MSAD
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There is no rule or law that I know of that prevents a car from carrying physical damage coverage.
However, most insurance companies have guidelines they follow that detail what risks they are willing to insure. Most will not provide physical damage coverage on a car with a salvage title. Some will not provide physical damage coverage with out inspecting the car first. Others may have age limits - only a car that is 10 years old or newer.
So, I'd answer your question like this: Yes, any can can carry physical damage coverage IF you are able to find an insurance company that is willing to provide the coverage for that vehicle. |
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Bob D
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also no car that is a salvage cannot get ull coverage. |
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Reena
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I believe you can buy whatever kind of insurance you want to pay for.
Only problem... the "full coverage" will only cover the true value of the car. If it is brand new... great.
If it is an old clunker with little to no blue book value then all you will get is that blue book value and you paid too much insurance.
Evaluate what kind of insurance makes sense. Why pay a high premium when the insurance co. only pays a little if your car is totaled?
Of course the insurance agent would love to sell you "full coverage" for a used car... go ahead and pay $100 a month but you will be the fool when something happens and you end up with a measly $3000 because that was all your car is worth. |
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james m
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There are a lot of misconceptions as to what "full coverage" is.
Actually, one cannot purchase "full coverage" insurance for a car. Also, insurance companies will not usually write physical damage coverages on older vehicles 10 years or older. A salvaged vehicle cannot be insured with physical damage coverage.
One can't get "full coverage", meaning "without deductibles, with total liability coverage". This is because there is going to be a deductible for collision repair, and, depending on potential injuries and property damage, one may not be able to purchase enough coverage for the potential liability.
Also, if a vehicle is totalled, the insurance company will settle based on the Blue Book value of the vehicle, minus the deductible. If the vehicle is a newer one, it's possible, and probable that the Blue Book price will be less than what is owed, if financed. This is called a gap in coverage. If this happens, you would still be responsible for paying the loan balance.
Some insurance companies write "Gap" insurance. Progressive is one. Also, when the vehicle is initially financed, the finance manager may offer Gap insurance, and finance it in with your payment.
One avenue to cover potential high liability risks would be to purchase an Umbrella Policy, which would cover the liability on your auto and your home, or renter's, insurance, over and above the highest limits available on your home and auto policies. This could take your total liability limits up to $1,000,000 or more above the limits on your auto, home or renter's liability coverages.
An Umbrella Policy is a very good idea, especially if it could be perceived by the potential victim that the insured has "deep pockets".
A $1,000,000 Umbrella Policy can be purchased for as little as $100 or less per year. |
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Amanda S -Insurance Attorney
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Hi M S,
You can purchase full coverage on any car. Some cars you may not want to carry Full Coverage since it may cost more than the car is worth.
Good Luck :) |
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src50
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Yes, unless it has a salvage title. |
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MAN N
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It will depend from your insurance company.
car-insurance.22web.net - I personally have their car insurance. As I know it provides such a service for almost all cars except salvaged. |
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mbrcatz
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No. First of all, there's no such thing as being "fully covered". **What I mean, since I've got those down thumbs, is that when people say full coverage, all it means, is at least minimum state requirements - which might not even include liability - plus collision, plus comprehensive. No towing. No pip, in some states. Minimum property damage in some states is $5,000 - so if you hit someone, with THAT "full coverage", you could end up writing a check to them for ten thousand, or even more - whatever their car was worth. Plus, that coll & comp coverage has DEDUCTIBLES, the amount out of your pocket with EVERY CLAIM. SO. At the very least, with every claim you put in on your policy, you're going to pay SOMETHING, even if it's covered. So no "full coverage".**
Then, assuming by "full coverage" you mean physical damage, if a car is more than 10 - 15 years old, most insurance companies won't give you collision insurance on them. |
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