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How Are Auto Insurance Rates Determined?

Below you will find an a wealth of information specific to auto insurance within your state of residence, as well as other auto insurance resources that will be helpful to you when you are shopping for a new auto insurance policy.

Auto insurance regulations by state

Each state has it's own minimum coverage that is required by law in order for a driver to maintain their driver's license in that state.

There are six basic auto insurance coverage components. They are:

Requirements by State

State Coverage Type(s) Required Minimum Liability Limits* ($000)
AL Bodily Injury and Property Damage Liability (effective 6/2000) 20/40/10
AK Bodily Injury and Property Damage Liability 50/100/25
AZ Bodily Injury and Property Damage Liability 15/30/10
AR Bodily Injury and Property Damage Liability 25/50/25
CA Bodily Injury and Property Damage Liability 15/30/5
CO Bodily Injury and Property Damage Liability, Personal Injury Protection 25/50/15
CT Bodily Injury and Property Damage Liability, Uninsured and Underinsured Motorist 20/40/10
DE Bodily Injury and Property Damage Liability, Personal Injury Protection 15/30/5
DC Bodily Injury and Property Damage Liability, Uninsured Motorist 25/50/10
FL Property Damage Liability, Personal Injury Protection 10/20/10
GA Bodily Injury and Property Damage Liability 25/50/25
HI Bodily Injury and Property Damage Liability, Personal Injury Protection 20/40/10
ID Bodily Injury and Property Damage Liability 25/50/15
IL Bodily Injury and Property Damage Liability, Uninsured Motorist 20/40/15
IN Bodily Injury and Property Damage Liability 25/50/10
IA Bodily Injury and Property Damage Liability 20/40/15
KS Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 25/50/10
KY Bodily Injury and Property Damage Liability, Personal Injury Protection 25/50/10
LA Bodily Injury and Property Damage Liability 10/20/10
ME Bodily Injury and Property Damage Liability, Uninsured Motorist, Underinsured Motorist 50/100/25
MD Bodily Injury and Property Damage Liability, Personal Injury Protection (may be waived for policyholder but compulsory for passengers), Uninsured Motorist 20/40/10
MA Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 20/40/5
MI Bodily Injury and Property Damage Liability, Personal Injury Protection 20/40/10
MN Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured and Underinsured Motorist 30/60/10
MS Bodily Injury and Property Damage Liability 10/20/5
MO Bodily Injury and Property Damage Liability, Uninsured Motorist 25/50/10
MT Bodily Injury and Property Damage Liability 25/50/10
NE Bodily Injury and Property Damage Liability 25/50/25
NV Bodily Injury and Property Damage Liability 15/30/10
NH Financial Responsibility Only, Underinsured Motorist 25/50/25
NJ Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 15/30/5
NM Bodily Injury and Property Damage Liability 25/50/10
NY Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 25/50/10
NC Bodily Injury and Property Damage Liability 30/60/25
ND Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 25/50/25
OH Bodily Injury and Property Damage Liability 12.5/25/7.5
OK Bodily Injury and Property Damage Liability 10/20/10
OR Bodily Injury and Property Damage Liability, Personal Injury Protection, Uninsured Motorist 25/50/10
PA Bodily Injury and Property Damage Liability, Medical Payments 15/30/5
RI Bodily Injury and Property Damage Liability, Uninsured Motorist 25/50/25
SC Bodily Injury and Property Damage Liability, Uninsured Motorist 15/30/10
SD Bodily Injury and Property Damage Liability, Uninsured Motorist 25/50/25
TN Financial Responsibility Only 25/50/10
TX Bodily Injury and Property Damage Liability 20/40/15
UT Bodily Injury and Property Damage Liability, Personal Injury Protection 25/50/15
VT Bodily Injury and Property Damage Liability, Uninsured and Underinsured Motorist 25/50/10
VA Bodily Injury and Property Damage Liability, Uninsured Motorist 25/50/20
WA Bodily Injury and Property Damage Liability 25/50/10
WV Bodily Injury and Property Damage Liability, Uninsured Motorist 20/40/10
WI Financial Responsibility Only, Uninsured Motorist 25/50/10
WY Bodily Injury and Property Damage Liability 25/50/20

*The first two numbers refer to bodily injury liability limits and the third refers to the property damage liability limit. (ex. 20/40/10 means coverage up to $20,000 for each person injured in an accident, up to a maximum of $40,000 for the entire accident, and $10,000 worth of coverage for property damage.) The state minimums are based on the most current information available. You should check your specific state requirements to verify these figures.

Auto Insurance Company Ratings

There are some great tools available on the internet to research the top auto insurers in the marketplace. These rating tools primarily measure an insurers:

1) financial strength 2) Claims paying capability and 3) debt ratings 4) customer satisfaction