Missouri Auto Insurance Quotes
Missouri auto insurance is a necessity for the modern driver. In the state of Missouri, drivers must have auto insurance that meets or exceeds state minimum coverage. Let us show you how to read Missouri Auto Insurance Quotes and how you can get the best deal on your coverage.
Missouri Minimum Coverage
The state of Missouri requires that drivers maintain minimum levels of car insurance coverage. The state defines these levels to be 25/50/10. Your auto insurance agent will likely describe your auto insurance, no matter the size, in a method similar to the above—auto insurance can be described with only three numbers.
Auto insurance quotes read as such that the quote is split into bodily injury per person, bodily injury per accident, and property damage per accident. These amounts are in thousands, so one must have $25,000 in bodily injury per person, $50,000 in bodily injury per accident, and $10,000 in property damage per accident in order to maintain legal coverage amount.
Do note that “per person” and “per accident” are important qualifiers. If you were to be in an accident where the total bodily injury damage exceeded the limit per accident, then the costs above your limit would be yours to pay. Likewise, if one person is injured beyond the per person limit for bodily injury, then the bill amount exceeding your limits is your own personal obligation. Further, note that it is certainly possible for a driver or passenger to experience $30,000 in medical expenses while the remaining people involved experience zero injuries. In such a case, the $30,000 in medical expenses is below the $50,000 per accident, but not the $25,000 figure per person. Your insurance company will cover only $25,000, since the $30,000 in costs are due to only one person’s medical expenses.
Save on Missouri Auto Insurance Quotes
Everyone wants to save money on their auto insurance, but no one wants their savings to increase their risk. Luckily, there are a few ways to save on insurance by skipping those insurance products you don’t need, and buying more of the insurance products that you do need.
When you shop for a Missouri auto insurance quote, keep the following in mind:
State minimums are very low – State minimum auto insurance is a threshold you need to reach only in order to stay legal. It is not the recommended amount of insurance, as damages frequently exceed state minimum limits in even the lowest speed collisions.
Some insurance isn’t worth it – There are several different types of insurance that a company will sell you, many of which are not necessary. One such insurance type is towing insurance, which covers the cost to tow your vehicle in the chance of an accident. Even though towing insurance is a few dollars per month, insuring yourself against a risk that costs $150 or less makes very little sense.
Deductibles are the true saver – You should always seek to increase your risk with deductibles in order to get a lower premium. Deductibles are the amount you pay in the case of an accident, with the insurance company covering the remainder. Often, the difference between a $0 deductible and a $1000 deductible is 50% of the insurance cost. Thus, by increasing your deductibles to $1000, you may increase your risk by $1000 per accident, but save that much per year in lower premiums. This is a risk worth taking, especially if you know that you can, at all times, afford to use emergency savings in the event of an accident.
Car financing matters – Owning your car outright (without a bank loan) significantly reduces the amount of insurance you need to have. Financing companies require that drivers who drive financed cars have collision insurance to cover their own bodily injury and property damage that is their fault. Thus, a financed car may be nicer, faster, and better than a cheap, used automobile, but the cost of insurance for a financed car is often double that of a car already paid for.