Reader’s Question:

I understand that in order to finance a vehicle in Florida, I’m required to have full-coverage car insurance. However, every time I shop for car insurance quotes, there isn’t an option to just choose “full-coverage”. I would have to choose deductible and other services. What really is called a “full coverage” car insurance?

Sabina

Cape Coral, FL

What people refer as “full coverage” is the state’s minimum required liability coverage plus coverage to protect your own vehicle. By definition, full coverage is the insurance coverage that includes physical damages of collision and comprehensive which cover the damages caused to your own vehicle.

To break it down, collision coverage covers the damage to your automobile caused by collision with another object while comprehensive insurance covers damage to your automobile from vandalism, theft or glass breakage. Like what you’ve mentioned, if you’re financing or leasing your vehicle, physical damage coverages are required.

As for what specific coverage you will be required to carry on the vehicle until it is paid in full, your financing company should be able to discuss this in the loan or lease paperwork. In the state of Florida, this likely means property damage liability (PD), Personal Injury Protection (PIP) and collision and comprehensive. Since your financing company may have limitations on what your deductible amount should be, read through your paperwork or better yet speak with your Florida auto insurance agent to determine what exact coverage you’re required to carry.