Vehicle owners in Petersburg are required by Indiana state law to carry car insurance. From fender benders on Main Street to serious collisions on I-69, a reliable auto insurance policy can shield you from the large financial losses associated with car crashes.
Independent agents make shopping for car insurance easy. These experienced professionals can answer your insurance-related questions and can shop around to find a policy that includes all the coverage you want at the most competitive price. Contact an insurance agent near you to learn more.
How Much Does Car Insurance Cost in Petersburg, IN?
The average cost of car insurance in Indiana is lower than the national average. This is great news for Petersburg drivers who are looking for an affordable policy.
- National average annual car insurance cost: $1,311
- Indiana average annual car insurance cost: $1,033
Of course, car insurance rates vary from one driver to the next, so the cost shown above can only give you a general idea of what you might actually pay.
Insurance companies will base your rates on several factors including the following.
- The make, model, and year of the vehicle(s) you are insuring
- Your age, occupation, driving record, and claims history
- Information about other licensed drivers in your household
- Whether you own or rent your home
- The coverage options you want to include in your policy
- How much liability coverage you want to purchase
- The accident and auto theft rates in the vicinity of your home
You can typically earn lower rates for coverage if you have a long history as a safe driver. You can also get policy discounts if you are a student with good grades, or if you bundle your coverage with another policy like homeowners insurance or renters insurance.
Every insurance company has a different way of calculating rates, so it pays to do some comparison shopping before you purchase a policy.
What Are Indiana’s Minimum Car Insurance Requirements?
If you cause a car accident, you are responsible for covering any medical expenses and property damage sustained by others. Liability insurance is designed to cover these costs. All car insurance policies in Indiana must include liability insurance.
This state also requires you to carry uninsured motorist insurance to cover your own medical bills and property damage if an uninsured, underinsured, or hit-and-run driver causes a collision with you. However, this coverage requirement may be waived if you opt out in writing.
In Indiana, all car insurance policies must include, at a minimum, the following amounts of coverage.
- Bodily injury liability insurance: $25,000 per person/$50,000 per accident
- Property damage liability insurance: $25,000 per accident
- Uninsured motorist bodily injury insurance: $25,000 per person/$50,000 per accident
- Uninsured motorist property damage insurance: $25,000 per accident
If you cause an accident and your liability coverage is not high enough to fully cover your financial obligations, you will be responsible for making up the difference out of pocket. That is why many Petersburg residents opt to purchase higher liability limits than the state requires.
What Else Can Petersburg Car Insurance Cover?
In addition to the requirements listed above, you can choose to add optional coverage to your car insurance policy. Coverage options most car insurance providers offer include the following.
- Collision insurance: This can cover the cost to repair or replace your vehicle if it is damaged or totaled in a car accident, regardless of fault.
- Comprehensive insurance: This can cover the cost to repair or replace your vehicle is if is damaged or totaled in a non-collision event like a hailstorm or a tornado.
- Medical payments insurance: This can cover medical treatments for you and your passengers if you are injured in a collision, regardless of fault.
- Gap insurance: This can bridge the gap between your car’s current value and how much you still owe for it if it is totaled in a covered event.
- Towing and roadside assistance insurance: This can cover the cost of assistance if your vehicle breaks down while you are out on the road.
- Umbrella insurance: This is an affordable way to boost your liability coverage to levels higher than what your car insurance can provide.
You may want to get advice from an insurance professional when you are deciding which coverage options are a good fit for you and your family.
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What Is the Penalty for Driving without Insurance in Petersburg, IN?
Even though it is illegal to do so, approximately 16.7% of all drivers in the state of Indiana are riding around in uninsured vehicles. This is significantly higher than the national average rate of 13.0%.
If you are caught driving without insurance in this state, you can be penalized with these costs.
- Fines ranging from $250 to $1,000
- The suspension of your driving privileges for 90 days to one year
- The need to pay a reinstatement fee of $250 to $1,000
- Higher car insurance premiums
Uninsured motorist insurance enables you to rest assured that if an uninsured, underinsured, or hit-and-run driver is responsible for a collision with you, you will have the coverage you deserve for your injuries and property damage without needing to go through legal channels to collect it.
Unless you have specifically opted out of this coverage in writing, your policy should cover you against uninsured drivers.
Does Petersburg Car Insurance Cover Auto Thefts?
The auto theft rate in Indiana is the same as the national average.
- National auto theft rate per 1,000 vehicles: 2.29
- Indiana auto theft rate per 1,000 vehicles: 2.29
Your car insurance can reimburse you for an auto theft as long as you have included comprehensive coverage in your car insurance policy.
Comprehensive insurance covers far more than just vehicle theft. It can also pay to repair or replace your car if it is damaged in another non-collision event like a windstorm, flood, or garage fire.
If you are still paying for your vehicle or if you have it on a lease, chances are good you already have comprehensive insurance. If not, you may want to look into how much it would cost to add it to your car insurance policy. That way, you can best decide whether or not this coverage is worth the price to you.
Why Work with an Independent Insurance Agent?
Independent insurance agents in the Petersburg area can help you find a car insurance policy that meets all of your coverage and budgetary needs. These agents are free to work with several different insurance providers so they can obtain a variety of customized car insurance quotes on your behalf.
It doesn’t cost anything to work with an independent agent. Contact an insurance agent near you to discover how easy it can be to find the best and most affordable car insurance coverage.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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