Auto Insurance

Every motorist in Minnesota is required to have auto insurance, whether you are in Maple Grove, Brooklyn Center, Brooklyn Park, or Minneapolis. If you a first-time driver in need of a new policy, looking for a lower rate on your current policy, or have questions about coverage available, we are here to help you. At Peyer Insurance Group, we work exclusively with carriers with an A rating by the Better Business Bureau to ensure that you are getting a quality policy at a competitive price.

Minnesota insurance laws set minimum requirements for each and every insurance policy, but the minimum requirements may not provide adequate coverage for your vehicle. Let’s take a look at what is required by Minnesota law, as well as optional coverages that are available to offer increased protection.

Required Coverage
Minnesota law requires driver’s to have two types of liability coverage which are Property Damage, and Bodily Injury coverage. These two types of liability protection will cover damages or injuries to others or their property when you are at fault.

Personal Injury Protection insurance provides coverage for injury-related expenses incurred by you or your passengers. Minnesota is one of 12 no-fault states meaning damages are covered regardless of who is at fault. Passengers with Personal Injury Protection insurance are covered under their own policies for their injuries.

Uninsured and underinsured motorist coverage are the final requirements. These two coverages offer protection if you are involved in an accident with someone who does not have sufficient insurance, or who does not have insurance at all.

Minimum Requirements
Bodily Injury Liability: $30,000 per person and $60,000 per accident
Property Damage Liability: $10,000
Personal Injury Protection (PIP): $40,000
Uninsured Motorist Coverage: $25,000 per person and $50,000 per accident
Underinsured Motorist Coverage: $25,000 per person and $50,000 per accident

Optional Coverage
There are also many optional coverage types available to Minnesota drivers such as collision coverage, comprehensive coverage, rental car coverage, loan/lease gap coverage, and roadside assistance/towing coverage. Collision and comprehensive coverage are the two most common policy additions.

In the event you were to hit another car or perhaps an object in the road, collision coverage will cover damages up to your policy limit. If you have financed or leased a vehicle it is not uncommon for your bank or lender to require some degree of collision coverage. One thing to keep in mind is that as older vehicles lose value, collision coverage loses its value as well. It may not be beneficial to have collision coverage on older vehicles that have depreciated substantially.

Comprehensive coverage is designed to protect your vehicle when it is damaged by something other than a collision such as vandalism, fire, theft, natural disaster, and other non-collision related damage.

If you are have any questions about policy requirements in Minnesota or if you just want to see if you can lower your current rate, please contact us at 763-566-1030. The Peyer Insurance Group is committed to helping you choose an affordable policy that meets all of your coverage needs.  You may use our Auto Insurance Tool to get started as well!


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