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 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.