Minnesota Commercial Auto Insurance
Whether your business is large or small, it needs Minnesota commercial auto insurance if automobile use is part of its daily operations. The amount and types of coverage your business needs will vary based on the amount of risk that commercial car use exposes you business to. Obviously, if your business owns or leases a fleet of cars for 25 sales people, insurance needs will be greater than if it leases a car for each of its two top executives. But in both scenarios, basic commercial coverage is essential. Here’s what minimum coverage usually includes.
Liability insurance
Liability protects your business from losses due to injuries to people or property that your vehicle may cause. Make sure that the policy includes adequate coverage for the cost of legal defense.
Comprehensive coverage
This coverage protects your business from losses due to fire, vandalism, theft and other damage to the vehicle or its contents. Since company cars are often used to transport computers, sales samples and other expensive equipment, adequate comprehensive coverage is important for risk management.
Collision coverage
For businesses that use late model automobiles as part of their corporate identity, collision coverage is especially important. It ensures that the vehicle will be repaired and able to retain its new look and maximum value even after damage resulting from a fender bender with another vehicle or a miscalculated back up into fence post.
Towing costs
Transporting a disabled auto to a dealership for repairs can be expensive. This coverage can help ensure that the car can be towed to the repair facility of your choice rather than just the closest shop.
Rental vehicle coverage
If you or your employees use rental cars frequently, the costs this coverage can save your company can be substantial. Since damage cause while using the rental car will be covered, there will be no need to buy optional, and expensive, additional insurance at the rental counter.
State insurance laws
The State of Minnesota requires liability coverage, as well as personal injury protection
(PIP, or ‘no fault’ coverage), uninsured motorist protection and underinsured motorist protection.
Minnesota commercial auto insurance can be purchased as a stand alone policy or as part of a comprehensive business insurance package which includes coverage for buildings, equipment, furniture and other business property.
Faribo Insurance agents will be happy to evaluate your coverage needs. With offices in Faribault, MN…Hastings, MN…or Lakeville, MN we are conveniently located. Please call us at 888-923-0430, email us or use our Quick Quote Insurance Insurance form to receive a custom quote today.
Minnesota Car Insurance: Tips for Keeping Costs Down
Keeping the cost of your Minnesota car insurance as low as possible may be easier than you think. Some factors that influence high rates may have nothing to do with you or your driving record, like when your insurance carrier raises rates because they have an increase in overall claims or in high judgment claims. If that’s the case with your carrier, it may be time to look for another auto insurance company. But other factors may allow you to stay with a carrier that you like and enjoy lower premiums, like choosing higher deductibles or taking driver’s education classes.
Lower Car Insurance Rates for Teens
If you have a teen-aged driver in the family, there may be a few ways to lower the premium. Many insurance companies offer discounts for students with a high grade point average or who make the honor role. So encouraging your teen to do well in school can take a load off the family budget. And if your teen has to pay for his own insurance, there’s an even greater incentive to study hard.
Inform Your Auto Insurance Carrier About Job Changes
If you have changed jobs and now drive less because you work closer to home that may lower your rates. Did you make a switch from commuting to working from a home office, even on a part time basis? Or have you changed positions to one where you spend more time in the office and less time making sales calls or driving around in the field? If you drive fewer miles for work now than when you took out your policy, you may be able to save some money just by updating your data.
Older Cars May Need Less Insurance
When you drove your new car off the lot and it was still bright, shiny and complete with car payments, it made perfect sense to carry collision insurance that covered the replacement cost of the car. But now that the loan is paid off, and it’s a few years older, consider whether you really need to carry the same kinds of coverage. If you feel like your savings accounts could absorb the cost of paying for some car repairs, your car may be a good candidate for reduced coverage.
Ask Your Insurance Professional
Talk with your Faribo Insurance agent to see if any of these ideas could save you money, or ask for even more cost saving tips. Just give us a call at 888-923-0430, email us or use our Quick Quote Insurance Insurance form and we’ll be glad to answer your questions.
Minnesota Auto Insurance Quotes
When shopping for Minnesota auto insurance quotes, reputable sources are a must. There are a number of factors and options to consider, including coverage required by law and by the terms of your car loan, as well as personal needs based on your individual lifestyle. Here are a few tips to keep in mind the next time you’re searching for car insurance.
