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Minnesota Auto Insurance Quotes

Are you looking for the most profitable auto insurance deals in Minnesota? It is important for you to find and compare plenty of auto insurance quotes offered by several licensed auto insurance providers before you take a call. You would do well to find information on the rules and regulations prevalent in Minnesota and the penalties one would incur when not carrying the requisite insurance coverage. Understanding the rules and awareness of the minimum coverage limits will allow you to shop better for auto insurance required while driving on the roads of Minnesota.

Minnesota Liability Insurance Requirements

Like many other states, Minnesota requires that drivers purchase liability insurance for all registered vehicles.  In addition to the liability coverage, Minnesota also requires that drivers have personal injury protection, underinsured motorist coverage, and uninsured motorist coverage.  The minimum coverage amounts required for liability insurance are $30,000 for injuries to one person in one accident, $60,000 for all bodily injuries in one accident, and $10,000 for property damage. 

Personal injury protection will pay for medical expenses and lost wages for covered drivers and passengers, regardless of who is at fault for an accident.  The required coverage amounts under Minnesota law are $20,000 for medical expenses and $20,000 for non-medical expenses, for a total of $40,000 per person per accident.  Underinsured motorist coverage can pay for your medical expenses but only if the other driver is at fault and does not have the right amount of insurance.  Under Minnesota law, drivers must carry a minimum of $25,000 for injuries for one person in one accident and $50,000 for all bodily injuries in one accident.  Uninsured motorist coverage can pay for medical expenses if you max out your personal injury protection benefits and the other driver is responsible for the accident and does not have insurance.  The minimum coverage for this type of policy is $25,000 for bodily injuries for one person in an accident and $50,000 for all bodily injuries in an accident.

Minnesota's No-Fault Law

Minnesota is considered a no-fault state.  This means that your insurance company must pay your expenses regardless of who was at fault in an accident.  No-fault laws were established to reduce auto insurance fraud and ensure accident victims' expenses were paid after accidents.

Minnesota Penalties for Lack of Coverage

The penalties for failing to maintain insurance on your vehicle depend on the number of offenses you have accumulated.  A first offense is considered a misdemeanor, but subsequent offenses are considered gross misdemeanors if they occur within ten years of a first offense.  Convicted offenders may be jailed for up to 90 days and required to pay fines ranging from $250 to $1,000.  Driver's license suspension is also a possible penalty.

Tips for Getting Cheap Minnesota Auto Insurance

With increasing prices all around, auto insurance customers should try and save wherever they can. There are many ways in which you can get a good discount on your Minnesota auto insurance allowing you to get good value for money. Firstly, you will always get a better price when you go for full insurance coverage instead of the mandatory liability insurance. Full insurance coverage is the basic package of auto insurance that includes comprehensive and collision insurance along with liability insurance. Taking the full insurance will help you negotiate for a better coverage at a lower cost and also keep you protected at most times. The insurance provider will offer compensation for damages caused during accidents as well as unforeseen disasters of different kinds. It is imperative not to compromise on the quality of your auto insurance protection, just to save on the premiums. Another way to lower auto insurance premium is by going for a higher deductible. In case of a higher deductible, you will get coverage from the provider, but you will have to pay a greater share of the costs, incurred due to damages to your car.

Shopping for Minnesota auto insurance

While shopping for Minnesota auto insurance make sure that you don't blindly renew your policy or take up any coverage on the last day before expiry. Instead, you should start requesting for free insurance quotes at least a month prior to the expiry of your auto insurance. The prices would have changed vastly in a year's time and there is a good chance that you can get a better deal from one of the many auto insurance providers licensed to run business in the state. If you haven't had any accidents or the need to make claims you can ask for added discounts from the insurance provider too.

Don't stop at what is mandated

A lot of car owners have the habit of just buying the insurance protection that is mandated by law. Compromising on your protection to lower your auto insurance cost isn't really the right thing to do. You need to purchase coverage that you feel is important for you to drive without anxiety on the roads of Minnesota. If you drive often in accident prone zones, for example, you should definitely own collision insurance or personal injury protection. This is because in Minnesota, it is your own insurance policy that should pay for the medical and damage repair costs. Similarly, driving through busy roads for long distances also makes you more vulnerable to road accidents.

Auto insurance is not just to take care of costs resulting out of accidents. Sometimes accidents can leave your car totaled and it would hardly fetch any price. In such scenarios you would want coverage to take care of the liability of auto loan which is still pending. So, the benefits of auto insurance extend beyond just third party liability. At a minimum cost every month, you can avoid massive pressures on your budget or finances at a later stage.