Every state in the union now requires at least some level of auto insurance coverage. Mandated Missouri auto insurance coverage is similar to that of many other states. It requires that you purchase motor vehicle liability insurance for at least $25,000 toward bodily injury, $25,000 uninsured motorist and $10,000 for property damage. Maximum coverage for bodily injury per accident is $50,000 and for uninsured motorist coverage per accident, the maximum is $50,000.
Deductible
The amount of the deductible is the initial amount of money that you will pay out of your own pocket when you are in an accident. To reduce premium rates, many motorists choose to have a high deductible. For instance, the first $1000 of expenses may come from your own resources before the insurance company kicks in.
Bodily Injury
If you are in an automobile accident, your liability policy provides for payment when the driver or passengers in the other vehicle are injured. The concept behind a liability policy is that you could be held responsible for the cost of injuries to a person or persons in an automobile accident. The amount of coverage is the amount the insurance company will pay.
If there is one other person involved in the accident, your insurance policy will pay up to $25,000 of expenses after you pay the amount of your deductible. If there are two or more other persons involved, the insurance company could pay as much as $50,000 for injuries suffered in the accident. The maximum amount of coverage per person would still be limited to $25,000.
Uninsured Motorist Coverage
If you are involved in an accident and the other party is not covered by insurance, this part of the basic Missouri coverage protects you from catastrophic expenses. Your insurance company will pay up to $25,000 per person for your own expenses caused by the accident. This coverage covers those in your own automobile.
Property Damage
This portion of the auto insurance coverage assumes that you damaged property belonging to another party when you were responsible for the accident. For example, you may have crashed your car into the crossing arms at a railroad crossing. Your insurance company will pay up to $10,000 for a single accident to allow the owner of the property to repair or replace it.
Missouri auto insurance is not complicated. It assumes that you and your insurance company will take responsibility to pay for damages caused by your negligence or carelessness while operating an automobile. The basic insurance levels are intended to protect other people from financial ruin caused by an accident for which you are responsible.
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