Assess Your Car Insurance Needs Accurately
If you use your car for business purposes, or if you have a young and growing family, you may need coverage beyond the bare minimum. If you own a commercial fleet, your requirements will be different than if you own a family car and have a teenager in the family who will be driving soon. In other words, making an accurate assessment of your needs is an important preliminary step that must be taken before you start searching around to compare prices.
Short Term Savings Can Be Risky
Buying car insurance based on rates alone can be risky business, and even turn out to cost you a lot more money in the long run. If you underestimate your auto insurance needs, you can easily end up being underinsured. And if you end up being in a car accident with inadequate converge, you may end up using money from your own savings account to pay for car repairs or medical bills.
Make Sure You’re Comparing The Same Car Insurance Coverage
Many people today start their insurance shopping on the internet because it’s conveniently available 24 hours a day. It’s easy to go online after the kids are in bed and do some searching to find the best rates. But even the most user-friendly website that compares rates from several car insurance companies often does not ask enough questions to assure that you are comparing policies with the same benefits and discounts. Factors like ages of the drivers, driving records and credit ratings, number of vehicles to be insured and discounts for carrying other types of insurance can all affect the rates.
Consult With A Professional Insurance Agent For Customized Quotes
When you get your Minnesota auto insurance quotes from a professional insurance agent who is familiar with a number of carriers, you get coverage that is customized to your individual needs. You won’t pay for coverage you don’t need, and you won’t be caught without coverage that you do need.
Faribo Insurance agents are available at three locations: Faribault, MN… Hastings, MN… and Lakeville, MN. Or email us , call us with your questions at 888-923-0430 or use the Quick Quote Insurance Insurance form online. We’ll gladly show you auto insurance options that will meet your needs.
Minnesota Auto Insurance Laws: Required Coverage
Minnesota autos insurance laws apply to all vehicles that are licensed in the state. The basic requirements include four areas of coverage: liability, personal injury, uninsured motorist and underinsured motorist coverage. When you work with a Faribo Insurance agent, your policy will be custom tailored to meet your individual needs, and you can also be sure that your policy covers the areas required by the state. Let’s take a look at the basic car insurance requirements for the State of Minnesota.
Liability Insurance
Liability covers you when you are at fault during an accident. It pays for damages that you cause to another vehicle. For example, if you’re backing out of a parking space and crunch the side door of a car that’s driving by, your liability coverage would pay for the auto body work to fix the door.
Personal Injury Protection
Personal injury protection, also known as PIP, or ‘no fault’ coverage, makes sure that you are compensated for basic losses no matter whether you caused the accident or if another driver caused it. If you incur medical expenses or loss of wages because you are unable to work while recovering from your injuries, PIP will reimburse you, up to the policy limits.
Uninsured Motorist Protection
This coverage activates when the other driver is at fault, but has no insurance. Once your personal injury protection benefit limits have been reached, the uninsured motorist coverage will continue to pay expenses up to it’s coverage limits.
Underinsured Motorist Coverage
If you are in an accident where the other driver is at fault and your medical expenses exceed the liability limits that his policy pays, this coverage will pay medical claims that are covered by your policy, and that are in addition to your personal injury protection coverage.
Minimum Required Coverage
The minimum coverage required by Minnesota auto insurance laws is primarily geared toward protecting you, your passengers and other people who may be injured during an automobile accident. Covering damage to your vehicle or any personal property within your vehicle is not mandatory by law, but it may be required by your lender if you have taken out a car loan.
The professionals at Fairibo Insurance will help you assess your individual situation so that your car insurance coverage meets the Minnesota auto insurance laws as well as any requirements of your auto loan. To take a look at your car insurance options, visit Faribo Insurance in any of its three convenient locations: Faribault, MN… Hastings, MN… and Lakeville, MN. You can also call us at 888-923-0430, email us or use the Quick Quote Insurance
Minnesota Insurance Fraud
Insurance fraud makes victims out of Minnesota insurance companies and their customers. In common terms, insurance fraud is lying to or deceiving an insurer in order to make money or to become insured. Some common fraud schemes include:
- Padding (inflating the true amount of) a claim
- Lying or Hiding (concealing) important information when applying for insurance
- Lying or Hiding (concealing) important information when reporting a loss
- Submitting False Claims
- Staging Accidents
- Failing to Report Recovered Property
- Faking Theft Claims
- Committing (home or vehicular) Arson for Profit
As a consumer, fraud should concern you since the cost is passed directly on to you in the form of higher insurance rates. You can play an important role in reducing fraud.
