Minnesota Car Insurance
Comparison shopping for Minnesota car insurance is a smart move on the part of any motorist. This statement is especially true for those in Minnesota (MN). Regardless of where you live, whether in Minneapolis, MN or in St. Paul, Minnesota residents can compare the costs and coverage of auto insurance online from the comfort of their home or office. In order to save money, it would be in your best interest to do some research into price comparison by obtaining a car insurance quote. This method of price comparison is quick, easy, and free.
The state law of MN requires a motorist to have minimum Bodily Injury Liability limits of $30,000 per injured person up to a total of $60,000 per accident, and Property Damage Liability coverage with a minimum limit of $10,000. This is referred to as the 30/60/10 minimum for the state. MN follows the guidelines of a system called the No-Fault system. Essentially what this means is that in the event of an accident, your Minnesota car insurance company will make payments towards your injury claim, regardless of who is at fault. However, the amount which they are willing to pay is often a preset limit. While the specific details of the No-Fault system vary among the states that employ it, there can be a loss of right to file a lawsuit against a guilty party in some circumstances. Minnesota also requires its motorists to carry a minimum of $40,000 in personal injury protection car insurance. Personal protection auto insurance provides for the immediate medical expenses of you and your passengers should you be involved in an accident.
Alternatives to Private Minnesota Car Insurance
Minnesota, like a few other states, does offer an alternative to purchasing car insurance from a private car insurance company. However, this alternative does involve having a large amount of money at your disposal. You can receive a document from the state government in Minnesota stating that you have car insurance coverage. In order to do this, you must make a deposit of $35,000.00 in cash with the Department of Motor Vehicles (or the DMV). Businesses who own large fleets of vehicles may take advantage of a similar opportunity. They can obtain a certification of self coverage from the DMV. However, in order to do this, the business must have a fleet of twenty-five cars or more. As many consumers do not have $35,000.00 worth of cash at their immediate disposal, obtaining car insurance through more traditional channels is their only option.
Since you most likely must opt for traditional car insurance, receiving multiple quotes from Minnesota car insurance providers through an online car insurance quote is your next step. Because the Minnesota car insurance industry is so competitive, this can translate to the consumer in the form of cheap rates. There are nationwide, statewide, and local car insurance providers who are all competing for your business in Minnesota. Research, on your part, should determine whether a nationwide company or a company geared towards a niche market will be able to suit your needs. The consumer will be left simply agog at the number of options which are available to you.
Competition Helps You Lower Your Minnesota Car Insurance Premiums
Due to the competitive nature of their field, Minnesota car insurance companies are actively seeking ways to encourage you to do business with them. With the increase of the popularity of the Internet in the last decade, most businesses are reaching out to the consumer through the World Wide Web. They are doing this by creating a way for a consumer to obtain a quick, no obligation Minnesota car insurance quote on their websites. These quotes are usually free, and your results generally appear within a few minutes. However, our website has elected to take this process one step further. We provide you with multiple quotes from multiple vendors in one simple step. This is simple to do and is always free.
Whenever you fill out the information for an online car insurance quote, you will be asked to give out a few questions about your personal information. These questions can include asking about your zip code, your vital statistics, and what kind of car you are attempting to insure. These questions will be enough to generate results for your quote. When you decide to engage a company's services, they will ask you to fill out a more detailed questionnaire. It should be noted that a quote is just an estimation of services. It is by no means a guarantee that a company will insure you.
As the Minnesota car insurance business has evolved, it has developed a complex system in which it assigns a risk value to you, as a driver. Certain characteristics about you, like your driving record or your age, are assigned a risk value. The sum of your risk value is then weighted against the national average claim rate of people who share your characteristics. This risk assessment will then determine your rates for auto insurance. The information you provide when you begin to fill out your online car insurance quote initiates the process. For example, the zip code you provide allows the Minnesota car insurance carrier to determine the crime rates in your neighborhood and how likely you are to be the victim of a crime. Your location, such as Rochester or Duluth, is then assigned a risk value which becomes part of your risk factor.
Statistics Used to Determine Minnesota Car Insurance Rates
Your vital statistics are one of the most important aspects in determining how high or low your rates will be. It is necessary, first and foremost, that you answer all of the questions honestly. Many Minnesota car insurance policies have an addendum that states if the policyholder is found to have falsified any information, such as your driving record history, the policy, and all subsequent claims, cannot be dismissed by the provider. Your age, marital status, gender, and driving history are all examples of questions you will be asked to answer. Risk values will be assigned to your answers accordingly. The risk metric system a Minnesota car insurance provider employs is highly developed, and it has become the go to standard for the industry. Typically, the group considered most risky to insure by a Minnesota car insurance provider are young males under the age of twenty five years of age. The group considered to have the lowest amount of risk to ensure comprises of married, middle aged women. While some aspects of your vital statistics, like age, you cannot control, there are others, like your driving record, you can ensure stay in good standing. Your decisions on how you drive will impact your premiums.
Use the online price comparison tools we offer to create your car insurance quote today. A general quote will allow you to have an idea of what company is likely to fulfill your needs. In today's economy, we all, including the residents of Minnesota, need to save money where we can. By obtaining your free online car insurance quote today, you can start yourself on the road to doing just that.
So what are you waiting for? Compare cost and coverage details from the Minnesota cities of the Twin Cities: Minneapolis and St. Paul, Bloomington, Duluth, St. Cloud, Rochester, Albert Lea, Alexandria, Austin, Bemidji, Brainerd, Fairmont, Faribault, Northfield, Fergus Falls, Hutchinson, Mankato, Marshall, New Ulm, Owatonna, Red Wing, Willmar, Winona, Worthington and more.