Minnesota Auto Insurance Quotes and Information
Purchasing Minnesota auto insurance in a market of ever-increasing premiums can be a scary prospect. Auto insurance costs have increased steadily over the past five years, making finding an affordable auto insurance policy difficult.
Let InsureMe help! As the first online auto insurance quoting service, we contract with some of the state's chief auto insurers—and we know how to find you the most competitive auto insurance rates. Use our free quote box to let us know about yourself and your driving habits, and we'll put our agents to work for you right away!
Don't risk putting yourself and your loved ones at risk every time you get in your car. Contact InsureMe and get the Minnesota auto insurance you need today!
Minnesota's Auto Insurance Market
Minnesota auto insurance is a competitive market, with about 200 companies competing for your auto insurance business. Still, auto insurance costs significantly more in Minnesota than in neighboring states. This is due, in part, to the state's requirement that residents carry all four of the following types of insurance coverage:
Personal Injury Protection (PIP): also called "no-fault" insurance. Designed to pay medical expenses and lost earnings for a driver or passenger injured in or by your car, regardless of who is at fault. Minimum required is $40,000 per person per accident.
Bodily Injury Liability: protects you against claims alleging your negligence or fault in an accident. State-mandated minimums are $30,000 per person, $60,000 per accident and $10,000 for property damage.
Uninsured Motorist: pays for your medical expenses after you have exhausted your PIP benefits and when the other driver is at fault but has no Minnesota auto insurance. Required minimums are $25,000 per person and $50,000 per accident.
Underinsured Motorist: covers personal injury or property damage caused by an underinsured driver. At least $25,000 per person and $50,000 per accident is required.
Please note: if you still owe money on your car, your lender will also require you to carry comprehensive and collision coverage, which protect your own car against damage.
Auto Insurance Is…
- A way for Minnesota auto insurance companies to share claims risk among a particular group of people
- A state requirement
- Varied, with both established minimums and other available options exceeding those minimums
Auto Insurance Is Not…
- A savings account from which you can withdraw money when you need it
- Limitless; all Minnesota auto insurance policies have limitations
- Guaranteed; your insurance company may cancel or nonrenew your policy based on your driving record or other factors
Policy Cost
The price you pay for your Minnesota auto insurance depends on:
- Coverages you add above state minimums
- Your age and gender
- The type of vehicle you drive
- How many miles you drive annually
- Where you live
- Your driving record
- Discounts applied to your premiums
- Surcharges due to traffic violations or accidents
- How high you set your deductibles
You can offset some of these costs by comparison shopping, comparing rates from more than one Minnesota auto insurance company; setting your deductibles as high as you can afford; and asking for all possible discounts.
What to Do If You Can't Find Insurance
All Minnesota residents are guaranteed auto insurance coverage under the Minnesota Auto Insurance Plan. If you are not able to purchase a policy through ordinary channels, this plan provides you with a pool of licensed state insurers who must offer you coverage after prequalification. This type of policy is, however, more costly, so exhaust all other resources before considering this type of coverage.
For More Help with Your Auto Insurance Needs
The Minnesota Department of Commerce is available to answer any questions you have about your Minnesota auto insurance. Contact them at 800-657-3602, or online at www.commerce.state.mn.us.
Ready to start saving?
You don't have to pay exorbitant rates for your Minnesota auto insurance—help is available! Whether you're looking for a new policy due to cancellation or you need insurance for a new car, InsureMe can help!
Contact us today to get in on the savings…what do you have to lose?
