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Stover Strong Insurance Brokers Blog

All You Ever Wanted to Know About Insurance

I said I want "FULL COVERAGE"! What exactly does that mean????

Client calls me and says "I want a quote for full coverage on my car". 

This comment is very subjective and solely based on what the caller T H I N K he/she wants and what the agent has to offer. THERE IS NO SUCH THINGS AS FULL COVERAGE folks. Actually, if you ask for full coverage that "COULD" mean you want:

a. the maximum limits of coverage available for liability, medical payments coverage for you and passengers, uninsured and underinsured coverage maximum limits, comprehensive, collision, full glass, towing, rental car reimbursement, accidental death and disability, deductible savings bank, loan lease payoff and more. 

b. basic liability limits along with comprehensive and collision coverage "since there is a loan on the car and your bank is requiring it".

c. something else. 

Let's talk about 10 insurance terms everyone needs to know.

LIABILITY: Bodily Injury to others and Property Damage - usually listed as per person/ per accident injuries/ per accident property damage - ie 25/50/25(in thousands) ***This is the ONLY coverage required by the state of AZ and the minimum limits are 25/50/15

Coverage in case you injure someone or damage someone’s property in an accident. When you buy liability, you choose a limit—this represents the maximum amount we’ll pay for a liability claim. If you limits are too low and the medical bills or car repair bills go over you pay with money from your savings, wage garnishment up to 25% and whatever else the lawyer can find that you have. This is the most important coverage limit selection to protect YOU and YOUR ASSETS and all that you have EARNED. Go higher than lower to maximize your protection.


Coverage to pay YOUR medical expenses, lost wages, and other damages when you’re hurt in an accident caused by a driver who has insufficient or no coverage to pay your bills. This is NOT required by state law but is not a coverage to decline.


Coverage to pay your driver and passengers medical bills regardless of fault. This is NOT required by state law but is a coverage that could help supplement any health insurance deductible and copays and quick payment for medical bills. 


Coverage to repair damage to your vehicle that is caused when you hit, or are hit by another vehicle or object, regardless of fault. IF you make a collision claim on YOUR policy you will pay your deductible to the body shop, even if the accident was not your fault. If you are hit, in most cases the other insurance company will pay for repairs to your vehicle so you don't pay any deductible. This coverage is required when you have a loan or lease on your vehicle.


Coverage to repair damage to your vehicle caused by something other than a collision, such as fire, theft, vandalism, hail, hitting an animal and glass breakage. You can opt for FULL GLASS coverage so your deductible can be waived for repairs. This coverage is required if you have a loan or lease on your vehicle. 


Coverage for towing of your vehicle due to mechanical breakdown. It often will also cover lock out, flat tire assistance and scene of breakdown or to bring you gas. 


Coverage to assist in paying for a rental car while your vehicle is in the shop having claim repairs made. There is a daily maximum limit paid as well as a total per accident coverage limit. This varies by company.

LOAN / LEASE PAYOFF (or GAP insurance):

Coverage to help pay an additional 25% above the value of your car or truck at the time of a total loss. If you owe more than 25% above the value of the vehicle you will still have out of pocket for anything above the 125% covered.


Robert S.

Tuesday, November 10, 2020 at 11:31am MST

Given how many people aren’t fully aware of insurance and what it entails, this is great information to have. Not many people know what “underinsured” is, for example, which will come in handy when it comes time to buy a home.