The best cheap full coverage car insurance quotes
Fact-checked with HomeInsurance.com
If you’re currently in the market for car insurance, you will likely have noticed how you can get minimum coverage, full coverage or something in between if, for example, you purchase comprehensive but not collision insurance. If you want full coverage, you might be concerned about cost, but there are ways to find cheaper options.
What is full coverage car insurance?
Full coverage car insurance is a collection of policies that offer protection for you, your vehicle and other drivers’ vehicles. It typically includes collision, comprehensive, liability, medical payments and uninsured/underinsured motorist coverage. Almost every standard car insurance company offers full coverage insurance for most vehicles.
Full coverage car insurance policies are optional. In states where car insurance is legally mandated, drivers are only required to carry minimum liability coverage, which often includes a specified amount of bodily injury and property damage liability coverage, although some states have more requirements. Minimum liability insurance offers no protection for the policyholder’s vehicle.
Full coverage car insurance doesn’t factor in other optional coverages such as roadside assistance or rental reimbursement. You can also often choose to have a higher amount of coverage than is included in a full coverage policy if you want even more protection.
How much is full coverage insurance?
Full coverage car insurance is an expensive type of insurance because it includes a high amount of coverage. However, every driver will pay a different rate for their insurance. Providers look at personal factors like driving record, credit score, claims history and age to determine a driver’s premium. Here are the average annual rates for full coverage car insurance in the United States:
- $1,555 per year for a good driver with good credit
- $2,076 per year for a good driver with average credit
- $2,424 per year for a good driver with poor credit
- $1,863 per year after a speeding ticket
- $2,125 per year after an accident
- $3,777 per year for a married couple with a teen driver
The cheapest companies for full coverage car insurance
The table below includes a snapshot of the cheapest companies for full coverage car insurance, the average full coverage rate and the price difference between full and minimum coverage policies. Based on the data, the top five cheapest companies for full coverage car insurance are:
- Erie ($1,141)
- American Family ($1,218)
- Geico ($1,260)
- Auto Owners ($1,308)
- Amica ($1,449)
|Rank||Company||Full coverage rate||Difference from minimum coverage rate|
The cheapest states for full coverage car insurance
In addition to personal factors, like age and credit score, insurance rates also vary by state. Things like weather, accident rates and population density can all cause statewide full coverage auto insurance quotes to fluctuate. The top five cheapest states for full coverage car insurance are:
- Maine ($831)
- Ohio ($998)
- Wisconsin ($1,049)
- Idaho ($1,055)
- Iowa ($1,055)
|Rank||State||Full coverage rate||Difference from minimum coverage rate|
States with the biggest full and minimum coverage cost gap
Based on the data from the tables above, here are the three states that have the biggest cost difference between full coverage and minimum coverage car insurance:
- North Dakota ($862)
- Iowa ($848)
- Indiana ($815)
If you live in one of these states, you might be more inclined to purchase minimum coverage insurance to save money. However, keep in mind that minimum coverage insurance is not guaranteed to cover the entire cost of an at-fault accident. Additionally, most insurance companies offer discounts that can lower your premium.
States with the smallest full and minimum coverage cost gap
In some states, the cost difference between minimum and full coverage insurance is relatively small. The states with the smallest cost gap are:
- Maine ($519)
- Ohio ($678)
- Idaho ($718)
When the average price difference between minimum and full coverage insurance is a few hundred dollars, it might make sense to upgrade to full coverage insurance if you can afford it. Full coverage insurance offers significantly more coverage and reduces your risk of paying out-of-pocket after a claim.
What is a full coverage policy and is it worth it?
A full coverage car insurance policy gives you the minimum amount required by your state to protect other people as well as additional types of coverage that will better protect you from financial loss in case of an accident.
Full coverage pros and cons
|Offers vehicle damage protection||More expensive premiums|
|Covers car theft and hit-and-runs||Most coverages require a deductible|
|Reimburses the driver if their car is totaled|
Comprehensive vs collision coverage
Comprehensive coverage and collision coverage are offered with every full coverage car insurance policy. Collision insurance is exactly what it sounds like—it pays for your vehicle’s damages after an accident. Comprehensive insurance will pay for your vehicle’s repairs stemming from non-accident situations, like fire, flood, falling objects, theft or vandalism. Both coverages have a deductible.
Is full coverage worth it?
For most drivers, having a full coverage policy is worth it, despite the higher cost. Full coverage insurance offers significantly more protection than minimum coverage insurance and offers more peace of mind for drivers. Keep in mind that if you have a financed or leased car, your lender will probably require you to carry full coverage insurance until the car is paid off.
How to get cheap full coverage insurance
Full coverage insurance can be expensive, but there are ways to find a cheap policy that has the coverage you need. Here are some ways to get affordable (and good) full coverage car insurance.
Not all car insurance companies are created equal. When you’re shopping for insurance, make sure to look into several different providers, and get quotes from each one. That way, you can see which companies are offering the lowest rate for the amount of coverage you need.
Look for discounts
Most insurance companies have discounts that can lower your premium. Discounts can include being claims-free, being a good student, bundling your policies and taking a defensive driving course.
Raise your deductible
Raising your deductible is another way to get a lower full coverage insurance premium. By raising your deductible, you’re agreeing to pay more out-of-pocket toward a covered loss. However, you’ll pay a lower monthly rate as a result.
- Full coverage car insurance includes collision, comprehensive, liability, medical payments and uninsured/underinsured motorist coverage
- Full coverage insurance is more expensive than minimum coverage insurance
- Most drivers can benefit from full coverage insurance, despite the higher cost
Full coverage car insurance offers a higher level of protection than minimum coverage insurance, and it’s worth the added cost for most drivers. If you’re looking for insurance on a budget, there are plenty of ways to get a cheap full coverage car insurance premium, even if you live in a state with a high average premium.
Coverage utilizes Quadrant Information Services to analyze quoted rates from thousands of zip codes in all 50 states, using the top 15 insurance carriers to determine the average auto insurance premiums. Quoted rates are based on the profile of a 30 year old male and female with clean driving records and good credit. Both drivers insure a new, financed 2018 Toyota Camry, and commute five days a week and drive 12,000 miles annually. Full coverage rates include the following coverage details:
- $100k bodily injury liability coverage per person
- $300k bodily injury liability coverage per accident
- $100k property damage liability coverage per accident
- $500 collision coverage deductible
- $500 comprehensive coverage deductible
State minimum rates include each state’s minimum coverage requirements.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only. Your quotes will be different.