Preheader Home Facebook Twitter LinkedIn

What is auto insurance?

Car InsuranceAuto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

An auto insurance policy is comprised of six different kinds of coverage, including medical, liability and property.  Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.

Most auto policies are for six months or a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.

Minnesota State Minimum Coverage Requirements

Minnesota requires all licensed vehicles to have PIP, Liability, Uninsured, and Underinsured coverage in the following amounts:

Type of Coverage
Minimum Amount Required
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
$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.

Lancette Agency

We are a full service Independent Insurance Agency.  We write all lines of insurance, both Personal and Business.  Our agents have over 27+ years experience and pride ourselves on customer service.  We are licensed in Minnesota, Wisconsin, and can write supporting coverage in Florida and Arizona.  We represent many A++ rated insurance companies. Call us today for a Minneapolis auto insurance quote.
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012

View Mobile Version
  • Auto Owners Insurance
  • AAA
  • Selective Insurance
  • West Bend Insurance
  • Progressive Insurance
  • Dairyland Insurance
Local: (651) 264-1230|Fax: (651) 264-1233 1322 Helmo Ave N|St Paul, MN 55128
Home|Our Products|Customer Service|Payment Options|Report a Claim
About Us|Our Carriers|Contact Us
Facebook Twitter LinkedIn
Powered By Insurance Website Builder