Peoria Car Insurance
Located just about 15 miles from Phoenix, Peoria is a great place for families who want to settle down outside of an urban hub. With a low unemployment rate and projected job growth, there are several reasons why the population has grown by more than 38,000 since 2000.
While it's a desirable city to move to, accident rates in Peoria are very high. In 2014 alone, 2215 accidents were reported.
The long commutes, lack of public transportation, and growing population of retirees are all factors that contribute to a rising number of vehicle crashes. Luckily, all drivers in Arizona are required to carry auto insurance as a form of consumer protection. Here's what you need to know:
What are auto insurance requirements in Peoria?
If you live in Peoria or any other city in Arizona, you're legally obligated to comply with the state auto insurance laws when you have a personal auto with Arizona license plates.
Since Arizona has such a high rate of accidents, auto insurance is mandatory. That means that you must carry insurance that pays for damages that you cause.
Auto insurance is required on private passenger cars, pickups, vans, mopeds, golf carts, and motorcycles that are registered to be driven on public roads. The purpose of the requirement is to ensure that everyone is financially responsible if and when they're involved in an accident.
How much auto insurance is required?
Auto insurance laws vary from state to state. In some states, you can prove you're financially responsible with property or bonds, and in others, there's no option but to buy liability insurance.
Residents of Peoria must have a minimum amount of liability insurance to comply with the law.
Liability protection is third-party coverage that pays for damages that you cause but not damages that you sustain in an accident. It consists of both Bodily Injury, which pays for medical expenses, and Property Damage Liability, which pays for repair costs to fix damage to real property like cars and buildings.
Here are the limits that are required:
- Bodily Injury Liability - $15,000 per person, $30,000 per accident
- Property Damage Liability - $10,000 per accident
Are the minimum limits of liability enough?
The minimum limits in Arizona are actually pretty low compared to the limits in other states with mandatory insurance laws.
If you're buying insurance simply to comply with the law, electing to carry state minimums might feel like enough.
Unfortunately, even if you're complying with the law, having state minimums can put you at risk.
When you're involved in an at-fault accident in Arizona, you're legally responsible for paying for damages to the injured party. At-fault is technically defined as someone who was more than 50% to blame for the actions leading to the wreck.
Damages in even a minor accident can exceed $100,000. That's why you should always consider more than just a bare bones policy.
How much liability coverage should I have?
Just like with life insurance, choosing your limits isn't an easy process.
When you're trying to decide on the appropriate liability limits, you'll need to consider your assets, the area you live in, your income, and your budget for coverage. In this litigious time, those who have a lot to lose should select substantially higher limits than what's required by law.
If you're not sure where to start, most experts recommend that people who own homes and who have a career purchase at least $100,000 per person up to $300,000 per accident in Bodily Injury and an additional $100,000 in Property Damage (100/300/100).
If you have a good driving record and driving experience, the increase shouldn't raise your premiums too much.
Are there coverage options available to pay for your own damages?
With all the focus on liability limits, it's easy to overlook optional coverage types that'll pay for your own bills that you incur after a crash.
Third-party coverage is required but first-party coverage isn't. Before you decide that it's a waste of money, take a look at some of your options and what they pay for:
- Comprehensive
Pays for damage to a covered auto after a fire, theft, vandalism, flood, windshield break or other non-collision cause of loss. Your policy will pay up to the car's Actual Cash Value minus the deductible when you file a covered claim.Comprehensive is required on financed and leased vehicles.
- Collision
Pays for damages to your covered auto after you're in a crash or after there's a vehicle rollover. Collision usually pays when you're at-fault or when there's an uninsured driver. If you're at fault, your rates could go up for filing a claim. Like comprehensive, you must have collision coverage when your vehicle is financed or leased.
- Uninsured Motorist Protection
Uninsured Motorist isn't required in Arizona but it's available to all drivers. The coverage is technically one that pays for your own medical bills when you're in an accident with someone who doesn't have any insurance.
- Medical Payments
Medical payments is a unique coverage because the company doesn't use fault to determine if you're eligible to file a claim. Instead, the coverage pays whenever you're in a car accident or when you're injured by a car as a pedestrian. It's a great option for people with high deductibles or with no medical insurance at all.
- Rental Reimbursement
Considering the fact that the average commute in Peoria is 24 minutes, you'll more than likely need a replacement car while your car inoperable. If you're at-fault in an accident or need a rental car right away, having rental reimbursement can help you cover the cost per day for up to 30 days.
- Roadside Assistance
Roadside assistance coverage helps you when your vehicle is disabled for a number of reasons. It might offer gas delivery, lockout, tire change, and battery starts as benefits. If you don't have coverage with your lender or an outside association, you should add this to your policy.
Do you really need Uninsured Motorist Protection?
Before you ever waive a coverage, it's important to assess risk. Uninsured Motorist is a unique option because you're buying coverage to make up for the absence of coverage through someone else.
With this being said, looking at the rates of uninsured drivers can be helpful.
In Arizona as a whole, around 10.6 percent of drivers don't have insurance. Since there are 3.9 million registered vehicles in the state, it's fair to assume that around 390,000 don't have coverage.
Based on the population in Peoria, you could be exposed to about 17,000 uninsured drivers each day just when leaving your home.
If you consider the fact that you can't tell if a driver has insurance, it makes sense to pay the extra premiums. While the premiums vary, the cost for a minimal amount of protection that can help you get medical treatment isn't really that expensive if you weigh costs and benefits.
What happens if I drive without insurance?
You can't legally drive without insurance in Arizona. If you're caught, you could be convicted of a misdemeanor. The penalties for being uninsured can get steep. Even the first conviction is more than a slap on the wrist.
Here's what you can expect if you're cited or caught by the DMV:
- Fine of at least $500 for first offense
- Suspension of driver license for 3 months
- Suspension of license plates for 3 months
- Fine of $750 for second offense within 3 years
- Suspension of license and plates for 6 months for second offense
- Third offense suspension for 1 year and requirement to file proof of financial responsibility
How can you save money on your insurance?
There are plenty of ways to save money on your insurance if you're on a limited budget. If you're a good driver, you'll automatically receive good driver or safe driver discounts. Here are some other options:
- Driver training discounts
- Mature driver discounts
- Good student discounts
- Anti-theft alarm discounts
- Multi-car discounts
- Multi-policy discounts
Perhaps the most effect way to save money on your insurance is when you shop around for premiums through several Peoria carriers.
Every company has different rates and some favor different groups of drivers. If you want quick rate quotes, you can use an online rate comparison tool from home or work.
In fact, you can enter your zip code below now to access car insurance rates from the top companies in your area!