The state of Arizona is what is known as a Tort state. What this means is that individuals who are involved in an auto accident are responsible when it comes to any amount of damage that is done to property as well as any injuries that are the result of an accident. An individual is responsible for injuries as well as property damage if the accident was their fault. Every single driver in the state of Arizona is required by law to provide any proof that they have financial responsibility. This is basically some kind of proof saying that they have made financial arrangements that ensure they are responsible financially if they are involved in an auto accident.
For the state of Arizona there are generally two different types of ways a person can prove they are financially responsible. Acquiring a policy for auto insurance that is considered standard for the state is one of these ways. The other way is by providing some sort of insurance certificate or a certificate for a deposit or a cash amount of forty thousand dollars. Individuals who want to purchase an insurance policy must have at least the minimal amount of liability requirements. When it comes to the state of Arizona these requirements are considered relatively low when compared with many other states.
A 15/30/10 ratio is required for the minimal amount of liability insurance in the state of Arizona. It is important to keep in mind that the above mentioned minimal insurance requirements are simply the least amount of coverage that is required by the state of Arizona. It may be a smarter option to opt for a higher amount of coverage for better protection financially. A lot of people do not feel that the minimum coverage is sufficient enough for their own personal financial interests. Arizona insurance companies offer many optional policies as well such as comprehensive, collision, uninsured, medical payments, and underinsured.
In the state of Arizona bodily injury liability is something that is required by the state. The minimal coverage amounts include $15, 000 for each person and $30, 000 for each accident. Property damage liability is also required by the state of Arizona and the minimal coverage amount by law is $10, 000. There are also insurance requirements for vehicles that are leased in the state of Arizona. The majority of companies in Arizona that lease vehicles require a driver to have coverage that exceeds the minimal insurance requirements for the state of Arizona.
The reason for this is to add extra protection for the individual driving the leased vehicle and the company that is leasing the vehicle. This protection will help the leasing company in the event they are held partially responsible for an auto accident or damage that occurs. Leasing companies in Arizona will normally recommend specific amounts for insurance coverage to drivers.
For bodily injury the coverage amount should be $100, 000 for each person and $300, 000 for each accident. For property damage coverage the amount should be $50, 000. For collision and comprehensive coverage the amount should be $500 for a maximum deductible.