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Missouri auto insurance laws require drivers to carry bodily and property injury liability, as well as uninsured/underinsured coverage. Find out how to get the best rates while following these laws.
Table of Contents
- What are Missouri Auto Insurance Laws?
- How to Opt-Out of Missouri Auto Insurance Laws
- What Is Bodily Injury Coverage?
- What Is Property Damage Coverage?
- What Is Uninsured/Underinsured Motorist Coverage?
- Other Types of Insurance Coverage to Consider
- Consequences of Driving With No Car Insurance in Missouri
- Tips to Get the Cheapest Insurance in Missouri
What Are Missouri Auto Insurance Laws?
Missouri auto insurance laws require that are all drivers carry a minimum level of coverage. This includes:
- $25000 bodily injury liability per person
- $50000 bodily injury liability per accident
- $10000 property damage liability per accident
- $25000 uninsured/underinsured coverage per person
- $50000 uninsured/underinsured coverage per accident
Missouri requires that drivers show an updated proof of insurance when registering their vehicle with the Missouri Department of Revenue. You should also carry your proof of insurance card whenever driving. If you’re pulled over, the police officer will likely ask for this proof. Missouri drivers are also subject to a Department of Revenue (DOR) random selection system.
How to Opt-Out of Missouri Auto Insurance Laws
According to ValuePenguin, some Missouri drivers can opt out of carrying the state minimum. You can still register your vehicle with the Department of Revenue with the following types of proof:
- Surety bond: A surety bond of a minimum of $60000 shows that you have the funds available if you cause an auto accident. You will need to file the bond with the DOR director.
- Real estate bond: You can also show proof of a real estate bond worth at least $60000 in lieu of auto insurance. The real estate bond also needs to be signed by two other people who agree that if you can’t pay damages following an auto accident, that they will cover them. You will also need minimum equity of $120000 or more.
- Cash/security deposit: You can also make a deposit of $6000 with the DOR, which serves as your liability insurance. This money will be used if you cause an auto accident.
You can learn more about opting out from the Missouri Department of Insurance. In most cases, it makes sense to carry insurance rather than to put that much money at risk.
What Is Bodily Injury Coverage?
Bodily injury insurance coverage is a requirement in most states, including Missouri. This is coverage that will pay for the medical damages of others injured in an accident if you are the cause. If you opt for the state minimum, this means that your insurance provider will cover up to $25000 in damages for a single person, or up to $50000 for an accident with multiple people with injuries.
What Is Property Damage Coverage?
Property damage is not a requirement in all states but is in Missouri. It covers any damages that you cause to another driver’s vehicle. If you buy the state minimum level of insurance coverage, this means that your provider will pay up to $10000 in total damages. It is always a good idea to consider how much property damage you need, as the minimum may not be enough to cover property damages.
What Is Uninsured/Underinsured Motorist Coverage?
Uninsured/underinsured motorist coverage covers you and your passenger’s costs if you are in an accident with someone who does not have insurance, or who doesn’t have enough insurance. This coverage can also provide you compensation if you are in a hit-and-run accident. With the state minimum level of coverage, your insurance company will pay for up to $25000 per person or $50000 per accident.
You can adjust these coverage limits, as long as you maintain the minimum requirements. It is always a good idea to consider how much insurance you will need and adjust your policy as needed.
Other Types of Insurance Coverage to Consider
While these may be the only requirements by law, some driver’s may consider other types of insurance, including:
- Medical payments: A separate medical payments policy covers any medical costs you receive that are not covered under a different policy. Double-check what your health insurance covers before buying it.
- Comprehensive coverage: Comprehensive coverage covers damages not related to an accident. This might include flooding or theft.
- Collision coverage: Collision coverage covers damages to your vehicle, whether or not you are at fault for an accident.
- Roadside assistance: Roadside assistance covers the cost of a tow if you break down on the side of the road. It is sometimes included with comprehensive coverage.
Consider things like the value of your vehicle and cost when deciding what additional policies you need. If you have an auto loan, add-on insurance may be a requirement.
Consequences of Driving With No Car Insurance in Missouri
Driving without car insurance in Missouri can lead to severe consequences. Even if you have insurance but fail to provide proof, you can still be subject to the same consequences, including:
- Four points on your driving record
- Ongoing monitoring by the Missouri Department of Revenue
- Driver’s license suspension
Additionally, if you cause an accident without insurance, you could be personally liable for the damages. No one ever believes that they will cause an accident but if you do, and you don’t have sufficient insurance, it can be financially disastrous.
Tips to Get the Cheapest Insurance in Missouri
You can follow Missouri laws and maintain the mandatory level of coverage without having to pay a fortune with the following tips:
- Inquire about available discounts: Most insurance companies offer some types of discounts. Find out if you qualify for any of them.
- Compare quotes: Comparing quotes among providers is important. Different providers charge differently for things like traffic violations or bad credit.
- Evaluate your coverage needs: Paying for too little, or too much, insurance can be costly. Always evaluate your coverage needs and adjust your policy as needed.
- Maintain a good driving record: Avoiding speeding tickets or traffic violations is important in receiving good rates. These factors can lead to significant increases in rates.
While it is important to ensure your insurance coverage meets Missouri’s laws, you can adjust your coverage otherwise. This can help you obtain coverage at an affordable rate.
Missouri auto insurance laws dictate the level of coverage you need. You can then adjust your coverage to a policy that works for your needs.
Check this out if you need additional information, resources, or guidance on car insurance.
Sources:
Auto Insurance Requirements in Missouri | valuepenguin.com
Missouri Department of Insurance: Automobile Insurance | insurance.mo.gov
What Is the Cheapest Car Insurance in Missouri? | caranddriver.com
State Minimum Car Insurance: Everything You Need to Know | caranddriver.com
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