Auto insurance. Delaware (DE).In Delaware, uninsured drivers are against the law and cost other drivers money in higher insurance premiums. Registered vehicles are randomly checked for coverage and insurance companies will notify the state if coverage is dropped. Driving without insurance can cost you a fine, your license plate or your driver's license. In Delaware, all drivers are required to carry three types of auto insurance: 1. Bodily Injury Protection - $15,000/$30,000 If you are responsible for the injury or death of another person and have minimum coverage, your insurance company will pay: Up to $15,000 to one person involved in a single accident Up to $30,000 to all people involved in a single accident, with no more than $15,000 to any one person 2. Property Damage - $10,000 If you are responsible for damages to another person's property and have minimum coverage, your insurance company will pay: Up to $10,000 to a person involved in a single accident 3. Personal Injury Protection (PIP) - $15,000/$30,000 Whether you are responsible for the accident or not, your insurance company will pay for the medical expenses and loss of wages for you and your passengers. If you have minimum coverage, your company will pay: Up to $15,000 to any one person involved in a single accident Up to $30,000 to all people involved in a single accident, with no more than $15,000 to any one person Also included in PIP coverage is up to $5,000 for funeral expenses. The minimum amounts in these three categories are relatively low and you may wish to purchase additional coverage to protect yourself from possible claims in higher amounts. Keep in mind, however, that as you raise your coverage, your premiums will increase. Things that affect your auto insurance rates, some controllable and some not: Gender and age: Men have more accidents on the road than women; certain age groups tend to have more claims. Type of vehicle: Luxury and sports cars average a higher number of claims; also the more expensive a vehicle, the more expensive it is to insure. Driving record: Drivers with previous violations or accidents are considered to be a higher risk. Discounts: Auto insurers may offer premium discounts for numerous reasons, including for people who have taken an approved defensive driving course. Ask your agent what discounts are available to you. Amount of coverage: If you choose to carry coverage above the mandatory minimum, your premiums will be higher. Deductible amount: Choosing a higher deductible will reduce the premiums of your car insurance. However, your out-of-pocket expense will be higher if you have an accident. Usage of vehicle: The more you drive, the higher the risk and so the higher the premium. Where you live: Urban areas have more claims than rural areas and some areas have more frequent accidents than others. Marital status: Claims history shows that married persons tend to have fewer claims. Tips on lowering your auto insurance premiums: Shop around and compare prices. A list of companies can be found in the yellow pages. Maintain a good driving record. Take the highest deductible you can afford on collision and comprehensive coverage. A higher deductible will mean lower premiums. But remember that you will be responsible for the deductible amount if you have an accident. Take defensive driving. If all drivers of a vehicle complete an approved course, you can receive 10 percent off a portion of your auto insurance for three years. If you take a refresher course just before the end of the three-year period, you can receive a 15 percent discount. A list of defensive driving courses can be found here. Before buying a vehicle, call an agent for a quote on the cost of insuring it. Sports cars, luxury cars and more expensive cars cost more to insure. (A quote is only an estimate of the premium.) Review your policy periodically and update coverage accordingly. As a car gets older and loses value, you may not need as much insurance for it. With some cars, it may make sense to only carry minimum coverage. Ask whether there are discounts offered for: Multiple cars on a policy Good student drivers Mature drivers Airbags, anti-theft devices and other equipment Accident-free record Other insurance with same company |
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