Frequently Asked Questions

Banks and finance companies require you to maintain full insurance coverage on your vehicle if you finance the purchase of the vehicle. This requirement not only protects the vehicle owner’s interests, but also those of the title holder – the party that finances the purchase. However, the term “full coverage” is subject to interpretation and insurance companies often have policies that differ widely when it comes to the extent of coverage provided. It is essential you find out exactly what you are paying for, and what is covered, when accepting a full coverage policy.

To begin with, full coverage does not mean that you do not pay your deductible. Your total deductible is a sum of all the individual insurance coverage options that you have selected. For instance, you may pay $500 for collision insurance and double that amount for theft. However, you still need to pay your deductible if either situation occurs. Remember, your policy does not kick in unless the amount of loss under a particular cover exceeds its deductible.

Secondly, and without actually going into semantics, full coverage does NOT cover everything. For instance, you cannot file a claim for a flat tire. Tires and similar items are regarded as ‘consumables’, which basically means they are expected to wear out over time and require periodic replacement.

While your car could mean a lot to you, when it comes to a claim, the insurance company applies a strictly business formula. If it is cheaper to get your car repaired than replaced, then a repair is exactly what you will get. It is always the insurance company’s prerogative to decide the nature and extent of a payout.

Insurance liability coverage pays for property damage and injury to others in case of an accident. However, this, like other types of coverage options, comes with an upper limit that YOU decide when buying the policy. Typically, insurance companies spell out the limits you place on each individual policy at the time of signing. The company stops paying when that limit is reached and you could become personally liable for further payouts.

On the whole, you need to look for a policy that balances out your limits and your deductibles to a comfortable range. Because full coverage is not necessarily fool-proof!

Consider your individual needs when chosing the right coverage. Answer these questions:

• How much can you afford to pay out of pocket?
• Do you make payments on the car?
• Are there any drivers in your house that can be excluded from the coverage?

The answers should guide your choice of car insurance coverage.

While getting your online quote, you will select coverage options. If you’re unsure about what optional coverages to select, call 800-538-3213, to speak directly with a representative who can answer your questions.

If you’re getting an online quote and need assistance, call 866-505-6767

Yes — it’s easy to change your policy, too! Call us at 866-505-6767 and a Acceptance insurance representative can help you. Remember some changes can affect the price you pay for insurance, so your premium may change.

Banks and finance companies require you to maintain full insurance coverage on your vehicle if you finance the purchase of the vehicle. This requirement not only protects the vehicle owner’s interests, but also those of the title holder – the party that finances the purchase. However, the term “full coverage” is subject to interpretation and insurance companies often have policies that differ widely when it comes to the extent of coverage provided. It is essential you find out exactly what you are paying for, and what is covered, when accepting a full coverage policy.

To begin with, full coverage does not mean that you do not pay your deductible. Your total deductible is a sum of all the individual insurance coverage options that you have selected. For instance, you may pay $500 for collision insurance and double that amount for theft. However, you still need to pay your deductible if either situation occurs. Remember, your policy does not kick in unless the amount of loss under a particular cover exceeds its deductible.

Secondly, and without actually going into semantics, full coverage does NOT cover everything. For instance, you cannot file a claim for a flat tire. Tires and similar items are regarded as ‘consumables’, which basically means they are expected to wear out over time and require periodic replacement.

While your car could mean a lot to you, when it comes to a claim, the insurance company applies a strictly business formula. If it is cheaper to get your car repaired than replaced, then a repair is exactly what you will get. It is always the insurance company’s prerogative to decide the nature and extent of a payout.

Insurance liability coverage pays for property damage and injury to others in case of an accident. However, this, like other types of coverage options, comes with an upper limit that YOU decide when buying the policy. Typically, insurance companies spell out the limits you place on each individual policy at the time of signing. The company stops paying when that limit is reached and you could become personally liable for further payouts.

On the whole, you need to look for a policy that balances out your limits and your deductibles to a comfortable range. Because full coverage is not necessarily fool-proof!

Consider your individual needs when chosing the right coverage. Answer these questions:

• How much can you afford to pay out of pocket?
• Do you make payments on the car?
• Are there any drivers in your house that can be excluded from the coverage?

The answers should guide your choice of car insurance coverage.

While getting your online quote, you will select coverage options. If you’re unsure about what optional coverages to select, call 800-538-3213, to speak directly with a representative who can answer your questions.

If you’re getting an online quote and need assistance, call 866-505-6767

Yes — it’s easy to change your policy, too! Call us at 866-505-6767 and a Acceptance insurance representative can help you. Remember some changes can affect the price you pay for insurance, so your premium may change.