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Full Coverage-- what does that REALLY mean?

Full coverage doesn't actually exist...


Contrary to popular belief, there is no actual policy labeled as "Full Coverage". Needless to say, insurance providers don't offer a plan that actually covers 'everything'. When people use this term, they are typically referring to comprehensive, liability, and collision. However, many people aren't aware of what these types of coverages entail or how it applies to their policy. Learn about the different types of coverages so you can create a plan that best suits you, your family, and your pocketbook.


LIABILITY COVERAGE:

- Liability insurance is the lowest amount of insurance required in the state of Oklahoma. It protects the insured from being sued or held liable for injury, damage, or other carelessness. It covers legal costs and payouts in which the insured party is found liable. General liability insurance does not cover intentional damages or business related claims.


COLLISION COVERAGE:

-Collision insurance covers damages to your vehicle if you are found at fault. However, it doesn't cover the other party's vehicle or any bodily injury that may occur.


COMPREHENSIVE COVERAGE:

- This type of coverage covers damage not done by another vehicle. These include weather, theft, and fire, for example.

These three types of insurance are a good starting point for having "full coverage insurance"; although the security of your auto insurance depends on other factors such as your deductible amounts and policy limits. Additional coverages may be added such as medical pay and road side assistance, just to name a few.


There is more to insurance than one might think, but don't let it scare you. Know your basics, what coverages best suit you, and always call around to get the best quote for you and your household.

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