Get Vehicle Insurance
Reader’s Question:
Can you give me some tips on how to get vehicle insurance that’s cheap yet has enough coverage?
Carol
St. Paul, MN
If you want to get vehicle insurance that’s cheap but has enough coverage, you may ask your insurance carrier to give you the minimum insurance required by the state of Minnesota. This minimum insurance requires that you have liability, PIP, underinsured, and uninsured coverage.
The minimum requirement for liability coverage is 30/60/10. This figure stands for $30,000 liability on the bodily injuries of one person, $60,000 bodily injuries of two or more persons (as long as all injuries were acquired in a single accident), and $10,000 worth of liability for physical damages made to other vehicle/s involved and to other property damages.
For Personal Injury Protection (PIP), you should cover $40,000 for each person per accident. This figured is composed of $20,000 worth of medical expenses and $20,000 worth of non-medical expenses like lost wages and replacement fees.
For the underinsured motorist liability, the minimum coverage is $25,000 for bodily injuries of one person and $50,000 for two or more persons.
For the uninsured motorist liability, $25,000 worth of coverage is required for one injured person, and $50,000 is required for two or more persons.
If you think that by getting the just minimum required coverage is not enough for you to get vehicle insurance that’s cheap enough, you may try checking with the insurance company if they offer discounts that are applicable to you.