Connecticut has mandatory auto insurance laws that are important to know. Failure to comply with the Financial Responsibility laws in the state can cost you! In addition to the state required policies, several other auto insurance policies are available that may be of interest to you.
To satisfy the Financial Responsibility law in Connecticut, auto insurance must be maintained on any registered vehicle in the state at all times.A insurance certificate must be signed and presented attesting that you carry auto insurance on the vehicle. By law, Connecticut auto insurance companies are required to report to the DMV anytime their is a lapse or drop of coverage.
Minimum coverage amounts include $20,000 in bodily injury coverage. This is the amount the auto insurance company is willing to pay to the other party involved in an accident at your fault. This amount covers 1 person injured, with a maximum amount of $40,000 paid to 2 or more injured people. The coverage should also include $10,000 in property damage. The insurance company is willing to pay this amount to cover repairs to property due to an at-fault accident.
Uninsured/underinsured motorist coverage is also required, with minimum amounts of $20,000(maximum of $40,000) for Bodily injury. Uninsured/underinsured motorist coverage covers the costs of an accident involving someone without auto insurance, or whose coverage amounts do not cover the total amount of damages in an accident.
The minimum requirement coverage amounts are very low, and increasing these amounts is always possible. This may offer you a better sense of security for that unexpected event.
As a Torte state, the driver who is the cause of the accident must pay for all medical damages incurred as a result of the accident. This also allows for victims’compensation, money sued for in court, which can include money for lost wages or pain and suffering.
Average auto insurance rates for drivers in Connecticut are $879. Auto insurance companies use a variety of methods to determine your premium amount. Age, type of vehicle, gender, miles the vehicle will be driven, and driving record can all have a serious impact on your rates. Some insurance agencies may even use your credit score when determining your rates.
Assure you get the best auto insurance rates in the state by completing atleast three quotes from different auto insurance companies in your area. Rate quotes are available online, free of charge, and takes a short amount of time. Comparing rates can save as much as $500 per year! A great site to try is www.esurance.com.