Many people simply do not understand how Car insurance in Minnesota may be different than other states and did not even bother to read what is written in their insurance policy until they have an accidentl. Potential problems in the settlement of insurance claims for damages that may not have been read when looking over their Car insurance quote, even the termination of the insurance from your insurance company when in another state, read carefully.
Widespread myths about car insurance Quote in Minnesota
Unfortunately, many people believe their car insurance quote sort of an investment or savings and cash accounts. They mistakenly believe that once they pay the premiums (insurance premiums), their insurance company makes a contribution to them at some expense, in the event of an carmobile accident, they could use the money for compensation. The problem with this belief is that the amount of monthly insurance premiums are too low compared with the insurance payment to cover damages and the amount of those premiums will never have fully repair the damage. Thus, your carmobile insurance is not a savings account.
Since Car insurance quote is a “dry” document, and most people ignore his reading, there was another myth, to express that we can express the following phrase: “I owe the largest amount of money from those that are listed in my policy.” In fact you should know something about the maximum payout in the event of damage, according to your insurance policy. When buying Car insurance quote in Minnesota, you do not buy the most inclusive coverage of all available. There are always some restrictions on what is covered and what is not. The best way to see this – read the insurance policy.
A third common myth associated with carmobile insurance in Minnesota – this is an incorrect assumption that carmobile insurance is guaranteed to the terms of office. In Minnesota, there is no such thing as a guaranteed insurance updated. Extend or terminate the contract of carmobile insurance, add or delete some coverage of policy – it is the prerogative of your insurance company. Insurance Law in Minnesota prescribes rules for insurers on cancellation of the insurance contract, denial of the insurer to renew it, etc. These rules are binding on insurers, but you are advised to know them.
Facts on car insurance in Minnesota
The law requires that each litsenizirovanny car in Minnesota was safe from harm in relation to others (liability coverage), that each driver has been protected from personal injury (Personal Injury Protection), from motorists who do not have insurance (uninsured motorist coverage), and from Motorists who have insufficient insurance (underinsured motorist coverage). Each of these types of insurance described on this website.
Minnesota – a state of “no guilty”. This means that in the event of an carmobile accident all parties involved, regardless of their guilt, receive compensation for damages from their insurance companies. Therefore, all drivers in Minnesota are required to have insurance against personal injury (Personal Injury Protection). You can only buy the minimum coverage, but you should take into account other benefits of insurance against personal injury. The fact that the insurance will pay not only your medical expenses. It can compensate you lost wages and, God forbid, the funeral expenses. In addition, its effect may also apply to passengers who were with you in the car at the time of the accident.
Minimum requirements for srahovomu coverage in Minnesota
The minimum amount for which you are required to be insured under the insurance for personal injury (PIP coverage), is 40 thousand dollars for each person injured in an carmobile accident. 20 thousand dollars – is the amount that would cover medical expenses and other 20,000 – to pay for non-medical costs – examples given above.
Insurance against injury in relation to third parties (Liability Insurance) pays for damage to your car to the other person when you are responsible for the accident. Minimum requirements for insurance against damage to third parties in Minnesota are as follows: 30 thousand dollars for bodily injury per person, 60,000 for bodily injury to two or more persons and 10,000 for property damage to your vehicle of another person or damage to property.
Keep in mind that the above stated amount – this is only the bare minimum, which requires you to law in Minnesota. Therefore, whether the minimal protection the best choice? Think about this: what happens if you hit someone’s car, so that she can not be restored, and it costs 50 thousand dollars? This means that over 10 thousand dollars, according to minimum legal requirements, you will need to somehow find 40 tychyach to repair the damage, not to mention the compensation for moral damages. What will you do if the driver of another vehicle was wounded so seriously that the amount provided for medical expenses under your insurance is insufficient to pay the medical bills of your sacrifices? Especially if you draw to the court … Awful, is not it? Therefore, as an insurance agent, I never recommend my clients to buy certain state minimum standards of protection. This may be a thousand times more expensive than it might seem at first glance.
Insurance nazastrahovannyh motorists (Uninsured Motorists Coverage) pays the medical expenses that you may incur after the limit of your insurance against personal injury (PIP coverage) has been exhausted, and the other driver, guilty of the accident has no insurance.
Insurance against underinsured motorists (Underinsured Motorists Coverage) pays only for medical expenses of persons referred to in your car insurance quote policy of Minnesota. This insurance is applicable if limit is your insurance against personal injury (PIP coverage) has been exhausted, and the other driver is guilty of an accident, does not have sufficient insurance coverage to pay for medical expenses that you will incur as a result of the accident.
And insurance against uninsured motorists, and insurance against underinsured motorists have the following statutory minimum requirements: 25 thousand dollars for bodily injury per person and 50,000 for bodily injury to two or more persons.
Optional car insurance in Minnesota
If your state insurance protects you against third party liability, optional insurance coverage is applicable when someone or something causes damage to your vehicle. Such optional insurance coverage – a comprehensive insurance (Comprehensive Coverage) and insurance for collision (Collision Coverage).
Comprehensive insurance protects you against damage caused by theft, vandalism, fire, hail, wind, collision with an animal or bird, etc.
Insurance protects the insured car collision on the damage caused by collision with another car or object, as well as the overturning of the vehicle.
And comprehensive insurance and collision insurance are sold with a deductible (Deductible) – the amount you’re willing to pay out of pocket when the insurance case.
If you want to improve your insurance coverage or if you do not know whether your current insurance protection is adequate for your needs, call me (phone number on the contacts page) for a free 15-minute consultation.Number of View :2506