Missouri law indicates that all drivers must carry auto insurance in order to register and drive a vehicle. However, due to a variety of non-standard requirements, regulations and options, wading through the world of Missouri car insurance can be confusing at best. With the opportunity to self-insure, mandatory UM coverage and other elements, if you don’t know everything about MO auto insurance, you could be left behind and make a poor decision. Keep reading this guide if you want to make the most informed auto insurance purchase possible.
Missouri Auto Insurance Requirements
If you are caught by a police officer or other official driving without carrying proof of insurance, your license may be suspended by up to one year as well as pay a reinstatement fee which can run as high as $400.00 (though the first time fee is only $20.00). If you are caught without proof of insurance for three years following license reinstatement, your license may be revoked permanently.
However, in the state of MO you don’t need to purchase an insurance plan directly from an insurance company. If you can provide a surety bond or another form of indication that you will be able to self-insure, you do not have to purchase a car insurance plan. If you want to set up a surety bond or other form of self-insurance, speak to your local Motor Vehicle Division or Department of Revenue representative.
Minimum requirements for insurance in Missouri are more extensive than in most states. Liability insurance requirements are $25,000 per individual and $50,000 per accident in Bodily Injury Liability as well as $10,000 in Property Damage Liability. Additionally, drivers are required to carry Uninsured/Underinsured Motorist (UM) Coverage at minimums of $25k/$50k.
When your MO insurance expires, the state is not required to send notification. You are still held accountable if you are caught driving with expired insurance, so the onus is on you to make sure that your insurance is up to date.
Missouri Auto Insurance Laws
Missouri car insurance laws utilize what is known as the Tort system, meaning that all damages are determined and awarded according to who is deemed at fault in any given accident. Only the driver at fault will see premiums rise after an accident, and victims have the right to sue for a variety of non-standard bodily injury claims, including pain and suffering or loss of wages. MO tort laws are idiosyncratic when it comes to determining fault, and the ruling is left to the discretion of the judge overseeing your case.
Missouri Auto Insurance Coverage
Missouri car insurance coverage is pretty standard when it comes to the types available to consumers. Because it is a Tort state, consider purchasing higher than the standard Bodily Injury Liability coverage, as damages tend to be higher when courts are involved in producing verdicts. UM coverage is required, though there are other non-standard types of insurance that you may choose to purchase as well. These include Collision Insurance, used to insure against collisions with objects and Comprehensive Insurance, used to insure against theft, elemental damage or anything else that might harm your car. If you lease a car, these two types may be a contractual obligation to purchase. In any event, if you have kids or if you live in a rough area, weather- or crime-wise, they might be good plans to include in your policy.
Additionally, of course, you can choose to self-insure in the state of MO. This effectively consists of a single lump sum set aside for all insurance purposes (from BI to PD to UM to Collision to Comprehensive), recorded by proper authorities and made into an insurance document.
Cheap Missouri Auto Insurance Quotes
Missouri’s car insurance rates are, on average, less expensive than in the rest of the United States. If you want to see just how cheap MO’s rates are, visit any car insurance company’s website. All you have to do is input your personal information into their automatic forms, and you will receive a quote for the type of car insurance you want.
Missouri Auto Insurance Ratings
Missouri Auto Insurance Ratings are determined by standard factors including:
* Demographic information
* Driving habits
* Credit score
* Car make/model
* Previous insurance record
Most of these are things you can’t change, but you should keep in mind that everything you do now potentially affects your premiums somewhere down the line. Getting into an accident, moving to a nice neighborhood or getting a swanky new car may cause your premiums to shoot up.
Missouri Auto Insurance Rates
On average, MO insurance rates are nearly $300 less per year than national rates. Rates are only continuing to fall from their low of $1,127, meaning that if you are locked in to a high insurance rate you should consider shopping around. It is a buyer’s market, meaning that insurance providers are scrambling to provide the best deal for your dollars. Take advantage of it and lock in with low MO auto insurance rates today.
Missouri Auto Insurance Companies
If you opt not to self-insure, Missouri offers a number of world-class insurance providers eager for your business. Some of the better companies include:
* AAA Insurance
* Travelers Insurance
Visit these companies’ websites today and compare quotes for the policy tailored to your needs. Choose the policy whose plans, pricing and details match your desires and needs.