You are required to carry liability insurance, which will protect you from damages that you caused. The state sets a minimum limit for liability, but those limits are outdated, and can leave you woefully under protected. Make sure you have sufficient limits of liability in order to protect your assets. In Minnesota, according to officials, as many as one out of seven drivers in Minnesota, do not carry the legal minimum of auto insurance required by law. To protect yourself from motorist without proper coverage, your auto insurance has Under Insured and Uninsured motorist coverage, which covers injury related medical expenses, and cost associated with repairing your vehicle.
Collision insurance protects your vehicle if you are responsible for an accident. You are responsible for the damages up to your deductible, and once the amount of damages have surpassed the amount of the deductible, the insurance carrier will pay to repair your car, up to its actual cash value. Collision coverage will typically pay for any repairs or damages that your vehicle suffered from a collision, up to the fair market value of the vehicle. The higher your deductible is for a collision, the lower the premium of collision coverage will cost. If you drive an older vehicle, it is a good idea to check the fair market value of your vehicle, and compare that to the annualized price of carrying collision insurance. Make sure it makes sense from a consumer’s point of view to carry collision insurance.
Comprehensive insurance protects your vehicle in the event of vandalism, fire, hail, theft, and if you were to hit a deer. Some car insurance policy has an option with comprehensive insurance, that you can have a zero dollar deductible for glass related claims. In Minnesota, driving with a cracked windshield is a ticketable offense. That makes full glass coverage a great feature. Similarly to collision insurance, the higher your deductible is for a comprehensive claim, the lower the premium will be for auto insurance. Just like collision insurance, with comprehensive insurance, compare the annualized premium to the fair market value of your vehicle. Make sure it makes sense from a consumer’s point of view to carry comprehensive insurance.
Underinsured and uninsured motorist coverage are an important coverage that may pay for damages when a motorist without insurance or someone who is underinsured injures you. The legal limits of liability of insurance in Minnesota are low, and having uninsured, underinsured motorist coverage can pay for damages or medical bills that might be incurred from an accident. It is required by law to carry car insurance, but officials in Minnesota estimate that one in seven drivers on the road do not carry the legally required limits of insurance.
We sell auto insurance in Minnesota and Wisconsin, and everyone has different needs for their insurance policy. You are buying an insurance policy to prevent financial burdens after an incident or accident. We can help you make the right decision when it comes to buying car insurance. Sometimes the limits of liability on your auto insurance do not adequately protect your assets, and in that case an Umbrella policy would be needed. An umbrella insurance policy extends an additional amount of liability insurance to your auto, home, boat, ATV, motorcycle and more. Many of our insurance carriers offer substantial discounts for having multiple insurance policies.
Every person is unique – talk to us today to find out how to get the best price and value on Minnesota or Wisconsin car insurance for you.
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