Do I need full coverage on a new car?

by phillips.nikki » Tue Aug 25, 2009 01:03 am

Someone else is purchasing me a new vehicle. Is full coverage required for all new vehicles or what other kind of insurance can i get? Liability?

Total Comments: 18

Posted: Fri Aug 28, 2009 01:34 pm Post Subject:



OK...then what do you call a vehicle with liability, comp, collision and any required PIP or Medical coverage?

How about -- "Basic Full Coverages" ?

It's not as misleading because it implies less that "All Available Coverage"

Where as "Full Coverage" does imply "All Available Coverage"

In my mind [ for whatever that's worth?? ] Full Coverage would include every and any possible loss situation , need, and and/or expense what-so-ever, and void of any exceptions. No Exclusions.

Care to Build on this fist offer of a definition??

Posted: Sat Aug 29, 2009 02:29 am Post Subject:

I'd be happy to reply.

I've never in my career heard an agent, underwriter or anyone else for that matter use the term "basic full coverage." That only means that I personally haven't heard it. If there's one thing I've learned here over the years is that depending on where a person lives dictates what a person calls something a lot of the time. That being said...

I am personally a stickler for proper terminology, and rarely put up with misuse of insurance language. I have stated, twice now, that I understand that there's no technical insurance term known as "full coverage." Can we get that out of the way please?

I have heard the terms "one-way" and "two-way" insurance which was interesting. When considering liability only packages vs. liability plus physical damage coverage packages- both of which must contain any required medical/PIP benefits, I disagree that use of the term full coverage implies "everything" is covered.

Why? Because of the ubiquitous use of the term. It has become so commonplace that only an insurance licensee who is a total and complete IDIOT doesn't understand the difference. They would have had to have suffered some stroke or be a serious druggie not to understand the difference and be able to explain it. I have also said that it's up to the producer to make sure that their customer understands as well.

Regardless, this isn't one I can get behind. If the producer is that stupid, he deserves any civil action that comes his way due to a lack of any sort of intelligence. The poster who got me on this has probably been brainwashed by some trainer whose company has been sued over some stupid agent move about this and they're paranoid.

Before I forget, Neetalia also said:

Consumers are made to believe that they are fully covered even though there are risks left uncovered that are not disclosed.

All exclusions and limitations on coverage are fully disclosed in the policy. The problem is that insureds don't read the policy and most agents don't understand them either.

InsTeacher 8)

Posted: Sat Aug 29, 2009 10:54 am Post Subject:

I think it's our responsibility as policy holders to read the terms and conditions of our policies. It is a clear understanding of these facts that would help us in the long run, when we need to file a claim. It is good if the agent would help us follow those inexplicable terms, but it's our responsibility to clarify our doubts before they fall so hard on us.

Posted: Mon Oct 05, 2009 03:54 pm Post Subject: simple question

I have a simple question. I have a van that I'm currently leasing. I live in Colorado, do i need to have full coverage insurance? it's really expensive, especially when i only use the van in the summer

Posted: Mon Oct 05, 2009 10:22 pm Post Subject:

If you're leasing it you do not own it, and you are required to carry collision and comp. (in addition to liability) on your policy. If you do not then your lein holder/lessor will put it on the vehicle and it will cost about three times as much.

especially when i only use the van in the summer

This wouldn't matter, but why would you only be driving it in the summer?

Posted: Wed Oct 07, 2009 04:26 am Post Subject:

If the car is going to be leased or under a loan agreement, the lender will most likely require you to purchase full coverage or comp. and collision coverage. This should be done on a new car purchase anyway. The cost is very minimum compared to the risk involved with a new car purchase. I can't think of one driver who would want a brand new car they just bought to get hail damage or have an at fault accident and drive it around all banged up. There is not a person on the road who would like to show off their new ride being banged up and not repaired.

Posted: Wed Dec 04, 2013 08:09 pm Post Subject: ins

Because someone else is the purchaser make sure you have something called RIDER Insurance is :twisted:

Posted: Sat Aug 17, 2019 09:06 pm Post Subject:

I think it would be great if you ask from your nearby insurer. Otherwise, you can see the quotes and features of various car insurance plans. I am also looking to get an insurance plan for my jeep but I am not much sure either they will cover the related accessories or would offer the insurance service on behalf of the use of quality accessories. Such as, I am going to use a jeep lifter to fix anything or to detail it. Either I would share the brand name and other features of jeep lift kits with the insurance agent? The use of quality products and accessories will decrease the cost?

What are your views?

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