Minnesota Auto Insurance

Auto insurance in Minnesota

Driving a vehicle today comes with certain legal responsibilities, including the purchase of a valid auto insurance policy. The acquiring of such a policy will mean that you will stay protected should an accident occur. Whether the respective vehicle is used for personal or professional purposes, having insurance is mandatory. Should the driver operate the vehicle without adequate insurance, he/she is liable for fines of up to $1,000 or the suspension of driving documents (driver's license or vehicle registration). If you are looking to discover more information on the topic of auto insurance in Minnesota, just keep on reading.

What type of car insurance do you legally need in Minnesota?

According to the Mandatory Liability Insurance Act, all Minnesota residents who intend to operate a vehicle are obliged to purchase an insurance policy. If the mandatory insurance does not exist, the respective vehicle owner will bear legal consequences. As mentioned above, it is customary for the vehicle registration to be suspended for several months. Authorities can make use of an online insurance verification system, in order to determine whether a vehicle is insured or not.

For a resident to drive a vehicle in the state of Minnesota, the associated auto insurance must meet certain guidelines. These might include: bodily injury liability ($60,000 per accident and $30,000 per person), property damage liability ($25,000 per accident), uninsured/underinsured motorist bodily injury ($50,000 per accident and $25,000 per person), and personal injury protection ($40,000). The full coverage insurance is more beneficial than the minimum liability coverage, with vehicle owners having the opportunity to add options such as comprehensive and collision insurance. Specialists advise drivers to choose a high coverage limit, as opposed to the one required by the law in Minnesota. As a result, they will be protected, should the worst-case scenario occur.

The sum mentioned in the paragraph above refers to the maximum amount insurance providers are able to pay, should the driver be involved in an accident for which he/she is at fault. The law makes it mandatory for drivers to carry a copy of their insurance policy while driving. Naturally, driving without insurance is illegal in Minnesota, with consequences such as fines and the suspension of one's driving documents. This can refer to either the driver's license or the vehicle registration. Repeated infractions are punishable according to current laws and might lead to jail time.

Average cost of auto insurance in Minnesota

How much does car insurance cost in MN? The state minimum auto insurance policy in Minnesota has a value of $493. However, a full coverage insurance has an average value of $1,310 per year. Collision and comprehensive coverages are not included in this policy, which means you will have to calculate your budget accordingly. Among the factors that influence the overall insurance rates, there are: marital status, age, gender, location, driving record, number of miles driven, type of vehicle, presence of prior insurance. The smart thing to do is choose the insurance policy with the best coverage, not the one with the lowest price.

Most insurance providers will highlight that the average cost of auto insurance varies from one state to the other. Such differences exist for both the minimum coverage and the full version, with additional options included, such as comprehensive and collision. The factors influencing these values are: weather-related accidents, at-fault accidents, number of drivers in accordance with the general population, uninsured drivers versus the population of the respective location, and road conditions.

Minnesota has a significantly lower rate for the average auto insurance than the national median, which is around $1,770. The states with the most expensive policies include: Colorado, California, Louisiana, Florida, Nevada, Michigan, Pennsylvania, and New York. As for the most affordable states, these are: Nebraska, Maine, North Dakota, New Mexico, Oregon, Washington, Tennessee, and Wisconsin. New York has some of the most expensive auto insurance, with $2,996 for the full coverage and $1,339 for the minimum version. Maine, on the other hand, is the most affordable, with $876 for the full coverage and $227 for the minimum one.

Within the state of Minnesota, you might also find differences between various cities. Rochester has some of the most affordable rates to offer, while Minneapolis stands at the top of the list in terms of costs. The average annual premiums are as follows: Rochester - $1,541; Duluth - $1,629; Saint Paul - $1,732; Bloomington - $1,739; Minneapolis - $1,949.

When it comes to the value of auto insurance, the driver's age is often considered. Young drivers typically expect to pay more for this type of insurance, as insurance companies perceive them as irresponsible and fear the potential high rate of accidents. Teenage drivers usually pay an annual premium of over $7,700, while middle-aged drivers are accustomed to an annual premium of around $2,000. Gender differences are present, with the most affordable insurance policies being available for men. Married couples benefit from attractive rates as well, in contrast to those who are divorced, single, or widowed.

The value of a potential coverage policy is also influenced by the driver's credit history. A driver with an exceptional credit can save important sums on his/her insurance premium, as opposed to someone with a poor credit history. The presence of prior driving offenses, such as reckless driving, DUI/DWI, at-fault accidents, or speeding, will increase the auto insurance rate. Fluctuations are also to be expected when it comes to the type of coverage. Drivers are encouraged to add both comprehensive and collision to the state minimum policy, to increase the level of protection offered.

Did not find your city or county on the list? Please use our auto insurance companies search box at the top to locate all the best auto insurance quotes in Minnesota. Find car insurance in Minnesota by city, zip code or county name.

Finding the right auto insurance in Minnesota

If you are on the market for an affordable yet comprehensive insurance policy, perhaps you might consider our help. We have both the necessary knowledge and practical experience, matching drivers with the best policies for their needs. Of course, all the suggestions are made with consideration to the available budget. Just give us a call and we will gladly offer all the necessary support. This service is 100% free and it will save you from a complicated research process, so you can occupy your time with more important matters.