Full coverage auto insurance is a policy that includes protection for the insured's vehicle in the event it is involved in an accident where the insured is deemed to be at fault. These protections assist the insured in repairing or replacing his vehicle where other, liability-based coverages do not.

Comprehensive

Comprehensive insurance coverage pays for repairs or replacement to the insured's vehicle in the event it is damaged due to an event other than a motor vehicle accident. Covered damage may be caused by storms, vandalism, theft, animals, or any other means other than an accident.

Collision

Collision insurance covers the repairs or replacement cost of the insured's vehicle if involved in a motor vehicle accident in which the insured has been deemed at fault.

Deductibles

Both of these coverages generally require a deductible to be paid before covering any costs associated with the repair or replacement of the vehicle.

Requirements by Lenders

Most often, vehicles that are financed will be required to carry full coverage insurance until the loan has been paid in full. Most lenders require that the deductibles be set at $500.

Cost

Comprehensive and collision coverages are generally much more expensive than liability coverage. Also, the insurance coverages are designed to cover only the insured person, and not other people driving the vehicle, though some insurance companies have expanded their offerings to cover non-named drivers under these policies.

Source:

Online Auto Insurance

Progressive