Driving on Indiana roads involves a certain amount of risk every time you get behind the wheel. Auto insurance is intended to protect you and others from the costs of damages in the event of a collision, and Indiana state law requires you to purchase a minimum amount. According to IN.gov, the state minimums are $50,000 in underinsured motorists, bodily injury; $25,000/$50,000 in uninsured motorists, bodily injury; and $10,000 in property damage. The state offers an insurance plan that is offered through individual agents if you have trouble securing coverage through other plans.
The state also mandates that insurance companies must follow specific steps to cancel or refuse renewal of your policy. To refuse to renew a policy that is reaching the end of the period, a company must give you notice at least 20 days before the period ends. If you have had a policy for 60 days or more, a company cannot cancel it unless you lose your license or fail to pay. An agent, however, can cancel a new one within 60 days of its start.
Insurance companies are also responsible for filing a Certificate of Compliance if you have committed a traffic violation or were involved in an accident. This must be filed with the Indiana Bureau of Motor Vehicles. If it is not filed, you may lose your license. The form simply shows that you meet financial responsibility laws.
The state recommends that you shop around for car insurance in order to get the best rate. Rates are often determined using various details about you, such as claims history, age, marital status, where you live and any driver's training you have taken. In addition, information on the type of policy you want, the amount of your deductible and the type of car you are insuring are also used to determine your rates. While this information is provided to educate you about the state's insurance laws, it should not be considered legal advice.