Connecticut Car Insurance FAQ
Q: What are the consequences of simply not getting
Connecticut car insurance? I've never had an accident
and car insurance seems like a big hassle.
A: First off, the Connecticut Department of Motor Vehicles has a system in place that virtually insures that every vehicle registered in the state has the state-required minimum level of insurance. To register a newly purchased vehicle, the vehicle must be insured. Further, if you stop paying your car insurance and your policy is cancelled, the insurance company will let the Connecticut DMV know about this and you will have to pay a fine ($200 as of 2008). You will also have to renew your insurance, which may also carry a penalty, to avoid having your vehicle registration suspended. Uncorrected, this bit of legal trouble would snowball to greater and greater legal trouble to the point that simply paying your insurance premium would seem rather attractive in comparison.
Secondly, even assuming it were perfectly legal to drive around uninsured, it would still be unwise to say the least. Accidents can happen to anyone, no matter how careful, and no matter how many years they have driven without an accident. Thus, given that it is quite possible for you to be in an accident, you have to consider what your situation would be if this were to happen and you were uninsured. While the loss of your vehicle without compensation would be a bad thing, this might be nothing compared to the lawsuits that might be leveled against you. Aside from being without a car, you might end up owing a lot of money to others for injury or property damage.
Q: How can I determine which of the cars I'm considering buying will be the least expensive to insure? Is there a guide that will give me the information that I will need?
A: Car insurance companies do have a ranking system that determines the cost of insuring a given vehicle, other things equal. While this system is inside information for car insurance companies, you can tell which of your prospective purchases would be the cheapest to insure, at least for you, by getting quotes for each one. Aside from this, a general tendency is that sportier vehicles are the more expensive to insure, while less sporty vehicles are cheaper.
Q: What specifically are the Connecticut
state requirements for car insurance?
A: As of 2008, the requirement is liability protection (protection against lawsuit awards) of the following kinds and amounts:
- $20,000 bodily injury per person.
- $40,000 bodily injury per accident.
- $10,000 property damage per accident.
You may often hear the above referred to as 20/40/10 coverage. Additionally, the State of Connecticut requires $20,000 per person and $40,000 per accident or Uninsured/Underinsured Motorist (UM/UIM) coverage.
Q: Is it true that I can lower my Connecticut car insurance premium by agreeing to pay a higher deductible
in the case that I file a claim?
A: This depends on your particular situation and your car insurance company, but, generally speaking, yes. Agreeing to pay a higher deductible in the case of a claim lowers the risk to your car insurance company in insuring you. Hence, they will charge you less. It is critical, however, to be sure that you can pay that higher deductible in the case that a claim is filed. In some cases, especially when the money is to be paid in repair bills or medical bills, a very unpleasant situation will arise if you cannot.
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