South Dakota Car Insurance
In some states, car insurance policy is a legal matter and without it, you would be penalized. Whether or not your state requires you to get car insurance, it is best that you enroll yourself to one because insurance as its name suggests, ensure protection for you and your property during times when you need assistance most. All US State government have different insurance requirements, if you happen to live in South Dakota, the state’s minimum insurance requirements is 25/50/25.
In case you’re wondering what 25/50/25 implies, well the first two numbers refers to bodily injury liability and the third number refers to property damage liability. It means if you had a car accident, each person involved in the accident would receive $25,000 but only up to $50,000 maximum, the amount would be released to the first two who filed for the claim. In cases wherein more than two people are involved, you would have to pay the fee out of your own pocket. The third digit implies $25,000 maximum coverage for the property damage per accident.
Being involved in a car accident can be very costly; not just in term of injuries but in property damage as well, if you have car insurance coverage, you will be well protected from financial ruin. In South Dakota, the drivers are required to have an insurance coverage that encompasses liability and uninsured or underinsured motorists. In this state, all drivers are to establish financial responsibility in alternate ways like a bond or cash deposit.
The law in South Dakota states that all drivers must have a liability insurance that covers the 25/50/25 minimum insurance requirements in the case that the insured party is found responsible for the accident. The state also mandates that your car insurance policy should also include uninsured motorist policy that will pay for the injuries caused by uninsured parties. The policy will pay out $100,000 maximum for injury to one person and a total of $300,000 for two or more people involved in the accident. This car insurance policy also covers up to injuries caused by hit and run but it will not cover for your vehicle damage.
The underinsured coverage policy, on the other hand, would kick in once the damages caused by the driver who have limited insurance policy is found responsible for the accident, for example, the coverage for one person is $25,000 but the claimant’s injuries costs is $50,000, the underinsured policy will cover for the other $25,000. Like the uninsured policy insurance, this is only applicable to injuries and property damage is not covered.
In South Dakota, the policy cancellation can only be upheld if the insured party fails to make payment for their premiums or loss of license. They have much more leeway in terms of policy renewal. In cases in which the insured party is engaged in a lot of traffic violations, or DUIs, or excessive vehicle offenses, the insurance company may revoke the renewal of their car insurance coverage, but this is only applicable as long as they present a sixty-day notice to the policy holder.
For motorists who are having a hard time looking for a company to get a car insurance policy, they may apply for the South Dakota Car Insurance Plan. They can only apply for this insurance coverage if within the sixty-day notice; they have tried but have failed to find an insurer or an insurance plan. There are state agents that can electronically submit your insurance application to the right office who administers this program. They will be the one to assign these motorists to the right insurance company. The insurance carrier will have to cover the applicant for three years and after that, the carrier would need to choose whether to extend the policy insurance. However, if this is not the case, the insured party must look for another insurer otherwise they would have to reapply to the program.
South Dakota car insurance will ensure that you stay protected from financial ruin caused by unfortunate events; it plays as your protection that will give you assistance in cases when you need it the most. Finding the right insurance company and the right insurance coverage is best done online.