/ Blog/ Auto Insurance Laws and Policies Got You Down? Learn the Insurance Basics
It’s the law across the United States for drivers to carry some car insurance liability coverage. Minimum coverage varies by state.
What are the automobile insurance laws in Indiana? The personal injury lawyers at Wilson Kehoe Winingham deal with this topic every day. Below is a brief primer on everything you need to know about auto insurance rules in Indiana.
You can easily determine your car insurance rates by shopping at your local Indianapolis car insurance agency to see what’s right for you. The Indiana Department of Insurance is the regulating body that constrains how companies shape their policies.
Keep in mind that car insurance rates may be different for any person. In Indiana, rates will vary depending on a driver’s:
An insurance company is within its right to cancel your policy within the first 60 days of signing. After that, you can only lose your insurance policy if you fail to pay a premium or if you lose your license. However, you are free to cancel your policy at any time. A company can refuse to renew your policy at the end of your policy period, you must be notified at least 20 days in advance.
Indiana uses a tort liability system of auto insurance, which can also be called “fault insurance.” At minimum, Indiana requires that all drivers hold liability coverage for at least $25,000/$50,000 in bodily injury and $10,000 in property damage.
Under fault insurance—which has been adopted in a majority of states—an insurance company pays damages based upon how at-fault each driver appears for the accident. These policies require you to purchase a certain amount of liability coverage in order to cover damages in the event that you are at fault. Any actual damage to your own vehicle or other property, however, would fall under a separate collision coverage. In fault insurance states, it’s also possible to sue drivers for incurred medical expenses, lost wages, and pain and suffering.
Indiana requires that liability policies include both uninsured and underinsured motorists’ coverage, unless a policyholder specifically rejects it in writing. Uninsured motorist coverage is designed to protect you in the event of an accident with an uninsured motorist. In this case, your insurance covers damages for the uninsured party. Underinsured motorist coverage is designed for drivers who don’t have sufficient insurance coverage to pay for the damages from the accident. Your coverage would incur the remaining balance.
Each individual policy will have its own limits and deductibles. Typically, auto insurance policies will cover the following:
In the state of Indiana, drivers who have been in a car accident must be able to demonstrate financial responsibility. You can generally prove that you’re qualified by simply purchasing an Indiana vehicle insurance policy; the insurance company will automatically notify the Indiana Bureau of Motor Vehicles and keep you on positive record given that you make your payments on time.
If you have been turned down by an insurance agency and can’t find coverage, you may need to apply for the Indiana Auto Insurance Plan as an alternative. Any insurance agent licensed in Indiana can enroll you. The program is designed to cover drivers who have been turned away by insurance companies.
If you have been affected by a car accident or you have been unfairly turned away by an insurance agency, you may want to protect yourself with an experienced legal team. Both our auto accident attorneys and insurance bad faith attorneys are armed with 30 years of knowledge and experience to fight for you after your accident. Give us a call at 317-920-6400 or fill out the contact form below to schedule your free case review.
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