Pennsylvania law requires that all registered vehicles in the state carry minimum amounts of auto insurance. The auto insurance must be maintained at all times to remain legal in the state. Liability insurance is required, with coverage amounts of 15/30/5. This means the insurance company will cover up to $15,000 in bodily injury for one person, with $30,000 maximum for all persons involved in the accident. The basic coverage pays up to $5,000 in property damages.
Additional amounts of insurance may be purchased if you wish, as well as different types of policies. Collision insurance is not required in Pennsylvania, however, is a very important type of coverage drivers should consider. Many drivers do not realise that the basic requirements of auto insurance does not cover the cost of repairs to their own vehicle. Collision insurance can save you tens of thousands of dollars in the event of an auto accident, paying up to the Kelley Blue Book Value for total losses or repairs to the vehicle.
Drivers may also choose to self-insure, though it is not the easiest route. In order to self-insure in Pennsylvania, a completed application must be submitted to PennDOT, along with self-insurance and security agreement, current balance sheet and income statement, and a security deposit of $50,000 for one vehicle, and an additional $10,000 for each additional vehicle to be insured.
Proof of insurance must be carried in the vehicle at all times. Proof of insurance includes identification from the insurance agency, an insurance binder, letter from the insurance agency, or PA Assigned Risk Plan completed application. Failure to provide proof of insurance can result in the loss of your vehicle license plates, the suspension of your driving privileges, $300(or more) in fines, as well as reinstatement fees once the suspension falls.
Auto insurance rates can vary greatly from person to person. It is important to compare rates to find the best auto insurance company and best rates for your needs. It is recommended to obtain a minimum of 3 quotes, although doing more is always great. Obtain auto insurance rates for your Pennsylvania city with a site such as www.amica.com or www.dmv.org. Both of these sites can offer up to 5 quotes from the leading insurance companies within a few minutes. Plus, you will find great information and statistics about auto insurance in the state!