Fighting Auto Insurance Fraud
Persons attempting to commit insurance fraud often do so by deceiving innocent drivers during actual accidents or by involving innocent drivers in “staged” accidents. Do the following in order to minimize this risk:
- Drive defensively, keeping space between you and surrounding cars.
- When traffic slows, begin braking before the car in front of you does.
- Be careful when turning into a lane that allows two or more autos to turn left at the same time. Victims of insurance fraud are often people who float across the line when turning and then are intentionally sideswiped by a person who is “staging” an accident.
- If you are in an accident, write down license numbers of all cars involved in the accident, get the names and contact information of all persons involved and their insurers. Count the number of passengers in the other cars and get their names, addresses and any other pertinent information.
- Call the police and get a police report even if the damage is minimal. DO NOT let another driver talk you out of calling the police.
- Carry a disposable camera in your glove compartment or make use of a cell phones camera feature and take pictures of the damage to the vehicles and of all drivers and passengers in the cars.
Fighting Homeowners Insurance Fraud
It is far more difficult to involve an innocent party in homeowner fraud. However, a homeowner can help himself and help deter fraudulent claims by properly maintaining their home, and by removing or repairing items that could create tripping hazards to outside parties. Also, if someone is injured in your home, be certain that you get full information and be sure that an injured person gets any needed treatment. Carefully document any incident, including all impressions about likely injury. It may also be prudent to show healthy skepticism over any information on medical bills or claims.
Report suspicious actions such as a friend who asks you to store valuable property and you then find that they reported to his insurer that the property was stolen.
Think of insurance fraud as money out of your pocket-because it is. According to the US Chamber of Commerce, fraud adds 25% to property and casualty insurance rates.
If you are involved in an accident and you are suspicious that fraud may be involved, report it to the authorities and your insurer. Another helpful source for fraud information is the National Insurance Crime Bureau at 1-800-TEL-NICB (at the time of this writing, their Website was located at www.nicb.org).
Minnesota AAA Memebership – Discover the Advantages
About AAA
For generations, AAA has provided superior membership services to families who value quality in Minnesota. Their mission is to offer competitively priced, value-added products and services that meet members’ evolving needs. Insurance through AAA offers a variety of discounts to help you save money on your auto and home insurance. Today, more than 1 million drivers around the Midwest insure their vehicles through AAA.
Insurance Products from AAA
| Auto | Townhouse | Personal Umbrella Excess Liability |
| Home | Renters | Boats/Trailers |
| Condo | Secondary or Seasonal Homes | Snowmobiles and much more! |
Exceptional Claim Service
AAA offers claim service that is there when you need it. Their claim reporting service is available 24 hours a day, 7 days a week. Collision repair shops that meet their standards as Direct Repair Shops are ready to help you get your car back on the road quickly.
Get Started by Joining AAA Today
AAA is America’s premier auto club and membership organization. Their savings programs,
travel and insurance services are unrivaled for convenience and value.
- 24-hour roadside assistance — protects you in any car, anywhere, anytime* — whether you’re the driver or passenger.
- Exclusive AAA Member savings — on average, members who use AAA discounts save over $100 a year.
- Auto touring services — including AAA’s famous maps, TripTik® routings and TourBook® guides.
- Access to AAA Travel Agency — North America’s leading full-service leisure travel agency.
- Great rates on insurance — featuring a variety of discounts for qualified members.
Auto and home insurance underwritten by Auto Club Insurance Association or MemberSelect Insurance Company. Please note that not all insurance products are available in all states. This description is an example and not a promise or warranty of any coverage or benefits. Verify state specific policy details prior to purchase. Logos, trademarks and service marks are owned by the respective companies represented on this web page. All information is subject to change. Faribo Insurance Agency represents The Auto Club Group throughout the state of Minnesota. Call us today or use our Quick Quote for more details about AAA.
Minnesota Auto Insurance: MN Drivers Decide On Local Agents
When deciding whether to buy online or use a local auto insurance agency, MN drivers are fortunate to have options. Although buying car insurance online seems like an easy alternative, there are some hidden pitfalls that a local agent can help you avoid.
Buying car insurance online seems like such an easy thing to do. Just fill out a few forms, wait for the computer to spit out a price comparison, pick the lowest priced policy, make your first payment, and you’re done. But how do you know that the policies used in the comparisons were the best choices for your situation? And who do you call when you need to make a claim?
