Knowing Your Auto Liability
Insurance Limits

Posted May 16th, 2012 @ 05:05pm by: Mitch

Some people only think about their auto insurance when their bill comes in the mail or if they get in an accident. Would you know what coverage you had if you got in an accident today? Don't beat yourself up if you say "no", we see that a lot when talking to new customers, but today is a great day to fix that.

The State minimums for auto liability in Minnesota are 30/60/10. What does that even mean? Great question, let me break it down for you;

  • The 30 means: $30,000 for injuries to one person per accident
  • The 60 means: $60,000 for injuries to two or more people per accident
  • The 10 means: $10,000 for physical damage to the other driver's vehicle or damage to property

We see that people take the minimum coverage because they think it will cost less, and what the coverage actually means wasn't explained to them. In reality, taking the increased limits of 100/300/100 or even 250/500/250 can cost less than the 30/60/10 coverage.

What kind of injuries will cost less than $30,000?

And if you have four people with you there is a limit of $60,000 for all 4 people. That's $15,000 per person. As for the physical damage, hitting a light pole can cost up to $16,000 and what if you total out a nice new SUV that costs $60,000? Yup, $50,000 will be coming out of your pocket.

Since you have insurance and are paying your hard earned money for it, shouldn't you know what your insurance coverages are and what they mean? If you would like a free, no obligation insurance check up, call or stop in today and we would be happy to go over your current insurance policy with you.

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