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 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 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.