Car Insurance : Utah

Posted & filed under States.

Utah QuarterUtah Auto Insurance Requirements

Utah has stringent auto insurance and financial responsibility (“operator’s security”) laws for both private and commercial vehicle owners. Minimum auto insurance coverage requirements in Utah are mandated by state law and the Utah Insurance Department. The following minimum coverage is required on every registered vehicle, except as noted below:

Utah Auto Insurance Requirements(Source: Utah Insurance Department)

Driving without the mandatory liability insurance in Utah can result in fines ranging up to $400 for the first offense, and suspension of driving privileges. Subsequent offenses are subject to higher fines, reinstatement fees, and jail time.

The Utah Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.

Alternatively, drivers not wishing to carry basic liability insurance in Utah may deposit cash or securities in the amount of $160,000 with the state treasurer, or obtain a surety bond, and provide receipt of same to the Bureau of Motor Vehicles, who will issue a certificate of financial responsibility in lieu of an insurance card.

Factors Influencing Car Insurance Premiums in Utah

Getting a quote for cheap car insurance in Utah requires some research and rate comparisons between different insurance companies, even though Utah ranks as one of the least expensive states for car insurance costs. Some factors that impact insurance rates in Utah include:

– Utah is a “no-fault” state, and requires PIP insurance
– Vehicle repair costs are generally less expensive in Utah than elsewhere
– Overall accident fatality rates are lower than national averages
– A much lower percentage of uninsured drivers compared to national averages
– Auto insurance fraud
– Vehicle theft rates above national averages

The average auto insurance premium for residents in Utah is $1,272 in 2011; the national average is $1,790.

Tips for Obtaining Cheap Car Insurance in Utah

– If you’re over 55, take a state-approved defensive driving course for a policy discount
– Several insurance companies offer “pay as you drive” car insurance for low mileage drivers in Utah
– Maintain a good driving record
– Bind multiple policies (homeowners, life, auto) with the same provider
– Maintain a good credit score
– Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
– Discuss affinity discounts with your insurance provider
– Drop comprehensive and collision insurance on older vehicles

Utah Statistics

Auto Theft: Utah has a relatively high vehicle theft rate, but it has been decreasing (as is the case in most states) consistently over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:

Utah Auto Theft Statistics(Source: Auto Thiefs)

Automobile Accidents: The total vehicle miles traveled in Utah has remained almost constant in recent years, but vehicle accident fatality rates have declined. Utah is below the national average in numbers of deaths in car crashes.

Utah Auto Accident Fatality Statistics(Source: National Highway Traffic Safety Administration)

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