The Missouri DOR recognizes and explains the following types of auto
- Motor vehicle liability insurance
- Self-insurance ID card issued by the Department of Revenue. To be
self-insured, you must have more than 25 vehicles and be able to show
you can and will pay for damage caused by your vehicles
- A surety bond, certificate of deposit of money, or other types of
securities in the amount of $60,000 filed with the Department of
- A real estate bond filed with the Department of Revenue
No matter the type of required insurance you elect to employ for
yourself or your company, proof of insurance must be kept with your or
your designated drivers at all times.
Insurance companies also offer various types of auto insurance, and
Missouri has provided consumers with a handy educational auto insurance
guide to assist them in the selection process. According to the
guide, the following types of auto insurance coverage are available to
Liability Coverage – This coverage will pay for damage
you cause to another person or to another person’s property.
There are several types of liability insurance:
- Property Damage Insurance
- Uninsured Motorist Insurance
Comprehensive Coverage – This coverage will pay for
damages to your car that result from theft, vandalism, fire,
weather-related incidents and more.
Collision Coverage – This coverage will pay for
damage to your car if it is in a collision, regardless of where the
Underinsured Motorist Coverage – This coverage will
pay for medical expenses incurred by you or your passengers in the
event that the driver at fault is underinsured. This applies to
medical expenses only.
Medical Coverage – This coverage pays for medical
expenses incurred if you or one of your passengers is injured while in
your car. It also pays the medical expenses if you or a family
member, as a pedestrian, is struck by a car.
Force Placed Coverage – This coverage can be
‘forced’ upon you by a lender in order to protect their interest in the
investment. It is advisable to purchase insurance on your own, as
Force Placed coverage is quite expensive.
Optional Coverage – Coverage that is convenient but
not required is called Optional Coverage. This includes towing,
rental, roadside assistance and more.
Discuss your coverage options with your insurance agent. Remember
– if you are looking to save money, auto insurance is not an area in
which you want to cut-corners! Maintain auto insurance coverage
that provides the most protection and peace-of-mind for you and your