Bellevue Car Insurance
Bellevue, Washington is a commercial and residential hub which makes it a wonderful place to work, live and play. As the second largest city center in the state, the City of Bellevue that's often called "the Eastside" has been ranked 13th on the list of the Top 100 Places to Live.
While the City of Bellevue is a metropolitan area, it's one city that receives both a poor walk score and transit score.
This means that it's a car-dependent city where most errands and commutes require a car. If you own a car, it's your responsibility to carry at least a minimum amount of insurance.
Is auto insurance required in Bellevue?
In Bellevue and every other city in the state of Washington, you're required by law to get insurance or prove that you have the means to self-insure when you drive a vehicle registered in Washington State.
Proof of financial responsibility is mandatory for anyone operating a vehicle with 4-wheels. You don't have to submit proof for the following vehicles:
- Motorcycles
- Mopeds
- Horseless carriages
- Motor-driven cycles
- State-owned vehicles
How can you prove that you're financially responsible?
The most common way to prove that you're financially responsible for damages that you cause while you drive a car is to buy a liability auto insurance policy.
If you choose to buy insurance, you need to buy your coverage from a company that's licensed to sell auto insurance and other personal lines products in Washington State.
If you'd rather prove that you have the financial resources to pay for injuries and damages on your own, you can file a different type of proof. Each requires either cash or property to secure bonds or self-insurance certificates.
Here are your options to comply with the state law without buying insurance:
- File a liability bond for at least $60,000 that's issued by a surety bond company authorized to do business in Washington
- Apply for a certificate of deposit by depositing at least $60,000 in the form of cash or collateral. Your application must be approved before a certificate is issued
- Apply to self-insure if you own more than 26 vehicles in your name
Why is buying insurance the best option for the average driver?
If you have the cash or the collateral available to file a bond or to apply for a certificate of deposit, you might wonder just why you should pay premiums every year for coverage you hope you never have to use.
While you do spend money on premiums even if you don't file a claim, auto insurance offers you financial protection that bonds and certificates don't.
When you buy an auto insurance policy, you're entering into a two-sided insuring agreement.
You agree to pay your premiums and the insurer agrees to pay claims that you present if you have the appropriate coverage. Instead of putting up your money and property, you're protecting it. After all, you never know when you might have a catastrophic loss resulting in serious damages.
How much insurance are you required to carry?
If you want to avoid wage garnishments or asset liquidation, buying insurance is the answer.
By law, you're only required to carry a minimum amount of liability insurance to cover third-party damages that you're liable for. Any other coverage is deemed optional as far as legislation is concerned. Here's a breakdown of what's required by the state:
- Bodily Injury Liability: $25,000 per person, $50,000 per accident
- Property Damage Liability: $10,000 per accident
Why should you buy higher limits of Bodily Injury?
Washington State may have higher limits than others in the nation, but the minimum requirements are still rather low.
If you really want to protect your financial future, it's best to raise your Bodily Injury limits so that minor injuries don't land you in court. After all, when your limits are exhausted, victims in Washington can seek compensation by suing you.
Looking at the cost of health care in Bellevue might help you see how important higher limits are.
While the city has a high livability score, the only place it scores poorly is in the cost of living. Based on data, the healthcare index in Bellevue is very high. In fact, the cost of care is about 19% higher in Bellevue than the average nationwide.
Since it can cost an average of a 3-day hospital stay is around $30,000, you can imagine how much it would cost if someone suffers serious injuries that require long-term treatment. This is why you should consider raising your limit to something that'll adequately offer you protection.
Should you raise your Property Damage limits?
The Property Damage requirement is also fairly low when you consider the value of cars and properties in Bellevue and surrounding areas.
The average cost of a new car is around $32,086 nationwide. If you total just a single vehicle, even one that's depreciated in value, you're looking at a huge out-of-pocket expense if you stick with the minimums.
If you hit multiple vehicles or a residential home, you could get stuck paying for a loss for years. After all, the average cost of a home in Bellevue is $650,000, one wrong turn could result in a scenario that changes your financial future for life. This is the key reason why $10,000 in property damage isn't enough.
Are there other types of coverage available?
Another reason to buy auto insurance is because of the additional types of first-party coverage that you can add to your insurance policy. You're only required to have third-party coverage, but it's in your best interest to buy financial protection that covers your bills too.
Here's a list of the options that's available to you:
- Medical Payments
Covers the cost of immediate medical expenses or funeral expenses. Paid to you no matter who's at fault for the loss. Limits pay on a per person and not a per accident basis. This coverage is only offered by some Washington insurers.
- Personal Injury Protection
Pays for hospital costs, lost wages, disability, and services needed for daily living activities. Personal Injury Protection is a no-fault coverage but doesn't limit your right to sue in the state of Washington. It pays for you, your household members, non-household passengers and your drivers.
- Uninsured Motorist
Pays for your medical and hospital costs when you're in an accident with someone who doesn't have insurance. It also pays if the other driver has a limited amount of insurance and the limits are exhausted. Many companies require the uninsured driver to be at fault for UM to pay.
- Comprehensive
Physical damage coverage that pays for your vehicle repairs when the car is damaged in a loss that doesn't involve a collision. Some perils covered under comprehensive include fire, theft, flood, falling objects, explosion and contact with a live animal.
- Collision
Physical damage coverage that pays for your covered vehicle when it's damaged after it collides with an object. Most of the time your collision will pay when you're at-fault. Collision coverage also pays for vehicle rollover losses.
Do you need to buy coverage to protect against uninsured drivers?
Uninsured motorists are a huge problem all around the country.
In Washington State, about 16.1 percent of licensed drivers don't have any type of financial responsibility. That equates to about 1.12 million drivers if you look at the state population.
If you're looking at Bellevue alone, around 21,500 residents of the 134,426 residents in the city don't have insurance.
Since you're vulnerable to an accident, it's wise to carry Uninsured Motorist protection. Carrying at least a minimum amount of protection will give you peace of mind and a benefit to lean back on if you suffer injuries in a loss.
Without it, you could be in for a long journey of filing claims that could be denied through your health insurance provider.
If you're looking for the most affordable car insurance policy in Bellevue, the first step is to shop around. Getting free quotes from carriers will help you see which companies have competitive rates and which don't. The fastest way to get quotes for coverage is to use an online rate comparison tool.
Enter your zip code, type your VIN and vehicle information, select the coverage options that you'd like, and get instant quotes in a matter of minutes.
In fact, you can start your search right now using our FREE quote tool below! Browse through coverage options from the top providers in your area and choose the plan that's best for you!