Auto insurance is ..
Protection. Insurance is a way of transferring risk for a loss among
a certain group of people. You, and others, pay premiums to an insurance
company to be reimbursed if you have an accident. The amount you can collect
and under what circumstances are outlined in your policy.
Required. Under most circumstances, a licensed vehicle in the
state of Minnesota must have liability, personal injury protection, uninsured
motorist, and underinsured motorist coverage. These types of coverage are
described below.
Varied. The State of Minnesota has established minimum policy
requirements. Many people, however, choose options that exceed these minimum
requirements, thereby increasing the cost of the policy.