Anyone that drives a car on the roads of Minnesota as a resident of the state needs to understand what is required in the way of Minnesota auto insurance. The first thing to understand is that it is not okay to drive any automobile on the public roadways without having the benefit of some kind of auto insurance. The very minimum coverage that is required for all drivers in this state is liability insurance which is designed to protect driver's interests when involved in an accident that was not their fault.
Minnesota Auto Insurance - The Minimum Requirements
Current minimum requirements for auto insurance in the state of Minnesota are as follows:
1) Bodily Injury Liability $30,000 per person injured in an accident up to $60,000 total per accident
2) Property Damage Liability coverage which carries a $10,000 minimum limit
3) Uninsured/Underinsured Motorist Bodily Injury coverage of $25,000/$50,000 limit
4) Personal Injury Protection coverage of $40,000 limit
Minnesota Auto Insurance - The No Fault System
Minnesota auto insurance follows a no-fault system that is intended to protect the injured parties with no regard to the individual driver that was at fault. Each insurer is expected to pay for the driver they insured.
The Minnesota auto insurance requirement of a minimum Personal Injury Protection coverage of $40,000 helps to pay what is known as "reasonable and necessary" expenses that occur from medical attention resulting from an auto accident.
The Uninsured/Underinsured Motorist coverage requirement of $25,000 is intended to protect a driver and their passengers from an accident that is caused by an uninsured or underinsured motorist. Protecting the driver is what Minnesota auto insurance is all about. These minimum requirements give the purchaser of auto insurance a basic view of what is necessary to drive a vehicle on the streets of this state legally. The minimums are by no means the only amount of insurance that can be obtained by anyone wishing to be fully protected by their insurance company policy.
When considering the amount of Minnesota auto insurance that you REALLY need it is worth considering your own experiences about what things like medical costs really cost. The truth is that they can be horrendous in terms of how expensive they are, and so you may end up deciding that the minimum legal requirements are simply not enough and that you should get more cover.
This is of course up to you to decide, and how much you want to spend will clearly be a big part of any decision. But just make sure that you get fully informed about potential costs and libilities if you do have an accident, and get a few Minnesota Auto Insurance Quotes to compare how much different levels of cover might end up costing you.
How About Full Coverage Minnesota Auto Insurance?
Since the automobile is one of the most costly investments that a person will ever make, it just makes sense to cover it with the protection that can only be had with full coverage auto insurance.
When talking about full coverage, an individual is usually talking about comprehensive auto insurance coverage which will pay for loss due to any kind of damage other than what occurs during a collision. At the same time, collision coverage is the type that will pay for damage that occurs during any kind of collision. Then there is liability insurance that will cover damage that occurs to the other driver's vehicle.
Being fully covered means that the vehicle owner has taken into consideration every possible event and purchased a policy that will cover those events. So, if you want the best cover possible then you look into the potential costs of a full coverage, comprehensive policy.