How to Find the Most Affordable Car Insurance in Missouri

Fran
Lucy Lazarony
July 14, 2020

In Missouri, the average cost for car insurance is $1,334 per year, which is almost 7 percent less than the national average. There’s nothing grand about being average and that applies to car insurance rates as well. We bet the people in the Show Me State would like to do better. Lucky for them there are tips and strategies that will lower car insurance premiums. We’ll get to those a bit later. First, we want to take a closer look at car insurance in Missouri.

State Minimum Liability Requirements

Liability coverage helps pay for the other person’s expenses if you are at fault in an accident. Each state has minimum liability requirements for the drivers in their state. In Missouri, the minimum liability requirements are $25,000 bodily injury per person, $50,000 bodily injury per accident and $10,000 property damage per accident.

The average cost of this minimum liability coverage is $519 a year.

A More Comprehensive Policy Costs More

In Missouri, if you have an auto insurance policy with collision coverage, comprehensive coverage and $1,000 deductibles the average annual cost is around $1,169 a year. Collision auto insurance is coverage that helps to repair or replace your car if it’s damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive auto insurance covers events that aren’t covered by collision coverage. These events include theft, fire, vandalism and damages from weather such as a tornado, a hurricane, a hailstorm and a windstorm.

If you have a loan on your car, your lender will require that you carry both collision coverage and comprehensive coverage.

A deductible is the amount you need to pay before your insurance company begins to pay for damages to your car or losses. Both collision coverage and comprehensive coverage require deductibles.

Choosing a high deductible is one way to lower your insurance premium.

Uninsured Motorist Coverage

Missouri requires drivers to have uninsured motorist coverage of $25,000 bodily injury per person and $50,000 bodily injury per accident.

Uninsured motorist coverage helps pay for damages caused by a driver who doesn’t have insurance.

Missouri Is an At-fault State

When it comes to auto insurance, Missouri is an at-fault state. This means Missouri drivers are responsible for any damage they cause to another vehicle and must buy PIP, personal injury protection. It is an insurance adjuster who determines who is at fault in an accident.

How to Save Money on Car Insurance

Now it’s time for a roundup of money saving tips on auto insurance. Use as many as you can to save money.

Be a married motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married motorists pay less for auto insurance than singles. In Missouri, married motorists save $75 a year on car insurance.

Have a good credit score. Insurance companies have been using consumer credit data to assign risk pools and set policy rates since the mid-1990s. Drivers with good or excellent credit pay less for auto insurance. Drivers with no or poor credit pay much more for insurance.

In Missouri, a driver with excellent credit saves $1,788 each year on car insurance rates compared with a driver with bad credit. Looking for a way to lift your credit score and lower your auto insurance rate? Pay off past due accounts, pay down debt, and stop taking on new debt. All these things will help your credit score.

Be a responsible driver. Being a safe and responsible driver will help you to lower your auto insurance rates. In Missouri, a driver without a recent at-fault accident pays 29 percent less on car insurance. So follow the rules of the road and save money on your car insurance. Break a few rules and things get expensive real quick. In Missouri, car insurance premiums rise 27 percent after a DUI, 29 percent after an at-fault accident and 19 percent after a speeding ticket. It looks this way in dollars and cents. In Missouri, a first, minor, at-fault crash increases your car insurance premium by $528 each year. And a DUI raises the car insurance premium by $491 a year. So follow the traffic laws and you’ll avoid the pricey penalties. And if you’ve been a good driver be sure to ask your car insurance company for a good driver discount. You’ve earned it.

Pay less often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Premiums are lower when you pay just once or twice a year.

Bundle your policies. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Insure more than one vehicle. Insure more than one car with the same auto insurance company and you’ll save money on your premiums.

Spend less on older cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision and comprehensive coverages any longer.

Check out memberships. Members of some professional organizations and affiliates get discounts on car insurance. So open up your wallet and see what savings you can find.

Check car features. Having certain anti-theft and safety features on your car will save you money on your car insurance. Check with your insurance company about your car’s features and see what you can save.

Be a lady driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Choose a high deductible. Choosing a high deductible will help to lower your auto insurance premium. Just be sure to put the deductible amount in a small emergency fund. That way the money will be there if you should need to file an insurance claim.

Check for discounts. The good driver discount was already mentioned. But veterans and students are eligible for discounts as well. So reach out to your auto insurance company if you qualify.

Stick with insurance. You will pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your insurance coverage and save money.

Keep the mileage low. Love to drive and drive? You’ll pay for the miles you rack up with a higher car insurance bill. On the other hand, low-mileage drivers pay less for car insurance. So drive less and pay less on your car insurance.

Check your age. Drivers younger than 25 and older than 65 have more serious accidents and pay more for their car insurance. Drivers of the ages in-between pay less.

Pick a safe neighborhood. If you live in a neighborhood with high accident claims and auto theft, you will pay more for your car insurance. If you live in a neighborhood with few accidents and low crime, you will pay less on your car insurance. So choose a safe neighborhood and save money on your car insurance.

Be a homeowner. Statistics show that people who own homes drive more safely. So let your auto insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Shop around. One of the best ways to save money on auto insurance is to shop around. So be sure to check out car insurance quotes from several different insurance companies. SmartFinancial makes this easy to do. Just input the type of insurance you are looking for and your zip code to get started. Answer a few, quick questions and you’ll be comparing auto insurance rates in Missouri in no time.

SmartFinancial has access to more than 200 insurance companies. So you are bound to find the insurance coverage and the price that you want.

So shop smart for car insurance and drive safely along the roadways of the Show Me State.

Get a Free Auto Insurance Quote Online Now.

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