If you own a vehicle in Covington, IN, you are required by law to have car insurance. Whether you are in a fender bender on Liberty Street, accidentally hit a pedestrian while making a turn, or a tree falls onto your car during a windstorm, a solid auto insurance policy can prevent you from facing large financial losses.
Finding the best car insurance is easy when you work with a local independent agent. These agents can provide you with a variety of customized auto insurance quotes. That way, you can be sure you are getting the coverage you need at a great price. Find an insurance agent near you to get started.
How Much Does Car Insurance Cost in Covington, IN?
If you are a Covington driver who is looking for an affordable car insurance policy, you will be happy to learn that car insurance rates in Indiana are lower than in most other states.
- National average annual car insurance cost: $1,311
- Indiana average annual car insurance cost: $1,033
Car insurance costs can vary a lot from one driver to the next. Your actual costs will be based on factors such as the following.
- The make, model, and year of your vehicle(s)
- Your age, occupation, marital status, and driving record
- Information about other drivers in your household
- The accident and auto theft rates where you live
- The average number of miles you drive per year
- The amount of coverage you are purchasing
- Whether you are bundling your coverage with another policy like home insurance or renters insurance
When it comes to car insurance, experience matters. Therefore, you can expect that a senior at Covington Community High School will be charged higher rates than their 50-year old teacher who has a clean driving record.
Looking at rates from a variety of insurance companies lets you be sure you are getting your policy at a competitive price. Independent insurance agents make comparison shopping easy.
What Are the Car Insurance Requirements in Indiana?
This state of Indiana requires drivers to carry liability insurance and uninsured motorist insurance. Liability insurance covers injuries and property damage that you may cause to other people. Uninsured motorist insurance covers damage others may cause to you when they are driving without insurance.
The requirement to carry uninsured/underinsured motorist insurance may be waived, but you must opt out in writing.
Your car insurance policy must meet or exceed the following coverage amounts.
- Liability coverage
- Bodily injury liability insurance: $25,000 per person/$50,000 per accident
- Property damage liability insurance: $25,000 per accident
- Uninsured/underinsured motorist coverage
- Bodily injury insurance: $25,000 per person/$50,000 per accident
- Property damage insurance: $25,000 per accident
If you cause a serious collision, the costs can easily exceed what a minimum coverage policy will pay for. That is why many residents of Covington purchase car insurance with more liability insurance than the state requires.
If you want even more liability coverage than your car insurance provider can offer, you can also purchase umbrella insurance, which is an affordable way to boost all your liability coverage.
What Else Can Covington Car Insurance Cover?
In addition to the coverage that is required by law, insurance companies offer many options such as the following.
- Comprehensive insurance: This can pay to repair or replace your vehicle if it is damaged by a non-collision event such as a hailstorm or a tornado. This coverage may be required by your lender if you are still paying for your vehicle, or by the dealership if you are leasing it.
- Collision insurance: This can pay to repair or replace your vehicle if it is damaged in a collision, regardless of fault. This coverage may be required by your lender if you are still paying for your vehicle, or by the dealership if you are leasing it.
- Medical payments insurance (MedPay): This can cover the cost of medical treatments for you and your passengers if you are injured in collision that you caused.
- Gap insurance: This can bridge the gap between what you currently owe for your vehicle and what it is currently worth if it is totaled in a covered event.
- Towing and roadside assistance insurance: This pay for needed help if your vehicle becomes disabled while you are out on the road.
- Rental reimbursement insurance: This can pay for the cost of renting a vehicle while repairs are being made to your car following a covered event.
An independent agent can help you determine which, if any, of these options are a good fit for you and your family.
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What Is the Penalty for Driving without Insurance in Indiana?
Driving without insurance in Indiana is illegal. If you are caught, you can face the following penalties.
- Fines ranging from $250 to $1,000
- The loss of your driving privileges for 90 days to a year
- The need to pay reinstatement fees to get your driving privileges back
- Higher insurance rates
Even so, about one out of every six drivers sharing the roads with you in this state is in an uninsured vehicle. That’s why uninsured motorist insurance is so important.
- Percentage of US drivers who are uninsured: 13.0%
- Percentage of Indiana drivers who are uninsured: 16.7%
If you are in an accident that was caused by an uninsured, underinsured, or hit-and-run driver, uninsured motorist insurance can provide you with immediate coverage for related medical bills and repair costs.
Does Covington Car Insurance Cover against Vehicle Thefts?
The auto theft rate in Indiana is the same as the national average. In the small city of Covington, there are very few reports of stolen vehicles.
- National auto theft rate per 1,000 vehicles: 2.29
- Indiana auto theft rate per 1,000 vehicles: 2.29
Even though your risk is low, it is important to know that you cannot be compensated for a stolen car unless your auto insurance policy includes comprehensive, or “other than collision,” insurance.
Comprehensive insurance covers against more than just theft. It can also reimburse you for loss and damage to your car due to a variety of other non-collision problems such as if your car is damaged by a windstorm or flood.
If you are still paying for your car, or if you have it on a lease, chances are good you already have comprehensive insurance. Otherwise, you may want to consider adding it to your Covington car insurance policy.
Why Contact an Independent Insurance Agent in Covington, IN?
You can turn to a local independent agent for help when you are looking for a reliable car insurance policy that meets your coverage and budgetary needs. These agents are free to work with several insurance providers, so they can shop around for the best and most affordable policies.
Set up an obligation-free consultation with an independent insurance agent near you to start comparing customized car insurance quotes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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