Broad Form Insurance (Costs, Coverage, & Quotes)
Broad form insurance is a one-person car insurance policy, so it follows you no matter which car you drive. This type of car insurance is generally cheaper than other policies. For example, Progressive's broad form car insurance may be as low as $849 a year. However, this type of insurance also comes with a few limitations, and you will need to pay a little more for more protection.
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UPDATED: May 4, 2022
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- A broad form insurance policy is a type of policy that is only for one person, and it leaves a lot of coverage gaps
- Broad form insurance policy rates are generally low because they cover less than standard car insurance policies
- You should consider your situation and check if broad form auto insurance is offered in your state before purchasing a policy
Are you thinking about buying broad form auto insurance? If you would like to meet your state’s minimum requirement for car insurance at the cheapest cost, you might consider buying this type of coverage.
Broad form car insurance may be ideal for your situation, especially if you do not use your car that much. You may also get broad form insurance if are moving to another state and you can buy it in that state. That said, there are a few drawbacks to having a broad form policy.
Read on to know about what broad form auto insurance covers, how much it costs, and which companies offer affordable broad form car insurance. To see quotes from top companies in your area right now, just enter your ZIP code into our free tool above.
What is broad form insurance and what does it cover?
In short, broad form insurance is liability auto insurance coverage that one person can use to meet minimum state requirements.
A standard or full coverage car insurance policy may include things like collision, comprehensive, and underinsured or uninsured motorist coverage. By comparison, a broad form policy only offers liability in most cases.
Also, if you ever wondered, “Does insurance cover the driver or the car?” standard insurance covers your car. Broad form insurance, on the other hand, only covers you as a driver, no matter whose vehicle you drive.
If you get in an accident, your broad form car insurance company might pay for any damages to another person’s car or their medical bills — provided that’s your only form of car insurance.
Otherwise, any payments will come out of your standard insurance first; broad form insurance is secondary.
Now, there are limitations to broad form insurance coverage.
- You must not be more than 50% at fault in a car accident. If you are not at fault or less than 50% at fault, you will not have to pay a deductible. If you are 50% at fault or over, you a liable for the deductible and any damages.
- Broad form car insurance will not pay for any repairs to your car or your medical bills. The policy only follows you as a driver, so you will have to pay for any repairs your car needs.
- Broad form insurance only covers one driver — you. You may not receive money from a claim if someone else was driving your car at the time of the accident.
Additionally, you cannot add other coverages like collision or comprehensive to your broad form insurance policy.
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Can you get broad form insurance in your state?
Broad form car insurance policies are only available in 11 states: Colorado, Delaware, Idaho, Iowa, Maryland, Mississippi, Nebraska, Nevada, Ohio, Tennessee, and Washington.
Below is a list of minimum state requirements and liability limits for those 11 states. The data comes from the Insurance Information Institute.
Note that a figure like 50/100/40 stands for the thousands of dollars required to cover one person with an injury ($50,000), multiple persons with injuries ($100,000), and property damage ($40,000) after a collision.
|State||Minimum Car Insurance Requirements||Minimum Liability Limits for Car Accidents|
|Colorado||BI & PD liability||25/50/15|
|Delaware||BI & PD liability||25/50/10|
|Idaho||BI & PD liability||25/50/15|
|Iowa||BI & PD liability||20/40/15|
|Maryland||BI & PD liability, PIP, UM, UIM||30/60/15|
|Mississippi||BI & PD liability||25/50/25|
|Nebraska||BI & PD liability, UM, UIM||25/50/20|
|Nevada||BI & PD liability||25/50/20|
|Ohio||BI & PD liability||25/50/25|
|Tennessee||BI & PD liability||25/50/15|
|Washington||BI & PD liability||25/50/10|
In many states, broad form insurance doesn’t meet the state minimums and is not available. This may become an issue if you are involved in an accident outside your state.
How much does broad form car insurance cost?
Broad form car insurance rates tend to be lower than regular policies because this type of insurance covers less. That said, it may be hard to find car insurance companies that offer these policies.
Below is a list of top companies that offer broad form insurance, plus some sample broad form car insurance quotes.
|Company||Minimum Liability Coverage Rates||Average Liability Coverage Rates||Full Car Insurance Policy Rates|
As you can see, State Farm, GEICO, and Progressive broad form insurance are among the cheapest offerings. Dairyland broad form insurance is a mid-tier offering, and Allstate offers one of the highest broad form car insurance quotes.
Should you buy broad form car insurance?
You should only buy broad form insurance if you need affordable coverage that meets your state’s minimum requirements. Other ideal circumstances where having broad form insurance include the following:
- You have a low-value car or don’t own a vehicle.
- You have the financial resources to pay for damages to your car.
- No one else drives your car and you don’t drive with passengers.
Additionally, you may need to get SR-22 broad form insurance to comply with the law and reinstate their full driving privileges. Besides that, broad form insurance may help supplement your regular car insurance. If you can afford the extra cost, it is worth it to have extra protection.
Hopefully, we have given you a good idea of what broad form insurance is and whether it’s right for you. And if you need to see quotes from the top car insurance companies in your area, just enter your ZIP code into our free quote tool below.
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