Having auto insurance is a smart idea, but did you know it's also required by UT state law? Now, you've just got to find the coverage that's right for you. Don't worry, the agents at Deseret Insurance are here to help, and we can discuss your individual coverage needs and answer any questions.
Do you want to know what kind of auto insurance coverage is available? Here is some information to get you started:
Coverage for you and your car:
Personal Injury Protection (PIP) - The state of UT requires Personal Injury Protection and is also known as No-Fault coverage. This policy covers medical and rehabilitative expenses, replacement services, and funeral expenses. It may also cover lost wages if you are injured in an auto accident and unable to work.
Uninsured/Underinsured Motorist Coverage - This helps cover costs if you are hit by someone without insurance or only minimal coverage. This policy covers you if you are in a hit-and-run accident.
Collision - This policy covers repairs to your car after an accident. Choose collision coverage with a high deductible, and plan to pay routine repair costs with your own money.
Comprehensive - This policy covers physical damage to your car outside of an accident. This includes events such as fire, theft, flood, and vandalism.
Collision and comprehensive policies have a deductible. This refers to the amount you have to pay out-of-pocket before insurance coverage kicks in. Deductibles may range from $100 to $1,000. Generally, a higher deductible will lower your premium.
Collision and comprehensive policies pay out based on the current value of your car, not what you paid for it. If you have an auto loan, you may be required to carry both collision and comprehensive coverage.
Other Optional Coverage - Optional or special coverage includes extras such as towing, rental reimbursement, roadside assistance and custom equipment. None of these are required, but some may suit your needs.
How much auto insurance coverage do I need?
Utah state law requires the following minimum car insurance coverage:
Minimum Bodily Injury Liability: $25,000/$65,000
Minimum Property Damage Liability: $15,000
Personal Injury Protection: $3,000
The state minimums may not provide adequate coverage. You're on the hook when costs exceed your coverage limits. Many people opt for policies that cover more than the required minimums, particularly if they have assets (your house, your car, savings, and investments) that can be seized to pay for repairs and medical care.
Coverage for other vehicles and their occupants in an accident where you're at fault:
Liability policies cover bodily injuries and property damages when you are at fault in an automobile accident. Liability policies are made up of two components:
- Bodily Injury Liability (BIL) - This policy pays for the medical expenses of people injured in a crash in which you're at fault. You'll often see BIL policies described as two numbers such as "100/300". These numbers describe the maximum dollar amount the policy will pay for a single person's injuries and the maximum for all the injuries sustained by all the occupants of the other car. For example, a 100/300 policy will pay a maximum of $100,000 for a single person's injuries, and up to $300,000 total for the injuries of everyone in the car you hit.
- Property Damage Liability - This policy pays for damage done to the other car if you're at fault in an accident. Property liability is sometimes referred to alongside BIL as a third number, so a 100/300/50 liability package will cover up to $50,000 for damages to the other car.
Although Deseret Insurance Agency ("DIA”) is a separate and distinct company from Deseret First Credit Union ("DFCU”) the two companies share the common goal to provide first-class services to you. However, DIA and DFCU are separate legal entities and neither is responsible for the products or services offered by the other. Additionally, Insurance products offered by DIA are not a deposit, they are not federally insured, they are not obligations of DFCU, they are not guaranteed by DFCU, and they are not sold by DFCU.