All too often, a Minnesota driver will file an insurance claim after their car is damaged, vandalized, or stolen, only to find that they are not protected in any way, shape, or form against these hazards. They carry insurance, they pay their premiums on time, and the incident wasn't due to negligence on their part, but they made the mistake of assuming that the legal minimum had them covered.
In Minnesota, the legal insurance minimum for drivers only requires basic liability, uninsured motorist, and underinsured motorist coverage. This means that if they cause an accident, their insurer will pay for the other party's losses. If they are struck by an uninsured or underinsured motorist and unable to collect on their losses from the other party's insurer, their own insurance company will protect them.
It provides absolutely no protection at all against any losses on the policy holder's part owing to an accident that was their fault. It provides no protection should a car be broken into or should a tree fall on it. For incidents like these, the driver needs, at the least, collision, which covers road accidents, and comprehensive, which provides coverage for the car in other circumstances. And it's not a bad idea to consider gap insurance, which will pay off the remainder of your loan if you are still paying your car off, and replacement insurance, which will get you behind the wheel of a new car right after an accident.
The law requires us to carry a certain amount of insurance to ensure that other drivers are protected if we cause an accident. Beyond that, we're pretty much on our own, and it's up to us to carry a level of protection that we are comfortable with.
If you're looking to get covered in Minnesota, get in touch with us at Veldhouse Insurance Agency. You can use our rating tool to find a quote or call us at the Veldhouse Insurance Agency offices with any questions you might have.