In Missouri, all drivers are required by state and federal laws to fulfill their financial responsibilities. These requirements include the purchase of auto liability and uninsured motorists policies. A failure to comply with these laws results in administrative and criminal penalties. Local agencies provide auto owners with access to Springfield insurance in MO for their vehicles.
Minimum Auto Insurance Requirements
The current minimums for auto insurance in Missouri starts with $25,000 in coverage for a single-victim accident. The maximum for the coverage is $50,000. This maximum is available when there is more than one accident victim. The policy must cover up $10,000 in property damage.
Additionally, the state requires the owner to acquire at least $25,000 for uninsured motorist insurance. The policy must provide a maximum coverage value of $50,000. A failure to comply leads to penalties imposed by the Missouri Department of Revenue.
Penalties for No Insurance
The first penalty for driving without insurance is four points added to the offender’s driving record. Once charged, they must provide evidence of their insurance coverage. If they are discovered driving without coverage a second time, they accumulate eight points on their driver record. This action imposes an immediate suspension of their driving privileges.
The first suspension requires a reinstatement fee of $20 and proof of coverage. An additional conviction leads to fees of $200. Any driver that is convicted of driving without insurance a third time must pay $400 to reinstate their driver’s license.
Factors that Could Increase Premiums
Factors that could increase insurance premiums begin with the individual’s driving record. Any moving violations or accidents could increase premiums immediately. The age of the driver also plays a role in these costs. If they are under twenty-five, they will pay higher insurance premiums. They can reduce these costs by evaluating discounts available to them.
In Missouri, all automobile owners must acquire and maintain insurance coverage. The state requires both liability and uninsured motorists coverage. These requirements are enforced to reduce the potential for auto accident lawsuits and loses for victims. Consumers who need to acquire auto coverage or commercial property insurance Springfield MO should contact their preferred insurer today.