Idaho may be a fairly sparsely populated place, but its roads are still traveled by millions of motorists per year. Residents of the state need to do what they can to stay safe. In addition to that, they need to make sure that they are obeying all laws regarding auto insurance. While there are several ways to show proof of financial responsibility, the easiest and most reliable option is liability car insurance. People often immediately request car insurance quotes in Idaho, but a better option is to do some research about the state's car insurance laws first.
Understanding the auto insurance requirements of the state of Idaho is helpful. However, many people still downplay the importance of having auto insurance in the first place. The truth is that it is extremely important, and sticking to the minimum requirements is a big mistake. One way to gain a better understanding of why adequate coverage is necessary is by learning more about who drives in the state. Upon learning about how many people share the road in the Gem State, most people agree that high-quality automobile insurance is an absolute must.
Who Drives in Idaho?
In 2012, the U.S. Census Bureau reports that the state of Idaho had an estimated population of 1,595,728 people. Considering how large Idaho is, it's clear that the population density is quite low. According to the Federal Highway Administration, there were 1,083,992 licensed drivers in the state of Idaho in November 2012. In other words, 67.9 percent of the population is legally allowed to drive. Gender may not be considered when insurance rates are calculated. It's still interesting to note that 539,887 people, or 49.81 percent of all licensed drivers, were female. 544,105 people, or 50.14 percent of the population, were male.
Insurance companies calculate insurance premiums based on the risk that they are taking by insuring someone. One big risk factor is youth. The younger a person is, the more likely he is to be involved in an accident. In Idaho inNovember 2012, 62,674 people, or 5.8 percent of all licensed drivers, were aged 19 or below. Older drivers tend to be safer because they have a lot more experience. Drivers aged 50 to 54 totaled 100,314 people, which equals 9.3 percent of all licensed drivers.
Auto Insurance Requirements in Idaho
Most car insurance companies that are licensed to operate in Idaho are aware of the minimum requirements. Still, a driver is wise to learn about the minimums himself to ensure that he is adequately protected. Furthermore, it is smart to exceed those minimums because they are just guidelines. In most cases, it is better to get much higher limits to avoid major financial consequences later.
One thing to note is that there is more than one way to show proof of financial responsibility in Idaho. Auto insurance is the most popular option, but residents may also obtain indemnity bonds from surety companies stating that they can pay damages within 30 days. Those who have 25 or more registered vehicles may opt for self-insurance, but they must also have a net worth of at least $500,000.
Most drivers in the state of Idaho simply obtain liability auto insurance to obey the law. Those who do must keep these minimum requirements in mind:
- At least $25,000 in bodily injury coverage for one person
- At least $50,000 in bodily injury coverage for two or more people
- At least $15,000 in property damage coverage
Although insurance companies do not electronically submit information about drivers' insurance coverage statuses, it's critical to keep proof of coverage on hand at all times. Drivers who fail to show that they have valid insurance or some other proof of financial responsibility may have to pay fines of $75 for their first offenses. They must also show proof of financial responsibility for a full year thereafter. Subsequent infractions may result in fines of up to $1,000. Drivers may even face up to six months in jail because this offense is classified as a misdemeanor.