Idaho Auto Insurance

The state of Idaho is a Tort state.  This means that if the state declares an individual as the cause of an accident, the named person will be required to pay all the damages which result from the accident they caused.  This will include all medical bills and vehicle repairs.  For this reason, insurance companies may encourage you to purchase more than the minimum auto liability insurance required by the state of Idaho.  If a car is financed, you will most likely be required to carry comprehensive and collision coverage on the vehicle.  Otherwise, collision, comprehensive, underinsured and uninsured motorist are not required by the state of Idaho.  Insurance companies are supposed to offer you this coverage at the time you inquire about insurance.

Insurance companies in Idaho do not have to cover members of your household if they are not listed on the policy.  Insurance companies in the state of Idaho are allowed to exclude individuals from the policy.  These exclusions are legal.  Even though you do not have to list everyone on the policy, the company may request it.  If you do not comply with the company’s request, they can deny the claims on any persons not included on the policy.  Any exclusion must be either stated in the policy or included in an endorsement attached to the policy.

If you allow your auto insurance policy to lapse in the state of Idaho, it is the same as driving without insurance.  Driving without insurance is a crime in Idaho and will result in the loss of your driver’s license.

In the state of Idaho, the insurance company is allowed to check out your personal credit history when offering you insurance and setting your premium rates.  It can also be used to determine if you will be allowed to make monthly, quarterly or semi-annual premium payments.  Poor credit ratings may result in you being required to pay the entire year’s premium at the beginning of the policy term.  Maintaining a good driving record and paying your bills on time may reduce your premiums.

The average insurance premium in Idaho was about $577.00 per year as of 2006.  Idaho was ranked as having the third lowest premium average in the United States.  There are several state approved insurance companies doing business in the state of Idaho.  The following companies are the top 20 licensed auto insurance companies in Idaho in order of ranking by sales:  State Farm Mutual Auto Insurance Company, Farmers Insurance Company of Idaho, Farm Bureau Mutual Insurance Company of Idaho, Safeco Insurance Company of Illinois, Progressive Northwestern Insurance Company, Allstate Insurance Company, American Family Mutual Insurance Company, GEICO General Insurance Company, Mid Century Insurance Company, Progressive Direct Insurance Company, Mutual of Enumclaw, Allstate Property & Casualty Insurance Company, USAA, Liberty Mutual Fire Insurance Company, Allstate Indemnity Company, Allied Property & Casualty Insurance Company, Viking Insurance Company of Wisconsin, and USAA Casualty Insurance Company.

Things that can help you reduce the cost of your insurance premiums include a clean driving record, the type of vehicle you choose to drive as well as the number of miles you drive per year.  The fewer miles you put on your vehicle each year, the lower your chances are of being involved in an accident.  The reduction in accident risk can translate into a reduction in premiums.  Furthermore, a clean driving record reduces your risk of an accident. 

It will be more expensive to insure a luxury car or a sports car.  You should also keep in mind that insurance premiums will be higher on vehicles which are a high priority for thieves.  The cars that made the top 10 stolen vehicles in Colorado are:

1. 1988 Toyota Pickup
2. 1992 Chevrolet C/K 1500 Pickup (full size)
3. 1993 Honda Accord
4. 1997 Ford F150
5. 1988 Honda Civic
6. 1989 Toyota Camry
7. 1995 Chevrolet Blazer
8. 1988 Ford Ranger
9. 2001 Pontiac Grand Am
10. 1997 Chevrolet Cavalier

Safety devices such as anti-lock brakes side air bags, automatic seat belts and daytime running lights may also reduce your premiums along with anti theft devices like an alarm system and global positioning systems.  Don’t forget to maintain a good credit record as the insurance company looks at this to determine how likely you are to pay your premiums on time.  Prior accident claims will also be a red flag to insurance companies especially if there are several claims on your past record.  The amount of your deductible is also a key factor when determining insurance rates.  The higher your deductible is, the lower your insurance rates will be.