Minnesota Car Insurance
Minnesota car insurance laws are defined by the Minnesota Department of Commerce and currently require all vehicles to meet minimum liability requirements or else possibly be exposed to steep fines, vehicle impoundment, drivers license suspension and more. The cost of driving with no car insurance in Minnesota is much more potentially expensive than complying with state car insurance laws.
Minnesota No Fault Car Insurance Laws
Minnesota drivers enjoy the luxury of no-fault car insurance laws so there is no burden of guilt to drivers in most car accidents. How no-fault car insurance works is no driver is ever declared to be at-fault so each injured parties car insurance company will pay for damages to their respective vehicles and persons. Minnesota drivers need to carry car insurance with the following minimum levels of coverage as per state laws (2010):
Bodily Injury Liability
- $30,000 liability insurance per accident per person
- $60,000 liability insurance per accident (all persons)
- $10,000 property liability coverage
UM and UIM
- $25,000 / $50,000 of (UM) Uninsured Motorist Coverage
- $25,000 / $50,000 of (UIM) Underinsured Motorist Coverage
Personal Injury Projection
- $40,000 PIP per accident per person per accident (at least $20,000 for medical expenses and $20,000 for other expenses such as loss of income)
While no-fault auto insurance laws certainly reduce your exposure to litigation from minor car accidents they are certainly not full protection against any possible car accident scenario. Any damage exceeding your policy limits can still expose you to personal liability and should you operate a vehicle with extreme negligence (such as a DUI or reckless speeding) than injured parties can – and probably will – file suit against you.
Minnesota Car Insurance Companies
The number of auto insurance companies in Minnesota is close to 150 so drivers have a wealth of auto insurers to choose from. Most national providers such as State Farm, Progressive and GECIO all have a presence along with a large number of mid-Western and regional providers who provide quality coverage with affordable car insurance rates.
How much is Minnesota Car Insurance
Minnesota drivers fall right in the middle of car insurance rates and trend only about 5% below the national average. Low cost auto insurance is readily available especially if you learn about car insurance discounts and try to maximum the number you qualify for. From the Good Driver Discount to Multi-Policy Discounts Minnesota drivers can often save 20-50% off premiums with the right combination of insurance company and discounts.
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