Auto Insurance Laws and Regulations in Minnesota?

Answer 1

The state of Minnesota could be considered a somewhat special case when it comes to auto insurance requirements. In this case, drivers are required to have policies for numerous types of insurance. Most states only require liability, but Minnesota mandates above and beyond that. Therefore, drivers need to know the laws. Acquiring coverage should not prove challenging, and holding a policy can protect a motorist from various consequences and issues.

Of course, Minnesota mandates property damage and personal injury liability. Drivers will need $30,000 per person for bodily injury, and $60,000 for accidents involving more than one person. These minimums are fairly high in comparison to other states. The $10,000 requirement for property damage is much more similar to the average state though. Of course, these policies protect drivers from huge financial losses when they are found to be At Fault for an accident. Liability insurance is the nationwide standard.

The biggest mandate from Minnesota that is uncommon elsewhere is personal injury protection. Such insurance covers medical bills, lost wages, and other expenses for people involved in accidents. In most cases, this is called no-fault insurance because fault does not matter. An individual needs a policy for at least $40,000 per person per accident. $20,000 must be available for medical bills while another $20,000 is required for non-medical expenses. Undoubtedly, this coverage comes in handy after an accident.

Finally, drivers in Minnesota are required to have uninsured and underinsured motorist policies. Underinsured coverage must amount to at least $25,000 for one person, and $50,000 for multiple persons. This type of coverage will pay a person's medical expenses should the other driver's policy not cover everything. For uninsured coverage, a driver will need the same amounts previously mentioned for underinsured coverage. Such a policy will take care of expenses when the other at-fault driver is uninsured. Obviously, these policies are more than useful in the right circumstances.

Minnesota imposes strict requirements for numerous types of auto insurance. Sure, this can cost more for drivers, but it keeps people on the road safer. Plus, taking out an insurance policy does not cost that much money. The penalties are fairly stiff for driving without insurance, so a person should not think about attempting it. Auto insurance is always necessary, and drivers should think of taking out much larger policies than the minimum requirements.