What Does Fred Loya Full Coverage Auto Insurance Cover?
Fred Loya offers affordable full coverage auto insurance, but it’s only available in select states, and customer reviews are very mixed.
Written by Mary Cahill
Reviewed by Brenna Swanston
Fred Loya offers full coverage auto insurance at a competitive price, which can help you cover repair costs if your vehicle is damaged. However, Fred Loya's auto insurance is only available in select states, and its customer satisfaction ratings are below average.
Auto insurance
is generally divided into two types: basic liability coverage and full coverage. Liability insurance is a legal requirement in nearly every state, while full coverage is completely optional. It may be tempting to buy a cheap liability policy to save money, but if your vehicle suffers major damage in an accident you cause, liability won’t help you pay for damages—and you’ll probably be wishing you’d opted for full coverage instead.Wondering if full coverage auto insurance with Fred Loya is right for you? Keep reading to learn all about what Fred Loya’s full coverage options include and what other
types of insurance
you can purchase with this provider.What does Fred Loya full coverage insurance cover?
The term
full coverage
gets tossed around a lot, but its actual meaning is subject to interpretation. Let’s say you’re signing paperwork to finance a new vehicle and the lender advises you that you’ll be required to purchase full coverage
to seal the deal. What that typically means is that you must carry the following three types of insurance: - Liability insurance:Covers the other party’s expenses regardingbodily injuryandproperty damageif you cause a car accident. By law, drivers must have at least liability insurance in every state exceptNew HampshireandVirginia.
- Collision insurance:Assists with reimbursing you for your vehicle repair or replacement costs if you hit another vehicle or a stationary object, even if the crash was your fault.
- Comprehensive insurance:Pays for your vehicle repair or replacement costs that aren’t the result of a collision, such as vandalism, theft, or natural disaster.
All of the above coverage options are available to purchase from Fred Loya. Though Fred Loya doesn’t advertise the grouping of these policies as full coverage, by choosing these three policies, you’ll get the same type of protection that full coverage insurance generally offers.
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Does full coverage really cover everything?
It doesn’t. Full coverage is an umbrella term that’s typically used to refer to the triad of liability, collision, and comprehensive insurance, but it won’t cover everything—so you may want to get familiar with other types of coverage too.
The main difference between basic liability and full coverage is that full coverage allows you to file a claim for your own car. This is the reason why drivers who are leasing or financing a newer vehicle often choose it (or the lender requires them to). New vehicles are more valuable than older ones and full coverage is a great way to keep them safe.
Additionally, Fred Loya has other insurance options that provide even better protection than standard full coverage. Take a look at the table below to explore what these other policies can offer.
Other types of Fred Loya auto insurance coverage
Type of coverage | Description |
|---|---|
Reimburses you for medical bills, lost wages, and property damage if you’re in an accident caused by a driver who has insufficient car insurance or no car insurance at all. | |
Assists with the payment of medical bills if you sustain injuries after a crash. PIP coverage is required by law in no-fault states . | |
Also known as MedPay, this coverage helps pay for medical bills if you or your passengers are injured in a collision, regardless of fault. Only offered in states that don’t legally require PIP. | |
Covers the cost of towing, flat tire repair, and fuel delivery. May also include battery jumpstarts and lockout service. | |
Reimburses you for rental car costs if your vehicle is undrivable for more than 24 hours after a covered accident. |
Is full coverage car insurance from Fred Loya worth it?
If you decide to purchase insurance from Fred Loya, it may be wise to choose full coverage. It’s also recommended to shop around before signing any paperwork so that you know the terms and rates of full coverage policies that are available from other insurance companies.
As we mentioned earlier, the law in most states only requires you to purchase liability insurance. Still, if you’re one of the many drivers who lease or finance your vehicle, full coverage is a worthy investment—especially if you get into a serious accident that ends with your new car being declared a total loss.
Suppose you have full coverage and total a newer vehicle. In that case, you’ll get a
much higher insurance payout
to put toward replacing your totaled car because new vehicles are generally more valuable than older ones. Compare insurance quotes from 50+ carriers with Jerry in under 45 seconds (Title in payload)
4.7/5 rating on the App Store | Trusted by 5+ million customers and 7 million cars4.7/5 app rating | Trusted by 5M+ driversBenefits of full coverage Fred Loya car insurance
There are some perks to choosing a full coverage policy with Fred Loya. For one, Fred Loya offers some of the cheapest rates around for full coverage. They also offer affordable policies for drivers who have an at-fault accident on their driving record.
To complement their competitive rates, Fred Loya doesn’t require a credit check to buy full coverage car insurance or any other policy. They’re also known for having flexible payment options, which can be a big benefit for drivers on a budget.
Drawbacks to full coverage Fred Loya car insurance
At the same time, there are some disadvantages to Fred Loya insurance. To start, they only do business in the following 11 states:
One of the biggest drawbacks is the fact that Fred Loya has an estimated 400% more customer complaints than its competitors. Customer service is one of the most important components of any business, and unfortunately, this is an area where Fred Loya needs to improve.
To make matters worse, In 2012, the Fred Loya insurance company was fined $300,000 for offering customers insurance discounts they did not deliver on and violating Texas’ state insurance laws.
Does Fred Loya have the best full coverage auto insurance?
Fred Loya may offer some of the lowest prices on full coverage, but that doesn’t make it the best. In fact, considering how poor their reputation is for customer satisfaction, it’s hard to give them a glowing recommendation.
In terms of affordability, you may want to look into full coverage rates from insurance companies like
GEICO
, State Farm
, and Erie Insurance
for 2023. According to Forbes, GEICO and Erie have higher than average customer complaints (though not as high as Fred Loya) while State Farm’s customer complaint frequency is low. Keep in mind that these affordable full coverage rates are based on drivers with a good driving record
. As for drivers who have a serious moving violation like a
DUI
in their past, or one or two at-fault accidents under their belt, getting full coverage from Fred Loya could be your best bet money-wise—just be prepared for the possibility of having to deal with a sub-par customer experience. If customer service is a top priority and your driving record has a few blemishes, consider checking out full coverage rates from State Farm or
Nationwide
. For drivers who have to file an SR-22 certificate, Progressive
or State Farm offer some of the most competitive prices on full coverage. The bottom line
If you live in one of the states where Fred Loya car insurance is an option, you may want to look into how much full coverage costs—because the low price might be exactly what you’re after. With that said, you might be better off buying full coverage from a major insurer that services a more widespread area and has a better track record for customer care.
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At what point is full coverage not worth it?
Cars lose their value rather quickly and if you drive an older vehicle with high mileage, full coverage insurance is likely more than you actually need.
What is the difference between full coverage and liability coverage?
Liability coverage will pay for medical expenses and vehicle repairs for the other driver if you get in an accident that’s determined to be your fault. Full coverage includes both collision and comprehensive policies that will help pay for your vehicle damage.
What is a deductible?
An insurance deductible is the amount of money you need to pay toward a claim before your policy kicks in for the rest. Most supplemental car insurance policies have a deductible.
