PLPD insurance vs full coverage is a question that is constantly bombarding drivers. The question of whether to buy PLPD insurance or full coverage often seems to come up as a heated debate between friends, family, and coworkers alike. What should you do? Well, we can help you decide!
Benefits of PLPD insurance vs full coverage
1. “The PLPD is cheaper.”
This is the most common myth in regards to PLPD insurance vs full coverage. The truth is, the price of full coverage insurance is usually cheaper than PLPD insurance. However, on a number of occasions, PLPD insurance can be cheaper than full coverage. This will only be satisfied if you have a positive driving record and have taken your time in buying the PLPD policy.
2. “PLPD insurance eliminates or reduces my risk.”
Do not misunderstand this statement! We’re not fooling anyone! The truth is no matter what kind of coverage you have, it still puts your driving at risk. A PLPD insurance policy is meant to protect you from the consequences of an accident; not eliminate it.
Also, a PLPD insurance policy does not insure you for damages that are not caused by your car. This is something you need to take into consideration if you are thinking about buying full coverage insurance but only have a PLPD insurance cover. If an accident happens due to someone else’s negligence or the negligence of the owner of the property, then your PLPD is useless.
3. “PLPD insurance reduces my risk.”
As mentioned in #2 above, a PLPD is meant to reduce risk and not eliminate it. However, this depends on your driving record and other factors like age, gender and location.
People with a good driving record, teenage and younger people, mature people and residents of less accident-prone areas are the ideal candidates for PLPD. On the other hand, most drivers in their 30s or 40s, males and residents of accident-prone areas are ideal for full coverage insurance policies.
The costs involved in buying full coverage can be considerably high for people who have accidents more frequently than others. This is where a PLPD saves the day! For people who have not been in any accidents, PLPD is great because it will save you tons of money. On the other hand, if you have had an accident or two in your past years of driving, then full coverage is the better option.