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Fault-Based Auto Insurance Policy Missouri

The price and quality of auto-insurance is anchored on a number of variables. The fault-based insurance policy follows the tort system, which is widely used in the United States. By reading the auto insurance market thoroughly, you can make better purchase decisions that will save you a lot of money in the long run. Here is an overview of the things that you need to know when you buy an insurance policy under the tort system.

1. Local Companies

2. Defining Fault-Based Auto Insurance Policy

3. Difference Between Fault-Based Auto Insurance Policy and No-Fault System

4. Coverage under a Fault-Based Policy

5. Featured Local Company

1 . Local Companies

American Family Insurance
816-941-3568
7140 Wornall Rd
Kansas City, MO

Allstate Insurance Companies
314-454-3585
625 N Euclid Ave
St. Louis, MO

KC Insuranceq
(636) 337-0055
115 W Pratt Street
Desoto, MO

All Insurance No Fees
314-821-3300
12060 Manchester Rd
St. Louis, MO

877 My Insurance
314-368-9125
14575 Manchester Rd
Manchester, MO

White Jeffrey & John-Brooke Insurance
816-436-4132
8103 N Oak Trafficway
Kansas City, MO

American Family Insurance - Anthony Luebbert
816-801-8585
10010 N Ambassador DR
Kansas City, MO

American Family Insurance - Bob Trester
816-436-5200
8121 N Oak Trfy
Kansas City, MO

Liss Insurance Agency
314-432-2100
9378 Olive Blvd Ste 115
St. Louis, MO

Brooke Insurance
314-890-0090
9024 Overland Plz
St. Louis, MO

2 . Defining Fault-Based Auto Insurance Policy

A fault-based auto insurance policy stems from an insurance system born by state regulations. This is commonly referred to as the tort system. Under this system, there will always be an assumed driver that will be found at fault or responsible for an auto accident. Thus, an insurance claim is automatically engaged once the person at fault is identified. The insurance carrier of the person who caused the accident should answer for all damages, such as medical bills, property loss, and wage loss to name a few.

With this policy in place, the investigation needs to establish the culprit of the accident so that insurance claims are approved accordingly. This system ensures that anyone who incurred bodily injuries and damages as a result of an accident will have an insurance carrier to depend on.

The fault-based auto insurance system is more common in the United States than the no-fault auto insurance system. Thirty eight states adapted the tort system compared to the twelve states who have some form of no-fault insurance. More states regard the tort system as the better mechanism because it puts responsibility for damages at the hands of the driver, encouraging them to drive safely and ensure that they have an auto insurance policy in place.

3 . Difference Between Fault-Based Auto Insurance Policy and No-Fault System

The features between a no-fault policy and a fault-based auto insurance policy are roughly the same. The critical difference lies in the principles governing the responsibility of the parties in a car accident and other corresponding consequences. For the average person, the difference between the two systems pertains to "who" is accountable for the damages.

In a no-fault system, you have to cover your own medical bills and damages regardless of who caused the accident. Thus, car owners who are under this system will need to pay for a separate medical coverage called a Personal Injury Protection (PIP) on top of the basic liability coverage. Most insurance policies under the no-fault system may be structured like a health insurance and your insurance career should have the ability to pay for your medical bills.

In a fault-based system, the insurance carrier of the driver at fault should pay your medical bills and other damages. Fault-based insurance policies have cheaper premiums since you do not have to pay for a separate coverage. The insurance that you purchase covers the damages and injury to the person if you are at fault. Personal injury protection is optional under the tort system.

4 . Coverage under a Fault-Based Policy

The insurance coverage requirements under a fault-based system are different from state to state. Of course, you have the option to upgrade your fault-based auto insurance policy that will meet the basic requirements of your state. The most basic coverage is the automobile liability coverage. This is required by law to pay for bodily injury and property damage if you are at fault. This coverage protects the assets of the driver at fault as long as the insurance company can answer for the damages.

There are optional features that you can add to your fault-based auto insurance policy. Comprehensive coverage pays for damages to your vehicle from theft, vandalism, or damage by forces such as fire, flood, storms, other natural disasters, and other contingencies. This coverage is optional. However, a comprehensive coverage may be required when you apply for a car loan.

Collision coverage covers the cost of repairing your car after a collision with another car and other objects such as a tree, a deer, and more. Uninsured or underinsured motorist coverage pays for injuries or damages caused by an uninsured driver or if the insurance company of the driver at fault cannot cover the cost for your damages or injuries. You can also purchase additional medical coverage that you and your passengers may claim regardless of fault.

5 . Featured Local Company

American Family Insurance

816-941-3568
7140 Wornall Rd
Kansas City, MO
http://www.amfam.com

Read more about Fault-Based Auto Insurance Policy

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It's a new year, and it's time to get your finances in order. Why not start out by saving some money on your auto insurance? The average consumer saves up to $301 on a six-month policy after shopping around and purchasing a new auto insurance policy from one of the top companies at Ins Web.

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Related Local Event

St. Louis Auto Show
Dates: 1/27/2010 - 1/31/2010
Location: Americas Center, St Louis
St Louis, MO
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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
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Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History