Posts Tagged ‘Minnesota car insurance’

Minnesota Motorcycle Insurance Requirements

Monday, June 27th, 2011

Minnesota motorcycle insurance owners must have insurance coverage in place to stay legal. Under state law, liability and uninsured/underinsured motorist protection is required.

The minimum amount of bodily injury liability coverage required under state law is $30,000 to pay for injuries and damages suffered by a single accident victim and $60,000 to pay for all damages stemming from the same accident.

Property damage liability coverage is used to pay for the cost of repairs to the other driver’s vehicle and any public property damaged in the accident. The minimum amount of this type of insurance required by law is $10,000.

Uninsured and underinsured motorist coverage come into play when the at-fault driver in an accident either does not have coverage or doesn’t have enough insurance in place to pay for the damages he or she caused. At least $25,000 to cover injuries and damages of one individual and $50,000 to pay for injuries sustained by all those injured in the same accident must be put in place.

A motorcycle owner must carry proof of coverage with him or her. This information will be needed if the driver is stopped by police or involved in an accident.

Getting caught driving without Minnesota motorcycle insurance coverage in place may mean having to pay a fine of up to $1,000 (depending on whether it’s a first offense or not). The driver may also be required to spend up to 90 days in jail as well.

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Posted in Minnesota, Motorcycle Insurance, USA |

How to Save on Minnesota Car Insurance for Teens

Wednesday, June 15th, 2011

Teen drivers pay high premium rates for Minnesota car insurance coverage. This age group is more likely to take risks than adults, and they lack experience behind the wheel. This combination puts them in a high risk category for coverage purposes.

To keep rates down, add a teen driver to an existing policy as an occasional driver. This option will increase premiums, but not as much as if the teen bought a separate policy for him or herself. Any adult member of the household can add the new driver to his or her policy, and this type of change in circumstances is a great time to get quotes from several insurance companies to find the one that can offer the best premium rates.

Car insurance companies may offer discounts to teen drivers who have successfully completed an approved driver’s education program. Taking formalized training helps to get new drivers off to the best possible start and lowers the risk that they will be involved in a motor vehicle accident. The insurance company will be able to provide a list of approved programs.

When considering different insurance providers, ask whether they offer price breaks to good students. Maintaining a “B” average or higher can lead to lower rates. Insurance companies consider people who have the study habits required to do well in school mature and responsible, which also translates to good driving habits and lower risk for car insurance purposes.

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Posted in Minnesota, USA |

Is Minnesota a No-fault Car Insurance State?

Wednesday, June 1st, 2011

Minnesota is a no-fault car insurance state. Under this type of system, people who have been injured in a car accident look to their own car insurance company to pay for medical expenses. All drivers in Minnesota are required to have Personal Injury Protection (PIP) coverage in place for this purpose, and the minimum level of this coverage required by law is $40,000.

In a no-fault state, the right to sue to collect damages following an accident is limited to severe and permanent injuries. Minnesota drivers are also required to have third party liability coverage in place to protect the occupants of the other vehicle in an accident. Bodily injury liability coverage pays for medical bills incurred as the result of the accident. It also pays a benefit for funeral expenses if the accident resulted in one or more fatalities. The minimum level of coverage required by law is $30,000 to compensate a single accident victim and $60,000 to pay for all damages stemming from the accident.

Property damage liability coverage is used to pay for the cost of repairs to the other driver’s vehicle. At least $10,000 in coverage must be put in place for this purpose.

Uninsured and underinsured motorist coverage is also required by law in Minnesota. It pays for damages if the at-fault driver does not have coverage or doesn’t have enough protection in place to pay for the damages caused. The minimum amount that must be bought is $25,000 for one person’s damages and $50,000 to pay for all damages from the same accident.

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Posted in Minnesota, USA |

Save Money with Minnesota Online Car Insurance Quotes

Monday, May 16th, 2011

Minnesota drivers who want to keep the cost of owning and operating a vehicle down can save on the cost of their insurance coverage by checking out online quotes. Many insurance providers have taken the time to set up web sites, which offer information to existing customers and prospective policyholders alike.

Shopping for car insurance electronically means that a buyer does not have to wait until normal business hours to find out how much he or she would have to pay for coverage. A driver can also take the time he or she needs to learn about the companies licensed to write policies in the state before requesting a quote. Taking the time to review the company web site will reveal helpful information, such as when the company was founded, the number of policyholders it serves and whether it has the resources to pay out on claims made by its policyholders.

Comparing rates and policy terms offered by different providers is an effective strategy for finding the lowest prices for coverage. All a consumer needs is an Internet connection and he or she can get started. A number of insurance providers offer online quotes directly from their web sites, and buyers can also visit a web site that can generate prices from several companies at once. When a customer is ready to buy a policy, this process can be completed online as well.

 

 

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Posted in Minnesota, Online Car Insurance Quote |

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