Car Insurance
What is Car Insurance
Insurance is a transfer of risk from one party to another. In the case of car insurance (aka auto insurance), you transfer the risk causing an expensive auto accident to the insurance company. If you’re involved in an accident and cause bodily injury or property damage to someone else, the insurance company will cover those costs, up to the specified policy limits. In return for taking on the risk of a potential costly accident, you must pay a pre-determined amount of money to the insurance company, called the premium. The premium is paid whether or not you experience a claim.
The insurance company is able to make this work because they collect premiums from many people but usually only a percentage of those people make a claim in a given year. The premium charged can vary from person to person based on a number of factors that the company believes makes you more or less of a risk. You can learn more about how car insurance works from the Insurance Information Institute.
How to Shop for Car Insurance
Figure Out Your Coverage
The first step is knowing what auto insurance coverage you need. Some things to consider are:
- What is the value of my vehicle(s)?
- How much can I afford to pay out of pocket for costs?
- Would I need a rental car if my vehicle was unusable after an accident?
- Do I have young drivers in my household?
- What is my estimated net worth?
Get Multiple Insurance Quotes
The best way to find great insurance rates is to get quotes from a multitude of insurance companies. Each company targets people based on different characteristics. This means the same insurance company may offer drastically different rates for you compared to your friend, neighbor, or coworker.
Compare Insurance Companies
Once you’ve narrowed down your options to a handful of insurance companies, research each company’s claims satisfaction ratings, customer service ratings, financial stability, and any unique coverage offerings.
Add Your Discounts
Don’t forget to add any discounts for which you qualify. Many discounts are common to most insurance companies, but each usually offer specific discounts too.
We Can Help
Let us walk you through the process and get insurance quotes from over 15 top companies on your behalf.
Car Insurance Coverage Available
Auto Liability
Covers injury or property damage you cause with your vehicle.
Collision
Covers damage to your vehicle caused by a collision with an object or vehicle.
Comprehensive
Covers damage to your vehicle caused by something other than a collision.
Uninsured/Underinsured
Covers your injuries when the at-fault party has too little or no insurance.
Rental Reimbursement
Covers the cost of a rental car if yours is not usable because of a covered incident.
Roadside Assistance
Covers fuel delivery, towing, unlocks, and other emergency assistance.
Personal Injury Protection
Covers first party medical expenses and lost wages without regard to fault.
Vehicles We Can Cover
Private passenger vehicles
Pickup trucks
Classic cars
Exotic cars
Seasonal vehicles
Business use vehicles
Frequently Asked Questions
In Minnesota, you have the option to purchase full glass coverage. This means, a cracked windshield will be covered without being subject to the deductible. This is an optional coverage, however, so you’ll need to check your policy or contact your insurance agent to be sure if you have coverage.
A deductible is the amount of money you agree to cover before your insurance coverage takes effect. Say, for example, you have a $500 auto insurance comprehensive deductible and your car is damaged by hail with the total repair costing $2,500. The insurance company would pay a total of $2,000 and you would cover the first $500. Deductibles help keep insurance costs down because they reduce the amount of small insurance claims. The higher your deductible, the lower your premium will be.
Minnesota requires auto liability, uninsured/underinsured, and personal injury protection coverage. As of 2022, the limits required for liability are $30,000 per person, $60,000 per accident, and $10,000 property damage. The limits required for um/uim are $25,000 per person and $50,000 per accident. The limits required for PIP are $40,000 per person, per accident. While these basic limits make you legal to drive, they are not sufficient to protect your interests.
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