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If you're a Missouri resident or planning to move to the Show-Me State, it's important to understand the unique aspects of auto insurance in Missouri compared to other states.
When it comes to auto insurance, each state has its own set of minimum liability coverage requirements. Liability coverage pays for damages caused by an insured driver to another person's property or injuries. In Missouri, the minimum liability coverage requirements are 25/50/10.
The Insurance Information Institute (III), Missouri's minimum liability coverage requirements are higher than the median state requirements, which are typically 25/50/25. This means that Missouri has higher bodily injury per accident coverage, but lower property damage coverage compared to the median state requirements.
Auto insurance premiums vary depending on various factors, including the state you live in. Premiums are influenced by factors such as the state's population density, weather conditions, crime rate, and other risk factors. According to data from the National Association of Insurance Commissioners (NAIC) for 2019, the average annual auto insurance premium in Missouri was $786, while the national average was $1,004.
The NAIC data shows that Missouri's average auto insurance premium is lower than the national average, making it relatively more affordable compared to other states. However, it's important to note that premiums can vary widely depending on individual factors such as age, gender, driving history, and coverage levels.
Insurance protects you and your assets in case of loss, injury or damage; either caused by you, or by someone else. Auto insurance usually consists of the following protections:
But additional protection may include:
Missouri is not a "no-fault" insurance state, which means that in the event of an accident, the at-fault driver is responsible for covering the damages of the other driver. This is different from "no-fault" states where each driver's insurance pays for their own damages, regardless of fault.
According to data from the Insurance Research Council, as of 2020, about 38% of states in the U.S. had "no-fault" insurance laws in place, while the majority of states, including Missouri, did not. This means that in Missouri, the determination of fault in an accident is crucial in determining which driver's insurance will cover the damages.
Auto insurance in Missouri has some unique aspects compared to other states in the U.S. It's essential to understand these differences when obtaining auto insurance in Missouri and ensure that you have the appropriate coverage to protect yourself and your vehicle on the road.
Contact us today, and we'll help you protect what matters most.