pose and charge you accordingly. So the lower a risk you pose, the cheaper your insurance should be.
However, this is not always the case so it pays to shop around.
Another easy way of saving a few pounds on your annual premium is by considering black box or telematics insurance, which takes your driving data and transmits it wirelessly to your insurer. If you are a decent driver then you could save up to £202 per year off your car insurance premiums.
Compare car insurance for 25 year olds
With insurance and prices for young people remaining high, it’s important to make sure you get the best possible price for the cover you need.
Our car insurance price comparison service is quick, free to use and covers a huge range of insurance providers, which means you don’t need to go anywhere else.
Answer a few simple questions about yourself and your vehicle and get a quote within minutes, saving you the hassle of reeling off your details to every individual provider.
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Insurance Guide for Older Homes
Owning an older home can be a dream for many people. These homes were built in prime locations, contain larger rooms than many newer homes, and have loads of charm. But people who own homes 50 or 100 years old or more may find themselves running up against some nightmares with insurance that they didn’t bargain for when they fell in love with the house.
The majority of mortgage lenders require home owners to have home insurance as a condition of their mortgage, but older homes have many problems that make them a bigger risk to insure. Many times, elements of the house may be so worn out that insurance companies will refuse to insure the house without some repairs or replacements.
“Depending on the age of a home, most insurance company require the parts of the home to be updated,” says Brian Boak, an underwriter who has worked in personal insurance for 25 years and works for Singer Nelson Charlmers. “Depending on the company, if these are not updated, they may not insure the location due to the additional risk.”
Even if insurance companies don’t outright refuse to cover your home, insurance premiums for older homes can shoot through that outdated roof. With an older home comes an increased chance for damages caused by parts not functioning properly, and insurance companies don’t take on these risks without charging you more.
Replacement costs for homes that are considered antique or historic are also higher since specialized materials and labor are required to restore the home to historical accuracy.
A home inspection can help reveal the age of components of your home, whether you’ve just put in an offer or have lived in your home for years. Many insurers will perform their own inspections to determine if the home is insurable, particularly if the house has a high replacement cost.
“Some companies rely on their agent to provide the replacement cost; some companies hire an outside inspection service to do either an exterior inspection or a full interior inspection. Some companies do the inspections themselves,” Boak says. “The higher the replacement cost the more likely (and desired) that you will get a comprehensive inspection inside and out.”
Table of Contents
Biggest problems for insuring older homes
Older homes across the country face many of the same problems that scare insurers away. Inspectors will be looking for these issues and fixing them will likely bring your premium down significantly.
- The roof: Roofs typically have a life expectancy of about 25 years, according to Boak, so if you have a roof older than that, your chance of a leak is greater. And with water damage being so serious, old roofs can be a sign to insurers that your premium should be raised.
- The electrical system: Most older homes were originally outfitted with small circuit breaker boxes. This combined with old fuses and old wiring can become a problem when faced with the demands of today’s home, Boak says. Air conditioning, electric heat, microwaves, and electric ovens and stoves weren’t used when the home was built, so the extra workload on the electrical system can increase the chance of a fire.
- The plumbing system: Besides plumbing problems being unpleasant to live with, they can also cause leaks and water damage. The invasive nature of repairing water damage makes old plumbing systems costly to insure.
Finding the right policy
Shopping around is important when looking for home insurance, not only for the right price but also for the right policy. If you care about preserving the original features of your home, you’ll want to make sure your policy will pay for the materials that are no longer standard.
Lath and plaster: Older homes often had walls of lath and plaster instead of sheetrock. “Depending on your insurance company they may not pay to replace your lath and plaster walls as they may say that sheetrock is equivalent (and less expensive for them),” Boak says. “Lath and plaster is much more expensive and if you want to keep your old home accurate, you want lath and plaster. Ask your broker what your company will do.”
Lumber measurements: Another consideration to make is your home’s lumber. Today, two-by-fours are actually only 1.5 by 3.5. If you have an old home with “full dimensional” lumber, Boak says, many insurance companies may want to replace it with the cheaper “equivalent,” but you’ll want the original dimensions if you’re trying to preserve the home’s accuracy.
Other added costs to consider are custom molding, solid core doors, and trim that must be custom-made. Anyone with a historic home should make sure they find a company who will insure them for the full replacement value for original features. “You want to make sure you have a true guaranteed replacement cost,” Boak says. “Many companies have replacement cost but it is capped at 20% or 25% above the insured value. You want a company that will rebuild the home exactly how it was with all the
quality you had, regardless of the cost.”
Watch out for any cash value policies. These will only pay for what’s damaged including depreciation, so you could be covered for much, much less than you need or even realized with one of these policies.
Buying an old home
So what do you do if you’re house hunting and have fallen in love with an old house? Don’t rush into anything!
Start getting insurance quotes before closing on your mortgage. By giving yourself time to shop around for home insurance before closing, you can see what you can reasonably expect to pay in premiums, find the best prices, and maybe even stumble on some discounts. You may find that the replacement cost is going to be significantly higher than what you’re paying for the house and that the house isn’t affordable for you because of insurance costs.
Getting quotes from insurance companies will probably also help you find the problems with the house. If you find a few small problems during an inspection, you can budget for it. And if you discover that the whole electrical system and plumbing system need to be replaced, you can walk away.
If you do decide to go ahead with buying a house that needs repairs to make it insurable or bring down your premiums, consider asking the current owner to make the fixes. “If items are old and you are buying the home, you would either want to have the current owner discount the price of the home or update the items for these improvements you will need to make ,” Boak says. “Or expect to add that cost into your budget.”
Tips for home owners
If you already own an old house, you may worry about your insurer raising your premiums significantly or even dropping your coverage altogether. Many insurance companies change the status of your coverage if you file a big claim or several claims in a row. So if your roof gives out and you file a claim, you could be hurting your chances of continuing to be insured.
To avoid this problem, it’s best to try to stay ahead of all repairs and updates if you can. They can certainly be costly, so keep an eye out for warning signs of problems so you can choose what absolutely needs to be fixed first.
Roof: Roofs really aren’t made to last more than 20 or 25 years, but even younger roofs might need replacing. Check for several shingles lifting up, broken, or gone, and then go into your attic to see if you can see any pinholes of light or new water stains.
Electrical system: Look out for flickering lights when you turn on an appliance, switches and plates that are hot to the touch, two-prong outlets, burning plastic smell at switches and outlets, and improper fuses.
Plumbing system: Check out any exposed pipe in your house and look for discoloration, dimpling, stains, and flaking, which could mean your pipes are corroding. It’s a good idea to also look at the color of your water, especially after it’s been sitting in the pipes for a while — try filling your bathtub after a vacation. If it’s brown or yellow, there is probably rust in your pipes.
Old homes can be beautiful investments if you’re prepared to take care of them and keep them up to modern safety standards. If you don’t have the time and money to dedicate to updating your systems, you could find yourself buried under insurance premiums that may cost as much as the repairs in the long run.