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It's the law. If you own a car in
Connecticut, you have to have insurance, but you do
have some options as to the amount and types of insurance
you purchase. It's probably smart to purchase more than
the legally mandated limits coverage, especially if
you want to protect your assets from a lawsuit. Here
are the two kinds of coverage that you have to have:
Liability - (Mandatory)
If you or someone driving your car
with your permission are found to be at fault in an
accident, that means that you are liable for any of
the damages that resulted from the accident. Liability
insurance covers the bodily injury (the ambulance, the
hospital bills, and the lost wages) and property damage
(car repairs, picket fences) costs of the innocent party.
Connecticut law says that you must purchase liability
coverage of at least $20,000 per person, $40,000 per
accident for bodily injury and $10,000 per accident
for property damage, or 20/40/10. Consider, though,
that most cars cost much more than $10,000, and that
hospital stays (and funerals) can often cost more than
$20,000. Once your insurance company has paid the limits
of your policy's coverage, you're on your own. Purchasing
additional protection, such as 100/300/50, can protect
you from a liability suit.
Uninsured/Underinsured Motorists
- (Mandatory)
This coverage takes effect when you,
relatives in your household, or your passengers are
injured in an accident caused by an uninsured, underinsured,
or hit-and-run driver. The limits for this coverage
are usually the same as the limits for your bodily injury
liability coverage. Connecticut law requires that you
buy uninsured/underinsured mtorists coverage of at least
$20,000 per person, $40,000 per accident (20/40). In
addition to the state-mandated minimums, you can also
purchase a number of optional coverages.
Optional Coverage
Basic reparations or medical
payments coverage
This optional coverage replaces formerly
mandatory coverage and provides for medical payments,
and in some cases, lost wages and funeral expenses if
you or a relative living with you are injured or killed
in an accident.
Collision coverage
Collision coverage covers damage to
your car caused by collision with another vehicle or
object or by your car turning over. There is almost
always a deductible which you must pay if you repair
or replace the car.
Comprehensive coverage
Comprehensive coveragecovers damage
to your car other than that caused by collision, including
theft, vandalism, impact with animals or birds, explosion,
flood, falling objects, windstorm and glass breakage.
As with collision coverage, there is usually a deductible.
Full glass
"Full glass" covers your
car’s glass for breakage of safety glass with no
deductible for an extra premium.
Towing
Towing coverage covers the expense
of towing your car to a shop.
Rental reimbursement
Rental reimbursement pays toward the
expense of renting a vehicle if you have a loss covered
by either collision or comprehensive coverage and your
car is disabled.
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