Minnesota requires some of the highest minimum liability insurance in the country, but if you're responsible for an accident in which somebody was seriously injured, minimum coverage just isn't enough. After an evening in the emergency room, an orthopedic surgery, hospitalization and physical therapy, the injured party and his or her attorney are going to be looking to you and your personal assets to cover the balance of damages after they've exhausted your policy limits.
What's different about Minnesota is that it's a no-fault state. Regardless of liability, medical bills and lost earnings will be paid up to the minimum policy limits of $20,000 each. Along with that, you're required to carry another $30,000 for liability with a maximum of $60,000 per occurrence and another $10,000 for property damage. In the scenario presented above, you might get by with enough coverage for lost earnings, but your liability coverage is going to be wholly and woefully inadequate. You're not going to get any help with the repair or replacement of your vehicle either, You're not covered because you only bought minimum liability auto insurance. Don't submit a claim for rental coverage to get you to and from your 20 mile commute to work. With minimum liability auto insurance, you don't have that coverage either.
At Value Plus Insurance, a big part of our job is making sure that you have insurance that's sufficient to cover you for any risk that you might encounter on the road. If you're riding on minimum coverage, and you get hit by an uninsured or underinsured driver, you're the one who will be losing valuable time at work and incurring those gigantic medical bills. Minimum policy limits are only $25,000 on uninsured and underinsured motorist insurance.
Now you might want to look into boosting your auto insurance coverage. You can't predict the future, so you don't know what could happen next time you pull out onto the road. At Value Plus, we service the Twin Cities and surrounding area. Call us, or use our online contact form. We'll look into a wide selection of companies to line you up with auto insurance coverage that's tailored to suit your needs at the most affordable price.