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Minnesota Auto Insurance Requirements
The Minnesota auto insurance requirements stipulated by law are:
Personal Injury Protection (PIP) – $40,000 per person per accident ($20,000 for hospital/medical expenses and $20,000 for non-medical expenses such as lost wages, replacement services, etc.)
Liability – $30,000 for injuries to one person; $60,000 for injuries to two or more people
Property Damage - $10,000 for physical damage to the other driver’s vehicle or for damage to property
Uninsured - $25,000 for injuries to one person; $50,000 for injuries to two or more people
Underinsured - $25,000 for injuries to one person; $50,000 for injuries to two or more people
If you have a loan on your vehicle, the lienholder, as the legal owner of the car, will require you to carry comprehensive and collision coverage. If you do not purchase this coverage, the lien holder may buy it and charge you for the premium. This is termed “forced insurance;” it is extremely expensive, it is legal, and it does not include the required coverages listed above.
Please note that these are minimums required by Minnesota state law, not suggested coverage amounts. The simple fact is, each state’s minimum requirements are typically inadequate to sufficiently cover your costs should you be involved in a major accident. The shortfall will have to be made up out of your own pocket. Obviously, having to pay this difference could easily destroy one financially. Therefore, it is highly recommended to get much higher coverage amounts. Consult pages elsewhere on this site for recommendations in this regard.
Minnesota Auto Insurance Requirements – More Information
For more information regarding auto insurance requirements in Minnesota, contact the state’s insurance regulatory agency:
MINNESOTA – DEPARTMENT OF INSURANCE
85 7th Place East, Suite 500
St. Paul, MN 55101 United States
Phone: 651-296-4026; 651-296-2488; 800-657-3602 (In State)
FAX: 651-297-1959
Web: http://www.commerce.state.mn.us
Description: Glenn Wilson, Commissioner of Commerce
Note that this information is provided for as a general guide and is for reference purposes only and should in no way be considered legal advice. Contact the appropriate regulatory agency for the state in question for definitive answers that apply to that state.
