Indiana Auto
Insurance
Indiana has a state minimum liability coverage of 25/50/10.
These amounts stand for coverages one has to have:
* at least $25,000 worth liability coverage
for bodily injury to 1 person.
* at least $50,000 worth liability coverage for all bodily
injuries.
* at least $10,000 worth liability coverage for property
damage.
Each newly written IN auto liability policy must include
uninsured and underinsured motorist’s coverage unless you reject this in writing. Minimum liability limits
are:
* Uninsured Motorists: Bodily Injury:
$25,000/$50,000
* Property Damage: $10,000
* Under insured Motorists: Bodily Injury: $50,000
The uninsured and underinsured motorists coverage allows you
to collect these damages from your own insurance company.
Insurance companies must follow certain guidelines to cancel
or non-renew an insurance policy in Indiana. Insurance companies may cancel your policy within the first 60 days of
a new policy. After your policy is in effect 60 days, the company cannot cancel except for certain reasons, such as
your failure to pay the premium or losing your license to drive. At the end of the policy period, the company may
refuse to renew your policy, but they must give you 20 days advance notice.
An SR-21 or a Certificate of Compliance is a form that must be
filed by your auto liability insurance agent after an accident or following a traffic violation. Filing this form
certifies your financial responsibility. The most common proof of financial responsibility is your automobile
liability insurance policy. This form is required by the Indiana Bureau of Motor Vehicles.
You can apply for the Indiana Car Insurance Plan
through any insurance agent in Indiana. Each insurance company licensed in Indiana must participate in this
program taking its’ share of the drivers who have difficulty buying insurance.
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