Full Coverage Insurance- What Does That Even Mean?
All right guys, this is a good one today. The term “full coverage.” What does that mean? What you think it means is not what I think it means. What that guy down the road thinks it means is not what his insurance agent thinks it means. But we hear that term thrown around all the time. You call up someone to get a quote and say, “Hey, give me full coverage.” But like I said, the problem is the term full coverage means something different to everyone.
To some people, if you say “I have full coverage” that means that you have liability plus comprehensive coverage and collision coverage. That’s it. To some people it means you have comprehensive coverage, collision coverage, rental car reimbursement and roadside assistance. And that’s it. To other people it means all of those that I listed plus medical payments.
And so it’s very important when you call your insurance agent, or your insurance company, to not just throw out broad used terms like “full coverage,” but rather to get down to the nitty gritty, make sure you understand each coverage you’re asking for and make sure that the coverage that you want and that you need is actually on there. Because just saying the word full coverage and then thinking, ‘Oh, I’m good.” And going to bed and sleeping at night, is not sufficient. Your policy may not be what you think it actually is.
And so what we started doing when we speak with our clients, or when prospective clients come in and say, “I want full coverage.” I say, “Okay, hold up, that’s fine, but tell me what you mean by full coverage.” Most of the time they don’t know, so we break it down and we explain it. But that’s what I would recommend to you guys. When you speak with your insurance company and your insurance agent, don’t just throw out the word full coverage. Actually get down, speak with your agent, make him explain to you what he means by full coverage, explain to him what you’re looking for and what you actually need and want, and make sure that that’s covered. Go line by line, coverage by coverage. That’s a lot better of a way to make sure that you’re covered versus throwing out the word “full coverage.”