When shopping for auto insurance many people ask the question “What’s the difference between full coverage insurance and a liability only policy?” In most circumstances liability only insurance polices are required by state law.
The Liability part of an insurance policy covers expenses paid to the other driver if you are at fault in an accident. Missouri state law requires a minimum of $10,000 in coverage, however you can purchase more coverage if you choose. Liability only insurance does not cover any damage to your vehicle either from another driver you.
Full coverage includes liability coverage as well as comprehensive coverage. Comprehensive and collision coverage pays for damages to your vehicle when the other driver is at fault. Depending on which auto insurance plan you choose, full coverage may also cover damage to your vehicle from hail, storms, acts of civil disobedience, and other causes of damage.
With full coverage you will often pay a deductible when filing for damages and then the insurance company covers the rest. Deductibles are often $250 to $1000 out of pocket. Occasional insurance providers may offer plans with no deductible. The lower the deductible, the higher the monthly premium will cost. If you have an auto loan, your lender will often require full coverage for the duration of your loan. Once your auto loan is paid off you may opt for less coverage.
At STL Insurance Stop we help Missouri drivers find the auto insurance plan that fits their budget. Call us today at (314) 475-5637 and we will help you find low cost auto insurance that fits your needs and budget, whether you opt for full auto insurance coverage or a liability only policy.