Car insurance is one of the most important things you need to consider when you own a car. In Missouri, it is also mandatory to have car insurance. But finding the right car insurance can be a daunting task, especially if you have a tight budget. Here’s everything you need to know about getting cheap car insurance in Missouri.
What is Car Insurance?
Car insurance is a contract between you and an insurance company that provides financial protection in case of accidents, theft, and other unforeseen events. In exchange for paying a premium, the insurance company will cover the cost of damages to your car or other people’s property, as well as medical expenses in case of injuries.
There are various types of car insurance coverage available in Missouri, including:
Type of Coverage
Bodily Injury Liability
Covers the cost of injuries you cause to others
Property Damage Liability
Covers the cost of damages you cause to others’ property
Uninsured Motorist Coverage
Covers the cost of injuries and damages caused by uninsured drivers
Covers the cost of damages to your car in case of collision
Covers the cost of damages to your car in case of theft, vandalism, or natural disasters
Factors that Affect Your Car Insurance Premium
The cost of your car insurance premium in Missouri depends on several factors, including:
Your driving record is one of the most important factors that insurance companies consider when calculating your premium. If you have a history of accidents or traffic violations, you may have to pay a higher premium.
Age and Gender
Younger drivers and male drivers are considered to be at a higher risk of accidents, so they may have to pay a higher premium.
Type of Car
The type of car you drive also affects your premium. Expensive cars, sports cars, and cars with high theft rates may have a higher premium.
The location where you drive and park your car also affects your premium. If you live in an area with high crime rates or high accident rates, you may have to pay a higher premium.
Insurance companies also consider your credit score when calculating your premium. If you have a low credit score, you may have to pay a higher premium.
Tips for Getting Cheap Car Insurance in Missouri
Now that you know what affects your car insurance premium, here are some tips for getting cheap car insurance in Missouri:
Don’t settle for the first car insurance quote you receive. Shop around and compare quotes from different insurance companies to find the best deal.
Bundle Your Policies
If you have multiple insurance policies, such as home insurance or renters insurance, consider bundling them with your car insurance. Most insurance companies offer discounts for bundling policies.
Opt for a Higher Deductible
A higher deductible means you’ll have to pay more out of pocket in case of an accident, but it also means you’ll have a lower premium.
Take Advantage of Discounts
Many insurance companies offer discounts for things like safe driving, good grades, or being a member of certain organizations. Ask your insurance company about the discounts available to you.
Frequently Asked Questions
What is the minimum car insurance requirement in Missouri?
In Missouri, the minimum car insurance requirement is $25,000 for bodily injury liability per person, $50,000 for bodily injury liability per accident, and $10,000 for property damage liability.
Can I drive without car insurance in Missouri?
No, driving without car insurance in Missouri is illegal. If you’re caught driving without insurance, you may face fines, license suspension, or even jail time.
How can I lower my car insurance premium?
You can lower your car insurance premium by shopping around, bundling policies, opting for a higher deductible, and taking advantage of discounts offered by insurance companies.
What should I do if I get in a car accident in Missouri?
If you get in a car accident in Missouri, you should exchange information with the other driver, take photos of the damages and injuries, and contact your insurance company to file a claim.
Can I cancel my car insurance policy at any time?
Yes, you can cancel your car insurance policy at any time. However, you may have to pay a cancellation fee and you may not be refunded for the unused portion of your premium.
Getting cheap car insurance in Missouri is possible if you know what factors affect your premium and how to take advantage of discounts and other cost-saving options. Use the tips and information in this article to find the best car insurance for your budget.