North Dakota state law requires that the owner of a motor vehicle carry liability, uninsured and underinsured motorist, and no fault insurance coverages at all times. However, some drivers may be unable to get automobile insurance through regular insurance agencies for reasons including a poor credit rating or bad driving record. The North Dakota Automobile Insurance Plan commonly referred to as “the assigned risk plan”provides a mechanism for drivers to be able to obtain the required insurance coverages. This makes auto insurance available for anyone wishing to purchase coverage, regardless of credit or driving record.
Under North Dakota law, liability insurance coverage must include a minimum coverage amount of $25,000 in Bodily injury coverage, with a maximum amount of $50,000. These amounts reflect what the auto insurance agency will pay for an at-fault accident for death or injuries to parties of the other vehicles. In addition, $25,000 in Property damage insurance is required to cover the costs of damages caused by an accident. Uninsured motorists coverage amounts are a minimum of $25,000. This coverage protects you in the event of an accident with someone who does not carry the required auto insurance.
These amounts are minimal amounts of auto insurance you must obtain, and you are always free to add additional coverage amounts or policies to help ease your worries. Collision coverage is beneficial, and one additional policy to consider. Collision coverage can provide up to the Kelley Blue Book value for damages of your personal automobile after an accident. Many people are unaware that this is not included in basic policies, and may find themselves left with outrageous repair bills if an accident occurs.
Failure to comply with the state required auto insurance requirements is a class B misdemeanor in the state.Penalties include fines of atleast $150, as well as the suspension of your driving privileges. It is always in your best interest to carry the required amounts of auto insurance at all times!
Of course auto insurance agencies provide insurance policies for just about anything you can think of, and many additional policies can protect your vehicle even more. Visit www.dmv.org/northdakota for more information pertaining to North Dakota insurance laws and policies. While you are there you can also check out a few quotes from the top companies in your area and save hundreds of dollars on your insurance premiums!