Find the Best Insurance Coverage
When you work with an independent insurance agent, you have an insurance professional on your side to help you accurately determine your coverage needs. Professional agents will go beyond just asking you the kinds of obvious and basic questions found on an application form. They know how to evaluate your insurance needs from a big picture perspective. That means they will look for hidden discounts that may be available because of other coverage you carry.
Find the Best Insurance Policy
Local Minnesota insurance agency professionals are knowledgeable about which insurance products offer the best coverage for the geographical area. If you buy a policy online and miss reading a detail in the fine print, you may end up without coverage for hail or ice damage, or pay too much for it. That’s not a problem if that was your intention. But if you’re insuring a brand new vehicle, it may end up being an expensive mistake — one that an expert agent can help you avoid.
Find the Best Insurance Companies
Experienced agents not only know which insurance companies provide the best coverage, they also know which companies are reliable and financially sound. This is especially important after witnessing former Wall Street giants fall due to shady business practices. After paying the premiums into your policy, you need to know that the insurance company will still be in business if you need to make a claim.
Find the Best Insurance Claims Service
Having to make an insurance claim is usually a stressful time in anyone’s life. So before buying your car insurance online, think about this: how much time will you have to spend on hold when you call? How many times will you have to explain the situation to a new customer service rep each time you call? And how many times will you have to call to get your claim paid? A personal agent will take your calls and help you through the claims process.
As team members of a local auto insurance agency, MN agents at Faribo Insurance will be glad to answer your questions. We have offices in Faribault, MN…Hastings, MN…or Lakeville, MN. You can call us at 888-923-0430, email us or use our Quick Quote Insurance form to get a custom quote. We look forward to hearing from you!
Minnesota Auto Insurance Minimums
Minnesota auto insurance not only makes good sense, it is mandated by State law. If you live in the State of Minnesota, auto insurance is an absolute must.
There are minimum limits that are needed in order to obtain and renew your license plates/tabs. We have several companies that we can look at for you to obtain the best rates and coverages. While there are minimum limits for auto insurance in the State of Minnesota, a lot of times it would be better to look at increasing the limits to higher amounts than Minnesota requires.
After all, if you get in an accident you want to be sure to have adequate coverage. Juries can award judgments to include future earnings of the person at fault – not just assets owned at the time of the accident or judgment. Minnesota auto insurance offers many options for coverage to your car as well as just liability.
It is important for you to understand all of those options when purchasing Minnesota auto insurance and we are here to help! If you need more information, just give us a call at 888-923-0430, email us or use our Quick Quote Insurance form and we’ll promptly prepare a special proposal for you. I’m sure you’ll like what you see.
Minnesota Auto Insurance – Auto Insurance MN
If We Talked About Minnesota Auto Insurance…
The transcript of an imaginary conversation between you and Faribo Insurance Agency about your automobile policy.
Faribo Insurance: I am very concerned that you are overpaying for your personal policies and that your insurance life is more complicated than necessary.
Carl Client: I already have my homeowners policy with you. Are you saying that it is overpriced?
Faribo Insurance: No, but you’ll enjoy a nice discount on your homeowners and auto when you insure both policies with us. Plus, you’ll make your insurance life easier with us as your only agent.
Carl: What kind of discount are we talking about?
Faribo Insurance: When we write your auto policy with the same company as your homeowners, you’ll receive a discount on each. That’s quite a savings. Plus, there are other benefits as well.
Carl: What other benefits will I receive if I switch my auto policy to your office?
Faribo Insurance: In addition to the savings, we’ll help you to match up your individual needs with the right auto policy coverages and options. Currently, by dividing your policies among multiple insurers, you are doubling the risk that you and your family are improperly covered. You need one team of insurance pros to coordinate all of your personal property and liability protection. And that’s us.
Carl: What if I have a claim on my home and car at the same time? Right now, I have to contact two agents. How does that work if you provide both of these policies?
Faribo Insurance: Good question! By carrying your home and car policies with us, you’ll only have to file one claim, not two. Common examples include heavy storms where trees fall over onto houses and cars and instances where drivers accidentally damage their own garage while pulling in or out.
Carl: This all sounds good. How soon can I get a quote on my car insurance with you?
Faribo Insurance: It’s easy. Just give me a call at 888-923-0430, email me or use our Quick Quote Insurance form and I’ll promptly prepare a special proposal for you. I’m sure you’ll like what you see.
