There are many factors that go into choosing a place to live, including schools, economic growth, cost of living, and overall quality of life. Columbia, Missouri is one city that seems to have it all; as a result, many people are settling in Columbia.
But no matter where you end up, insurance is one thing you will always need. Like all states, Missouri has its own requirements when it comes to insurance.
What Are Columbia Insurance Requirements for Cars?
Missouri follows a tort system for car insurance, meaning that fault is assigned in an accident, so liability coverage is required:
- Bodily Injury Liability: $25,000 per person/$50,000 per accident. This covers the medical bills of up to $25,000 per person and $50,000 per accident if you are at fault.
- Property Damage Liability: $10,000. This covers any property you damage up to $10,000.
- Uninsured Motorist: $25,000 per person/$50,000 per accident. Most states don't require this coverage, but your Columbia insurance quotes will include it; it covers medical bills in the event you are the victim of a hit and run or are in an accident where the at-fault driver is uninsured.
These minimum amounts are starting points and may not cover all the costs incurred if you cause a serious accident. For minimum coverage, Missouri residents can expect to pay about $615 a year. You will also want to consider comprehensive and collision insurance as well; this insurance covers repair or replacement costs to your own vehicle.
What Do I Need to Know About Columbia Insurance for Homeowners?
Homeowners insurance is not required by law like auto insurance is, but if you have a mortgage, your lender will require that you have homeowners insurance. Luckily, your Columbia insurance quotes will more than likely be less than the national average, since Missouri isn't prone to natural disasters and Columbia has a low crime rate. A basic HO-3 policy is the most common type, and covers your home against 16 named perils, including fire, burst pipes, falling trees, and more.
Columbia has a large student population, so many residents rent their homes. Renters insurance is not required, but it's still smart. For under $200 a year, renters insurance will insure your personal belongings against the same perils a homeowners policy would. Not only that, but it also covers liability in the event someone is injured in your home and sues you.
Finding Columbia Insurance Quotes
As with any other big purchase, comparison shopping for your Columbia insurance is important to help you save money and get the best coverage for the lowest price. Netquote.com takes the hard work out of this by providing multiple Columbia insurance quotes within minutes. This site also has a wealth of information on all types of insurance, so you'll know exactly what you do or don't need when building your quote online.