Cambridge Car Insurance

If you are looking for Cambridge car insurance, before contacting your local car insurance agents for Cambridge car insurance quotes, it can be helpful to know the minimum insurance requirements so that you can try to stay as close to them as possible. After all, the less coverage you have, the less you have to pay on your auto insurance premium. The tricky part is to find that balance between risk and saving money. Although I can’t tell where that point is (you yourself know better than anyone else), I can tell you the amount of car insurance in Cambridge that your really need.

The only type of coverage that the state of Massachusetts requires drivers to have is liability insurance, uninsured/underinsured motorist coverage, and PIP. If you finance or lease your car, you most likely will also have to get “full coverage” (collision and comprehensive insurance).

When shopping for car insurance in Cambridge MA you must have liability coverage in the form of 20/40/5 (you’ll often see liability coverage in this form). In other words, you are required to have $20,000 on bodily injury liability for one person in an accident, $40,000 in bodily injury liability for all people in an accident, and $5,000 in property damage liability. Keep in mind that liability coverage does not protect you, but those around you if you are in an accident in which you are found to be at-fault (guilty). Bodily injury liability pays for the medical expenses, income lost, and/or pain and suffering. Property damage liability covers damage done not only to other cars, but fixed property such as telephone polls, bus shelters, or fences. Is it all right to have the minimum amount of coverage? If you think that you’ll have enough money on hand to pay for serious expenses in the future, then yes, you can afford the minimum. Insure.com recommends that you have liability coverage in the form of 100/300/50. What liability coverage you end up having (whether it is close to the rock bottom of 20/40/5 or 100/300/50) depends mightily on how much risk you think you can afford to have.

Aside from liability coverage, in Cambridge, as well as any other place in Massachusetts, you are required to have uninsured/underinsured motorist coverage. Although less than 10% of drivers in Massachusetts are uninsured, if you happen to get into an accident with another driver who is found at fault, and has no insurance to pay for your medical expenses, it can be very difficult getting any money from them. This is where uninsured coverage comes in. Underinsured coverage is the same. The only difference is that it applies if the at-fault driver does not have enough liability coverage to pay you. Who does this coverage protect? You and your passengers.

The last type of car insurance Cambridge MA that you are required to have is $8,000 in Personal Injury Protection (PIP), which will pay the first $2,000 in medical bills and more up to $8,000 if you have no health insurance. Aside from paying your medical bills, PIP pays 75% of income lost and gives an allowance for replacement services (it gives you money to hire people while you’re injured). Who is covered under PIP? A vehicles driver and his or her passengers.
Liability coverage, uninsured/underinsured motorist coverage, and PIP. That is all that you are required to have by law, assuming you don’t finance or lease your vehicle. When shopping for a Cambridge car insurance quote, how much more than the minimum you buy depends on you.

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