McKinney Insurance: What "Full Coverage" Means - TribPapers
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McKinney Insurance: What “Full Coverage” Means

Chad McKinney. Photo submitted.

Skyland – If you think you have “full coverage” on your insurance policy, you might want to take a closer look. The term is often thrown around casually, but it can mean different things to different people—and that can lead to some serious misunderstandings when it comes to your protection.

Historically, “full coverage” referred to comprehensive and collision coverage for vehicles, along with the legally required liability insurance. However, Tanya Yates, a sales manager at McKinney Insurance Services, points out that many consumers today interpret “full coverage” as including every possible type of vehicle insurance. Unfortunately, this is not how most insurance professionals view it, which can result in inadequate coverage when you need it most. “Different insurance carriers provide various optional coverages,” Yates explained. “These include rental car reimbursement, roadside assistance, medical payments, and uninsured motorist protection.” Without a clear understanding of what these options entail, consumers may find themselves underinsured when an accident occurs.

Imagine you’re at a drive-through, starving after a long day. You tell the voice on the speaker that you want food to satisfy your hunger. But without specifying what you want—burgers, fries, or maybe a milkshake—you might end up with something that doesn’t hit the spot. The same principle applies to insurance. When you ask for “full coverage,” you need to be specific about what you want covered. Yates emphasizes that many consumers purchase their insurance online, often focusing solely on the lowest price. This approach can lead to gaps in coverage that only become apparent after an incident. “Consulting with an experienced, licensed insurance agent can provide a more comprehensive understanding of these options,” she said. This guidance is crucial for making informed decisions about what additional coverages to accept or reject.

To avoid the pitfalls of vague requests for “full coverage,” it’s important to communicate your needs effectively. Be specific about what you want to insure; don’t just say “my car.” Provide details like make, model, and vehicle ID number (VIN). Clarify the type of protection you need; are you looking for protection against theft, fire, or water damage? Be clear about your priorities. Don’t rely on previous policies; just because your last policy had certain coverages doesn’t mean they’re right for you now. Ask for an apples-to-apples comparison. Identify what’s not important; if your main concern is liability protection, let your agent know so they can tailor your policy accordingly. Lastly, consider your financial comfort zone; if you can afford a higher deductible, it may lower your premium while still providing adequate coverage.

At the end of the day, you know best what you need from your insurance policy. By being specific and informed, you can ensure that your coverage truly meets your needs—rather than just hoping for “full coverage” that may not exist.