Minnesota Car Insurance
Minnesota has some of the highest minimum auto insurance requirements in the country. By law, Minnesota drivers are required to carry minimum liability coverage of $30,000 for one person, $60,000 for all parties in an accident for bodily injury damages and $10,000 minimum coverage for property damage liability. This amount of coverage may be more simply stated on an auto insurance policy as 30/60/10.
In Minnesota, drivers are also required by law to purchase Personal Injury Protection ("PIP") coverage and Uninsured/Underinsured Motorist ("UIM") coverage. PIP is no fault coverage that pays for medical bills, lost wages, household services, and funeral expenses for a driver and their passengers following an accident per the terms of the policy. In Minnesota, the minimum PIP coverage is $40,000, $20,000 for medical expenses and $20,000 for non–medical expenses.
UIM Coverage
UIM coverage applies in the event the driver at fault for the accident is uninsured or does not have enough insurance to pay for the damages sustained by the other driver(s) or passengers in the accident. The minimum allowable UIM bodily injury liability coverage is $30,000 for one person, $60,000 for the accident.
For example, if a driver in an accident had 30/60 UIM coverage, he or she would be able make a UIM claim with their auto insurance company and be able to receive up to $30,000 for their own bodily injury damages. Per the policy limits, their insurance company would only pay up to $60,000 for all UIM bodily injury claims stemming from the accident.
Collision and Comprehensive Coverage
Other important available insurance coverage types in Minnesota include Collision and Comprehensive coverage. These coverage types are not required by law but can be very important in the event of an accident. Also, many financial institutions require vehicle owners to purchase collision and comprehensive coverage as a condition of their loans.
Collision pays for vehicle repairs or vehicle replacement value following a collision regardless of fault. Comprehensive coverage pays for all vehicle repair damage or replacement value for incidents other than a collision such as the tree falling on a car or the car being stolen. There are minimum deductible limits for these collision and comprehensive such as $500, but drivers can also raise their deductible amounts to lower their premiums.
Keep Your Car Insurance Current
It is very important that Minnesota drivers do not allow their auto insurance policies to lapse. Each day, thousands of Minnesota drivers are involved in car accidents. Uninsured drivers in Minnesota pay fines and may be forced to comply with state financial responsibility laws. They can also be held personally responsible for all damages caused in an accident. Driving without car insurance in Minnesota is fiscally irresponsible and can lead to financial ruin.
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Drivers in Minnesota have more than a dozen auto insurance companies to choose from. National insurers such as Geico, Progressive, Liberty Mutual, and the Hartford all sell auto insurance in Minnesota. Whether you live in Minneapolis, St. Paul, Duluth, or Rochester, use BestCarInsuranceCompanies.net to get low cost Minnesota auto insurance. Just enter your zip code above to get started and you could be on your way to saving hundreds of dollars a year on your car insurance.