Auto Insurance

The right auto insurance policy can help get you back on the road quickly if your vehicle is damaged or destroyed by accident, fire, theft or other covered event. Your policy also may provide protection against medical and legal expenses resulting from injury, loss of life or property damage caused by an accident involving your vehicle.

An auto insurance policy is a contract between you and an insurance company. You pay a premium, and in exchange, the insurance company promises to pay for specific vehicle-related financial losses during the term of the policy.

Work with Minnesota Lakes Insurance to determine the best coverage for you.

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In addition to cars, trucks and boats, Minnesota Lakes Insurance can insure motorcycles, classic cars, motor homes & recreational vehicles (RV), all terrain vehicles (ATV) and Jet Skis®.

Did you know that auto insurance requirements vary by state? As insurance experts, we understand auto insurance requirements in all states and are ready to help you ensure you have the right coverage for where you live. In some states, to legally drive, you must carry certain types of coverage, such as:

     

  • Liability coverage – to pay for losses you cause others, or:
  • No-fault coverage – to pay you and your passengers for medical and related expenses caused by injuries from a car accident, regardless of who is at fault, or:
  • Both liability and no-fault coverage

 

Even in states where coverage isn’t required, drivers must, by law, be able to pay for losses they cause others. Having insurance is the simplest way for most people to comply.

To finance a car, it is usually necessary to have insurance which covers damage to your vehicle. Here are two types of insurance coverage to consider:

Collision Insurance

Collision insurance coverage pays for damage caused to your vehicle in an automobile accident. Standard collision coverage will pay for any repairs up to the fair market value of your car. Collision coverage usually also comes with an insurance deductible. It’s the amount of money you pay toward repairs before your collision insurance kicks in. The higher the deductible you’re willing to pay, the less the collision coverage will cost.

Comprehensive Insurance (other than collision)

Comprehensive insurance covers damage done to your car in some way other than a collision, such as theft or vandalism. Flood, hurricane, windshield damage and fire are also events usually covered by comprehensive car insurance. Like collision, comprehensive will pay up to the fair market value of your car (less your insurance deductible). And although it’s not legally required by any state, you will probably need it if your car is financed.

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