Washington Car Insurance Rates
Washington may be the Evergreen State, but Washington car insurance rates are not ageless and evergreen. While some rates are fixed, rates of other coverage types vary. Discounts given by different companies also change according to circumstances or by policy.
Washington State Auto Insurance Rate Components:
Fixed and Variable Terms
The fixed terms are the liability minimum that every policy is required to contain under the laws of the State of Washington. The variable terms are the coverage options which can be waived in writing, and the discounts that each insurance company agrees to give based on their risk calculation.
All car insurance policies have to carry a minimum coverage of $25,000 for the injured driver, $50,000 for the injuries of all persons involved and $10,000 for property damage like damage to the vehicles, goods and assets. These legally required coverage options cannot be waived in writing under law. You may choose to pay for a higher insurance coverage for property and bodily injury because these will be your biggest expenses in the event of an accident.
Besides these basic coverage options there are many other coverage options that Washington car insurance policies contain. These coverage options are variable and you can waive them in writing to lower your premium. Here are some coverage options that are not necessarily a requirement for all Washinton auto insurance policies:
1. Medical Payments Coverage - Medical payment is a coverage option that can be waived by you especially if your health insurance covers accidents.
2. Personal Injury Protection (PIP) - PIP covers funeral expenses, wage loss and such incidental expenses. You can waive PIP in writing to lower your premium.
3. Towing/Labor - Towing and labor coverage options can be waived if paying a premium will reduce your coverage for bodily injury and property damage.
4. "No Fault" Coverage - No fault coverage is another variable coverage option available to car owners in Washington.
5. Collision/Comprehensive Coverage - Collision and comprehensive insurance are coverage options that can be waived especially if the car is old or the value is less than $3,000.
How Washington Car Insurance Rates Are Decided
Insurance companies decide their prices in Washington State by observing the habits of the drivers in the state. They divide the money based on car accidents and settlements. Insurance rates are periodically reduced. In Washington State, there was the first decrease in car insurance rates in the year 2007 since the year 1999. Rates are set according to the claims risk level and the geographical location.
Your best rate will depend in a large part on the number of discounts you can get and the number of different insurance companys that you compare. It makes little sense to blindly accept the terms of an insurance policy and pay Mercedes’ rates for a Ford or to simply choose the first rate that happen to receive. Here are some of the different things that the insurance company will take into consideration when determining your eligibility for rate discounts:
- The make, model and year of manufacture of your car can get you a discount.
- Your age, marital status, place of residence, profession and driving history are major factors that can get you discounts.
- Also, Washington State Car Insurance Companies give a discount based on your car usage. The less you drive, the less you pay.
Start Comparing Washington Car Insurance Rates Now!
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