Cheapest Auto Insurance In Utah – Before you hit the road in Utah, you need to make sure you’re covered in case of an accident. And if you’re getting a loan or leasing your car, you might consider adding gap insurance for an extra layer of protection.
So you’ve decided you need gap insurance in Utah. But where should you buy such a policy? On average, Utah drivers who lease vehicles pay $199 per month for car insurance. Below are some of the auto insurance companies in the state with the most common auto insurance rates.
Cheapest Auto Insurance In Utah
The rates below are generated from a proprietary database of millions of unique car insurance quotes and represent the average monthly cost of car insurance for drivers of leased cars that often have gap insurance coverage.
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Many other major insurance carriers offer affordable gap insurance policies, which you can learn more about in this comprehensive guide to insurance coverage gaps. Progressive, Allstate and Liberty Mutual are some of the industry heavyweights that help drivers with gap coverage.
Before deciding which insurer you want to work with, compare insurance quotes from different companies––for free and in minutes––in .
Once you drive your new car off the lot, it’s “used,” meaning the original cash value has already depreciated. Gap insurance covers the “gap” between the actual cash value of your car and the amount you owe on your car loan. If your car is totaled or stolen, gap insurance covers the gap between your insurance cover and what you still owe the bank.
Your lender may require gap insurance in your finance agreement as an additional layer of car insurance coverage. This is especially useful for new vehicles that are leased, loaned, luxury or long-distance described by one of the four Ls. Additional coverage can be purchased from your insurance broker or through a waiver agreement with a finance company.
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There are many situations in which Utah drivers should choose gap insurance. Most obviously, you should buy it if you work with a lender that needs it. You should also consider purchasing gap insurance if your lease term is long (over 60 months) or if you’re making a low down payment (under 20 percent).
Your loan structure and your loan balance aren’t the only factors—your driver type matters, too. If you’re a long-distance driver, always heading to Zion National Park or Bryce Canyon on the weekends, you should consider gap insurance. The same can be said if you drive a luxury vehicle; They decrease rapidly.
Gap insurance is considered an optional form of coverage in Utah and may be referred to as “loan/lease” coverage in the state. This is a recommended addition for drivers who owe more than their car is worth.
In Utah, auto insurance limits are $25,000 in bodily injury coverage per person, $65,000 in bodily injury coverage per accident, and $15,000 in property damage per accident. It’s standard though it’s a good idea to carry over this limit in case of an accident. Additionally, it may be necessary to add gap insurance beyond this requirement.
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How much gap insurance you need depends on the vehicle you drive and the nature of your lease agreement. If the actual cash value of your car is low and your outstanding loan amount is high, you need a strong gap insurance policy. You can cancel this policy once you pay off your loan or the total amount owed is close to the value of the car. This may take many years.
Gap insurance is considered a supplement to your auto insurance policy in Utah. This takes the form of a GAP (Guaranteed Asset Protection) waiver, which is an agreement to waive the driver’s outstanding debt if the car is totaled or stolen. This can be purchased from a dealer licensed to sell the waiver or from your insurance company.
The Utah Department of Insurance encourages drivers to carefully read and understand the GAP waiver terms before purchasing and to request a copy of your signed agreement. For more questions about gap insurance in Utah, contact the Property and Casualty Division of the Utah Department of Insurance.
Buying gap insurance through your insurance company is cheaper than buying it through a car dealership. Through an insurance company, gap insurance typically costs $5 a month. Meanwhile, distributors charge about $50 a month—a significant difference.
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There are also some third-party companies that offer stand-alone gap insurance policies, although these are quite expensive. Generally, it is best to purchase gap insurance from the same company that you purchase your primary car insurance policy from.
If you’re a driver in Utah and don’t want to pay more for your auto insurance policy, you should use it to compare quotes. With, you can research only the policies you need and find out how much you will pay if you add gap insurance to your policy. The site’s accessible interface makes it easy to find the right policy at the right price.
Data scientists analyze more than 90 million quotes provided to car insurance applicants in a proprietary database to calculate the average premium displayed on this page. These premiums are actual quotes from 50+ partner insurance companies in all 50 states and are averaged in Washington, D.C. Quotes. Represents the median cost of quotes across a given coverage level, driver subset and geographic area.
Unless otherwise stated, quoted rates reflect the average price for drivers between the ages of 20 and 70 with a clean driving record and average or better credit (credit score of 600 or higher).
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Quotes for Allstate, Farmers, GEICO, State Farm and USAA are estimated based on the Quadrant Information Services auto insurance rate database.
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You can also find cheap SR-22 insurance in Utah from Farm Bureau, USAA, and many other companies we researched. Remember to compare rates before you buy, as insurance costs can vary by company, especially for high-risk drivers.
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We found the cheapest SR-22 insurance companies in Utah by calculating average rates for drivers with a suspended license, DUI or reckless driving citation.
Our sample driver is a 30-year-old male driver of a 2017 Toyota Camry LE with average credit who has a policy with the following limits:
Some carriers may be represented by affiliates or subsidiaries. The rates provided are examples of insurance costs. Your actual quote may vary.
The SR-22 is a form your auto insurance company files with the state that proves you’re covered, it’s not actually a type of auto insurance. In Utah, when you have an SR-22 on your policy, you must have at least the following coverage:
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Having an SR-22 can increase the cost of your car insurance because it means you’ve been caught driving without insurance or have been convicted of a serious traffic violation, such as driving under the influence or careless driving. You’ll pay the increased rate until the SR-22 is required (you’ll also pay a small filing fee with the SR-22).
In Utah, drivers must maintain an SR-22 for three years. It could take longer if you let your coverage lapse. And if your SR-22 coverage is missing, you will