Auto Insurance

Auto Insurance

When it comes to Auto Insurance, there are a wide variety of coverage options and policies available. Whether you are in search of a new policy, shopping around for a better rate, or just have questions about the many types of coverage available, we are here to help you.  Wellner Palmquist Insurance Agency is an independent agent that works closely with over 15 national insurance providers to ensure that you are getting the highest quality policy at a competitive price.

Every motorist in Minnesota is required to have auto insurance, whether you are in Rogers,  Maple Grove, Brooklyn Park, or Plymouth. Minnesota law sets minimum requirements for each and every insurance policy, but do these minimum requirements offer the coverage that you need for you and your vehicle? Let’s take a look at what is required by Minnesota law, as well as optional coverages that are available to better protect you and your vehicle.

Required Coverage

No-Fault Personal Injury Protection (PIP)

Minnesota is one of 12 states with no-fault auto insurance requirements. No-fault insurance covers damages related to an accident, regardless of who is at fault. Personal Injury Protection (PIP) Insurance is a required no-fault coverage. Personal Injury Protection insurance provides coverage for injury-related expenses incurred by you or your passengers regardless of who is responsible for an accident. This coverage protects you, your children and members of your household, and passengers who do not own a vehicle in Minnesota.  Passengers with Personal Injury Protection insurance are covered under their own policies for their injuries.  

Liability Insurance

Liability Insurance is also a required coverage in the state of Minnesota. Liability insurance will only provide coverage for damages or injuries to others when you are at fault. If you were to cause an accident, the other driver’s PIP will take effect first, followed by your liability insurance.

Uninsured/Underinsured Motorist Coverage

Uninsured/underinsured motorist coverage is the final type of required auto insurance in Minnesota. Even though auto insurance is required by law, many drivers still continue to drive without it. Uninsured motorist coverage covers costs above the limits of your PIP insurance. Underinsured motorist coverage will cover costs above your PIP as well as the at-fault driver’s liability insurance.  

Minnesota Minimum Requirements

Bodily Injury – $30,000 to one person, $60,000 to all persons.  

Property Damage – $10,000 per accident

No-fault Personal Injury Protection – $20,000 for medical coverage, $20,000 for loss of income.

Uninsured/Underinsured Motorist – $25,000 to one person, $50,000 to all persons.

Optional Coverage

There are also many optional coverage types available such as collision coverage, comprehensive coverage, loan/lease gap coverage, rental car coverage, and roadside assistance/towing coverage. Collision and comprehensive coverage are very common policy additions. These two forms of coverage are available to protect the investment you have made in your vehicle. 

Collision Coverage

In the event you were to hit another car, an object in the road, or were to overturn your car, collision coverage will cover any damages caused up to your policy limit. Your bank or lender may require you to have some degree of collision coverage if you have financed or leased a vehicle. Keep in mind that as older vehicles lose value, collision coverage loses its value as well. It may make sense to drop collision coverage on older vehicles that have depreciated substantially.

Comprehensive Coverage

Comprehensive coverage is available to protect your vehicle when it is damaged by something other than a collision. This particular coverage would include protection against damages caused by vandalism, fire, theft, natural disaster, and other non-collision related damage.

At Wellner Palmquist Insurance Agency, not only do we offer great coverage, but we offer a variety of discounts to save you the most money on your auto insurance policy. These include multi-policy discounts, paid in full discounts, education discounts, defensive driving discounts, vehicle safety discounts, and much more. Our goal is to make sure we’ve found each and every discount that you qualify for. We even offer discounts on AAA memberships!   

If you are have any questions about policy requirements or choosing a new auto insurance policy, please contact us at (763) 420-6750. The Wellner Palmquist Insurance Agency 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!