What About Teenagers and Auto Insurance PDF Manual
One of the major events in many people’s lives is earning the privilege of driving a motor vehicle. Everyone who drives an automobile has the
responsibility not only for operating a safe vehicle in a safe manner, but also for being able to pay for injuries or damages you might cause.
Financial Responsibility Law Wisconsin has a financial responsibility law. The law is designed to make sure that any person licensed to drive in Wisconsin has enough insurance or enough money to pay for damages to others that may be caused by a motor vehicle. You can meet these requirements through a car insurance policy, a surety bond, or self-insurance. Purchasing Car Insurance Car insurance protects you if anything happens to you, your car, someone else, or someone else’s car because of you. If you buy insurance, your insurance policy must provide the following minimum liability coverage: $25,000 for death or injury of one person; $50,000 for death or injury of two or more persons; $10,000 for property damage.
The law also requires uninsured motorist coverage of $25,000/$50,000 for bodily injury only. Other Coverages to Consider Medical expense coverage pays medical expenses for you and your passengers.
Can my company charge me more just because I have a couple of tickets or was in an accident or two? Your driving record is one of the main things that your insurance company looks at when deciding how much to charge you for insurance. Your insurance company has the right to charge you extra even if you’ve only gotten one moving violation or were involved in just one accident in which you were considered more than 50% at fault. Okay, I can understand that, but now they’re trying to cancel my policy. Can they do that? Yes. Your insurance company may elect to nonrenew your policy as it expires if your accident record or moving violations exceed your company’s standards.
Tickets and “at fault” accidents can seriously affect your policy. More importantly, your driving record may affect the insurance policies of your parents and siblings too. Even if they are on a different policy, their policies may be cancelled because of your driving record. If I let my friend drive my car and he has an accident, will he be covered? As long as your friend has the owner’s permission to drive the car, he is covered under the owner’s policy. If you drive your parent’s car, your friend must have their permission before he drives the car. Your permission is not good enough.
Download What About Teenagers and Auto Insurance PDF Manual
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