Car Insurance in Minnesota
A new Minnesota car owner or a Minnesotan seeking new car insurance has many choices for car insurance in Minnesota. Any person in such a position will be wise to do some extensive comparison shopping before committing to a new car insurance policy. This article will discuss some information that any car insurance consumer in Minnesota may find useful.
Car Insurance in Minnesota: How Can the Minnesota Department of Insurance Help?
As in any state, a good source of objective information on car insurance in Minnesota is the state’s Department of Insurance, which is located within the Department of Commerce. Available on the Department of Insurance website are answers to questions relating to car insurance in Minnesota. The website explains the state requirements for a Minnesota car insurance policy, the how-to’s of car insurance claims, the keys to comparing car insurance companies, and much more. For the new or experienced consumer of car insurance in Minnesota, the state’s Department of Insurance is a valuable resource!
Car Insurance in Minnesota: Why Have Car Insurance in Minnesota?
Car insurance (also known as auto or motor insurance) is a product sold by insurance companies that guarantees a car owner agreed coverage against losses. These losses may be due to expenses – or even lost income – caused by an accident or a stolen vehicle. Most people in the United States purchase only liability insurance, which is all that most states require. Liability coverage on a car protects the owner and any owner-approved driver of the insured vehicle against legal liability after an accident. Most car insurance companies will extend liability coverage to rental vehicles as well.
Comprehensive car insurance, however, offers coverage for repairs to a customer’s vehicle after an accident and replacement of a customer’s car if stolen or totaled – in addition to liability insurance. Proof of insurance must, by state law, be supplied when a vehicle is registered with the state. Current proof of insurance must be kept in the insured vehicle at all times. Failure to produce proof of insurance upon state inspection may lead to a driver being charged with failure to maintain financial responsibility. In the state of Minnesota, fines for such an offense, if repeated within 10 years, may range from $250-$1000 with a ninety-day imprisonment. The driver’s license may also be revoked or suspended. Car insurance in Minnesota is, obviously, taken seriously.
Car Insurance in Minnesota: What Coverage Is Required in Minnesota?
Car insurance in Minnesota, by law, must include liability insurance, personal injury protection and coverage for both uninsured and underinsured drivers (should such persons be involved in an accident). Minnesota requires that every vehicle have coverage for bodily injury liability ($30,000 per person up to $60,000) and property damage liability ($10,000 maximum). Personal injury protection (PIP) coverage is required against medical expenses ($20,000 per person) and non-medical expenses, such as losses of income ($20,000 per person) up to $40,000. Insurance companies practicing in Minnesota must provide uninsured motorist bodily injury insurance and underinsured motorist bodily injury insurance on all vehicles it insures. This protection supplements their customers’ personal injury protection (with $25,000 per person up to $50,000) should uninsured or underinsured drivers cause accidents involving their customers.
Car Insurance in Minnesota: What Is No-Fault Car Insurance?
Minnesota has no-fault car insurance, which means that an insurance company must pay injury claims – whether or not its customer was at fault for the accident. For example, Minnesota resident Mr. Nobody, a person at fault for an accident, should contact and accurately inform his insurance company of the accident and its causes (to the best his knowledge). If the accident caused any injuries, injured parties or their attorneys will contact Mr. Nobody’s insurance company directly. Mr. Nobody’s insurance company is then responsible to evaluate the losses of injured parties and negotiate a financial agreement with these parties or their attorneys, based upon Mr. Nobody’s insurance policy. If claims cannot be settled satisfactorily in this manner, injured parties can file a law suit against Mr. Nobody. Mr. Nobody’s insurance company must then provide a legal defense for Mr. Nobody up to the maximum liability coverage provided in his policy. The Minnesota State Department of Insurance website is an excellent source for further information on no-fault car insurance in that state.
Car Insurance in Minnesota: Free Quote!
Purchasing Minnesota car insurance is an important decision. Help is available, however. A free comparison insurance quote is available by entering your zip code at the top of this page.