Auto insurance in the United States
Missouri auto insurance requirements are pretty explicit. Car insurance of some kind is required for all drivers and this proof of insurance must be shown when registering the car or renewing the car license. Even with this requirement and the rigorous efforts of law enforcement to enforce it, there are many uninsured drivers in the state.
Records show that drivers are uninsured for many reasons. It can be financial difficulties, physical difficulties or simply not wanting to comply with the system. In any case, car insurance must be paid immediately after the necessities of life, such as rent and food. Anyone who is in a car accident that is not their fault should have insurance that all costs will be covered. If an accident is caused by people without insurance, they will not have any coverage.
Unlike most states, Missouri allows a car owner to obtain a bond, a money certificate deposit, or some other security for a minimum amount of $ 60,000. They can also file a real estate bond with the Department of Revenue and obtain a self-insurance identification card. If detained by the police, this card or a card from the insurance company must be shown.
The basic insurance requirements are $ 25,000 for each injured person, $ 10,000 for property damage, and a maximum of $ 50,000 for each accident. When purchasing this insurance, drivers are advised to increase these amounts. Uninsured or underinsured motorist coverage is also required of insured drivers. This adds more costs to your premium insurance.
Unlike most other states, commercial, fleet, and rental vehicles are not required to report their insurance status. Of the five million registered vehicles, only 3.9 percent report their insurance coverage to the state. While most have insurance to avoid liability, the information is simply not passed on.
Research has shown that insurance companies are unreliable in reporting data on the people they insure. In addition, forms are sent to registered drivers to verify the status of their insurance. They just have to sign and complete a form. When verifying these returned forms, it was found that 12 percent did not report accurate information.
When it is determined that a driver does not have Missouri auto insurance, and it is the first offense, it only costs $ 20.00 to reinstate it. This is the lowest fine in most of the United States. It would seem that this is one of the reasons why many do not see why to pay for insurance and will go years without it before being discovered.