Minnesota Auto Insurance

State of Minnesota
The state of MN is a no-fault state. Therefore, all licensed vehicles are required to carry personal injury protection (PIP), liability, uninsured, and underinsured coverage. According to the Minnesota Department of Commerce, the best ways to find cheap auto insurance and reduce premiums are to obtain rates from more than one company, comparison shop, and inquire about and take advantage of any discounts available.

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How to Shop for Car Insurance in MN

By completing quote comparisons, consumers have the best chance of locating the cheapest Minnesota auto insurance rates. The consumer should compare rates from as many providers as possible in order to have a better chance of saving. Although comparing is probably the most important part of purchasing new policies, consumers should take the time to evaluate their particular needs before doing so.

Aside from what is mandatory by state law, there are additional options that may be beneficial. Raising the limits of the required coverage can be wise since expenses may exceed those which are required by the state. The insured would be responsible for the additional expense resulting from a collision if this were the case.

If financing a vehicle, the lien holder may and probably will require that the financed vehicle be covered by comprehensive and collision coverage. This protects the insured automobile from physical damage expenses. If this is not purchased, the finance company can legally buy this coverage and charge the premium to the customer. This is known as "forced insurance" and can become extremely expensive. Residents should compare MN car insurance quotes for such coverage and obtain it themselves rather than have it applied by a finance company.

If in need of comp and collision, one must choose a deductible. The higher the deductibles, the lower the premiums and vice versa. Keep in mind that this is the amount that one would need to pay at the time of filing and receiving compensation for a claim.

Minnesota Car Insurance Laws

There are several types of coverage that are made mandatory by MN auto insurance laws for all registered vehicles. They are the following:Minnesota seal

Personal Injury Protection
  • $40,000 per person per accident
  • $30,000 for bodily injury to one person
  • $60,000 for injuries to two or more people
  • $10,000 for damage to another party's property
  • $25,000 for injuries to one person
  • $50,000 for injuries to two or more people
Failure to maintain the required policies may result in a misdemeanor, a fine, a jail sentence of up to 90 days, and license suspension. For more information about Minnesota auto insurance one can contact the state's Department of Commerce.

Questions about MN Coverage

  • On What Grounds Can My Minnesota Auto Insurance Be Canceled?

    Minnesota written and drawn on a chalkboardWhen Minnesota motorists buy an auto insurance policy, their coverage provider may cancel the plan within the first 59 days for virtually any reason. The only motives for cancellation that are prohibited during this period are those related to the insured's...

  • What is Optional Minnesota Auto Insurance?

    Minnesota state flag with rounded cornersIn Minnesota the different types of automobile coverage are typically divided between required and optional. There are numerous forms of vehicle protection that are compulsory to be legally allowed to drive, but sometimes individuals want to be better prepared for a wider range of...

  • Can A Crash Affect My Minnesota Auto Insurance Rates?

    Minnesota state flag stickerAutomobile accidents can happen at almost any time and any place, which is why many Minnesota residents choose and are required to buy vehicle coverage. But being involved in a crash can potentially change how much someone pays for their policy. Often insurers base premiums on a...

News Related to Minnesota Insurance Issues

  • Minn. Officials Push Legislation on No-Fault Car Insurance Crime

    February 17, 2014 - Minnesota's car insurance system is the centerpiece of a no-fault reform effort that officials recently announced. Law enforcement authorities, politicians and insurance officials gathered last week to announce that the "comprehensive package of reforms" they are pursuing would, among other things, stiffen penalties for ...

  • Minnesota Bill Seeks Car Insurance Tax to Bolster Trauma Care

    January 30, 2014 - A Minnesota bill would tax car insurers $10 a year for every covered vehicle to bolster funds for the state's emergency and trauma services. Under HF 1967, the tax on Minnesota car insurance companies would go into a "special revenue fund" for emergency services to be broken down as follows: 75 percent for "payments ...

  • Minnesota Insurers Line Up against Policy Surcharge for Pensions

    March 7, 2013 - A bill under consideration in Minnesota would add a $5 surcharge to every auto coverage policy there to inject additional revenue into underfunded public safety pension plans, but it has drawn the ire of insurers in the state that say the industry is not meant to prop up such programs. The effort, represented in bills SF 935 ...

Articles for Minnesota Auto Insurance

  • Required Auto Insurance Coverage in Minnesota

    Dec 19, 2011 - After MN State Legislature passed the Minnesota No-Fault Automobile Insurance Act in 1974 it became mandatory for all motorists in the North Star State to maintain basic economic loss benefits to legally drive. This act was designed to...

  • Companies Selling Minnesota Car Insurance

    Oct 18, 2011 - For Minnesota residents to meet the state minimum automobile insurance requirements, vehicle owners typically need to find an adequate coverage provider. In the North Star State, however, people generally have...

  • Auto Insurance for Young Minnesota Motorists

    Jul 28, 2011 - In the North Star State there are an estimated 416,596 licensed drivers under the age 25 that are required to locate and purchase vehicle coverage. Being a motorist of any age in MN also means maintaining an automobile...