If you are an Arizona residents, the car insurance regulations that govern your policy are pretty straightforward. This generally makes the state's premiums fairly cheap, so make sure that you're getting the best deal possible.
This guide:
• Explains Arizona car insurance regulations and requirements
• Describes how the state's auto insurance rates are decided
• Shows you how you can save money by comparing multiple quotes
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Brief overview of the state's insurance laws
Arizona is a tort state, which means that as a resident you're financially responsible for the damage and injury you cause in an auto accident. To drive a car in Arizona, you're required to show proof of your financial responsibility.
Although you can post a bond or a certificate of deposit for $40,000, and thus take care of your "financial responsibility" requirements, most people opt instead to purchase auto insurance.
One thing that makes insurance fairly inexpensive in Arizona, are the state's liability minimums: 15/30/10 (That's $15,000 per person for injuries you cause to the other party, up to $30,000 for all, and $10,000 for damage you cause to the other party's property.)
Of course, these are low minimums, and you should consider higher levels of coverage, particularly if you have assets to protect.
Arizona auto insurance companies will also offer optional policies such as medical payments, collision, comprehensive, and uninsured and underinsured motorists bodily injury coverage.
Sidebar Arizona residents may be able to save on policy premiums by visiting Electric Insurance. This A+ rated company's policies are available only to those drivers whose credit and driving records could be described as being at least good.
For better or for worse, the price of insurance premiums in AZ is decided by the behavior of the state's drivers as a whole. Arizona auto insurance companies take the cost of insuring all drivers (this includes settlements and legal fees) and divide it up among everyone.
But the cost isn't spread around evenly. Instead, the percentage you pay is decided by things like your driving record, your age, where you live, and the kind of car you drive.
Of course, not all auto insurance providers figure their percentages the same way. So they'll charge different rates on the same driver.
What this means for you, is that you need to shop the different rates (and they'll be very different!) for the best deal. It's the fastest easiest way to save on your policy.
Where you can get Arizona auto insurance quotes.
The following web sites will help you find great local car insurance quotes: (these links will open in a new window)
• ComparisonMarket is the best insurance shopping service on the Internet, and the place where you're likely to save the most money.
Then subscribe to our free email course. You'll learn the simple step-by-step process that will help you locate, evaluate, and purchase the best possible auto plan for you and your family. (Or your small business).
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