The car insurance regulations vary from one state to another. If you are buying your first car in Minnesota or if you have just moved to this state, you are required to abide by the Minnesota auto insurance regulations. Learn more about them, before you get to request quotes. This will help you make the necessary cost calculations to have a more effective comparison of the different deals. You must present a proof of insurance so that your vehicle can be registered in this state. The Minnesota auto insurance regulations state that you have to have both types of liability coverage. You need to purchase both bodily injury liability coverage and property damage liability coverage. The minimum bodily injury liability coverage for one person that you can purchase in Minnesota is $30,000. The minimum amount of bodily injury liability for all injuries is $60,000. You are required to buy property damage liability coverage of at least $10,000. All vehicle owners are required to purchase personal injury protection (PIP) coverage as well. The minimum amount of this coverage set by the Minnesota auto insurance regulations is $40,000. You are obliged to purchase PIP coverage, because Minnesota is a no-fault state. This means that the injured driver gets his/her medical bills paid by his/her insurer, irrespective of which one of the drivers is responsible for the collision. However, even though a no-fault law is instated, this does not mean that the victims of a car crash, for which you are found to be at fault, cannot seek compensation from you. Even though these rights are restricted to an extent, every injured person has the right to claim compensation. Basically, the fact that you and the other people involved in the collision have PIP coverage does not automatically protect you from financial liability. That is why you may want to consider buying as much bodily injury liability coverage as will protect you financially, in case you are found to be at fault for a car crash. Drivers and vehicle owners in Minnesota are often recommended to purchase $100,000 bodily injury liability coverage per person and $300,000 per accident, even though the state requirements are $30,000 and $60,000, respectively. Unlike many other state regulations, the Minnesota auto insurance regulations state that the driver must have uninsured motorist coverage and underinsured motorist (UM/UIM) coverage. The combined uninsured motorist coverage and underinsured motorist coverage per person should be at least $25,000. Auto claims Minnesota the combined coverage per accident should be at least $50,000. Given that you are obliged to purchase PIP coverage, you may want to reduce the amount of UM/UIM coverage you buy, if you want to reduce your insurance costs. The Minnesota auto insurance regulations require you to purchase a number of different types of coverage and amounts of them that are not small. Despite this, the average policy price in this state is $1,516, while the national average is $1,538. Furthermore, the prices marked a considerable fall of 14% in 2010, after the huge rise of 18% in 2009. Overall, you are legally obliged to comply with the Minnesota auto insurance requirements. However, this does not mean that you should stick to the limits required by the state. It is perfectly possible to buy more coverage at an affordable price, provided that you shop around and look for discounts.
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