Insurance Delaware: A Guide to Auto & Home Coverage
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Auto and homeowners insurance play a big role in protecting your two biggest assets: your home and car. Delaware is a northern coastal state that can experience a wide range of extreme weather, such as snowstorms and hurricanes, threatening these assets.
This is why you need to fully understand the ins and outs of Delaware insurance. We've provided a comprehensive overview of auto and home insurance in Delaware so you can make an informed purchasing decision.
Understanding Delaware's Auto Insurance Requirements
As in most states, all vehicles registered in Delaware must carry a minimum amount of auto insurance. You must have two types of insurance coverage at a minimum:
- Delaware liability insurance
- Personal injury protection (PIP)
Minimum Liability Limits: What You Need To Know
The minimum coverage is a great place to start, but Delaware also requires these insurance policies to cover a certain dollar amount. To follow the law in Delaware, you must meet the minimum coverage limits:
- $25,000 in bodily injury liability coverage per person
- $50,000 in total bodily injury liability coverage per accident
- $10,000 in property damage liability coverage per accident
With this 25/50/10 split, you likely have sufficient coverage to pay for another party’s damages and medical expenses if you cause an accident. However, many drivers opt for auto plans with higher limits for additional protection and peace of mind.
Delaware also mandates PIP coverage in the following amounts:
- $15,000 in PIP coverage for one person
- $30,000 in PIP coverage for more than one person
Review the insurance requirements of your state:
Optional Auto Insurance Add-Ons in Delaware
The state-mandated liability insurance coverage is often enough to prevent you from running into financial issues from a car accident. However, auto insurance companies in Delaware often offer add-on coverages for more protection, such as:
- Comprehensive coverage: This protects your vehicle from non-collision incidents such as theft, vandalism, or natural disasters.
- Collision coverage: This covers damages to your vehicle resulting from a collision with a car or object, regardless of who is at fault.
- Uninsured or underinsured motorist coverage: This covers car repairs and your medical expenses if the at-fault party lacks sufficient auto insurance. It also covers you in a hit-and-run accident.
Why Home Insurance Is Crucial in Delaware
Homeowners insurance in Delaware covers losses associated with what’s likely your largest asset: your home. It protects the home’s structure, other buildings on the property, and your personal property. It also protects you from financial liability if someone is injured on your property.
Delaware presents a special need for home insurance due to its coastal location. Delaware homes may face risks from floods, hurricanes, and snowstorms. Having ample homeowners insurance ensures you’re covered if you incur any losses due to a covered event.
Mortgage lenders rely on the homes they finance as collateral on the mortgage, so they want to ensure the home has proper insurance coverage. If your home is financed, contact your lender to determine its insurance requirements.
Flood Insurance: Protecting Your Delaware Home
Delaware’s coastline extends into the Atlantic Ocean, making flooding a significant concern for homeowners. Regular homeowners insurance in Delaware typically doesn’t cover flood damage. If you live in an area prone to flooding, adding separate flood insurance is something you should consider.
You can do so through the National Flood Insurance Program (NFIP), which offers policies to help homeowners mitigate the risk of financial loss from flooding.
Tips for Comparing Insurance Policies in Delaware
When shopping for car insurance in Delaware, you want to compare multiple policies to ensure you get the best price for the coverage you need. This process can feel overwhelming, but these tips can help:
- Assess your needs: Knowing exactly what coverage and options you need before starting your search can help you find policies that match your needs and compare similar policies.
- Read the fine print: Closely read the terms, conditions, and exclusions of every policy you consider to ensure it meets your needs and aligns with other policies you’re comparing it with.
- Check insurer ratings: Getting cheap insurance in Delaware is great, but if the company is hard to work with, it may not be worthwhile. Look up online reviews to make sure you’re dealing only with reputable companies.
Navigating Delaware-Specific Insurance Regulations
Delaware, like all states, has specific insurance laws you need to understand and abide by. This ensures you have the coverage you need and the coverage the state requires.
You also want to stay on top of all the state’s insurance law changes. You can do so by periodically reviewing the Delaware Department of Insurance website.
Secure Your Peace of Mind With the Right Car Insurance
Selecting the right car insurance is about balancing the coverage you need and keeping it within your budget. EverQuote can help you secure cheap car insurance in Delaware with the online rate comparison tool. Compare multiple quotes at once to choose the best option for your budget and coverage needs.