Minnesota Auto Insurance
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Minnesota Auto Insurance Requirements
Minnesota differs from other states in two very significant ways. First, Minnesota is a no fault state and second, drivers of cars licensed in Minnesota must also carry uninsured and underinsured motorist coverage. This is in addition to liability and personal injury protection, which are also required types of coverage under Minnesota state law.
Personal Injury Protection
Personal Injury Protection (PIP) is the no-fault coverage of your auto insurance policy. It covers your medical expenses, loss of wages and replacement services (a housekeeper, for example) if you are injured as a result of an accident. Forty thousand dollars per accident is the minimum amount required in Minnesota.
Minnesota Liability
Liability protects against claims for vehicle damage and other purposes made by the other party involved in the accident. Even in a no fault state, there are times when fault needs to be determined. When this happens, the at-fault party’s insurer will pay certain claims. The minimum required is 30/60/10 or $30,000 a single person’s injuries, $60,000 for two or more persons’ injuries and $10,000 for property damage including the other driver’s car and damaged property (signs, utility poles, etc.).
Insufficient Liability
Underinsured Motorist (UIM) goes into effect in situations where the other driver has insufficient liability to cover all of your medical claims. Uninsured Motorist (UM) coverage helps with your medical claims when the at-fault driver does not have any type of auto insurance coverage.
Minimum Amounts
Minimum amounts for both Underinsured and Uninsured Motorist coverage is $25,000 per person/$50,000 for two or more persons.
These are the four types of coverage Minnesota state law requires of every car registered in the state. Anything else you decide to purchase, including higher-than-required minimum amounts, is optional. Two types of optional coverage worth considering are Collision coverage and Comprehensive coverage. Usually offered as a bundle, Collision pays for damage resulting from a collision with an object or vehicle. Comprehensive pays for damage to your car caused by most other things including tree limbs, weather, animals, theft and vandalism, and more.
Minnesota Department of Commerce
For more information, contact the Minnesota Department of Commerce, located in St. Paul at 651-296-2488, or visit the auto insurance section of the website at http://www.state.mn.us/portal/mn/jsp/content.do?programid=536914935&id=-536893703&agency=Commerce.