Where Car Owners Pay the Smallest Insurance Premiums
Car owners in St. George pay the cheapest insurance premium in Utah at $1,029 per year, which is around 10% lower than the state average of $1,148 per year, according to an analysis.
The study based its findings on 32 cities from the estimated premium for a single, 30-year-old man who owns a Toyota Camry and has a good credit score without any driving infractions. The same person in Kearns would pay 8% more than the state average, or $1,244 per year. If you’re looking for the best auto loan rate in Utah, you might as well choose a loan with insurance as the penalties can be steep for uninsured drivers in the state.
Based on the study’s sample driver, the average insurance premium in each city would have coverage for body liabilities worth $50,000 per person and $100,000 per accident. The state requires at least $25,000 per person and $65,000 per accident, so choosing a higher limit than the minimum threshold is always a good idea. This reduces the risk of being sued if your insurance coverage isn’t enough to pay for damages.
Utah also requires at least $15,000 per accident coverage for property damage. The study’s limit amounted to $50,000, aside from $3,000 for Personal Injury Protection that’s also the same with the state’ minimum requirement.
Cheap and Expensive Cities
The analysis also listed Logan and Kanab as the two other cities where average annual premiums cost $1,078 and $1,090, respectively. By contrast, the median rate in West Jordan and Riverton costs $1,210. These two cities rank next to Kearns in term of expensive insurance premiums.
Salt Lake City landed on the fourth spot among the most expensive cities. It’s quite surprising that the state capital didn’t rank on top, as the city is the most populated area in Utah. Still, the annual premium costs $1,205 on average, according to the study.
What Happens If You Drive Without Insurance?
Don’t think about foregoing insurance that meets the state’s minimum coverage. Insured car owners appear on the Insure-Rite registry. If you get flagged on the road for whatever reason, a police officer will know sooner or later that you don’t have insurance. Your driver’s license and vehicle registration can be revoked and reinstating them can be time-consuming and expensive.
First offenders will need to pay at least $400 as the penalty for driving without insurance. The fees for reinstating a suspended license and registration costs $30 and $100, respectively. Penalties for repeat offenders will cost at least $1,000, and your driving privileges can be permanently revoked if you don’t comply with the mandated insurance requirements.
Overall, younger car owners in Utah, particularly men, should remember that their actual insurance premiums can be higher than the quoted figures even if they have a good credit score and driving record. If you plan to borrow money for a vehicle purchase with insurance, shop around for the best auto loan rate in Utah by consulting at least three different lenders.