Even the most careful drivers can sometimes cause collisions—particularly in the winter when snow and ice make driving in Woodbury hazardous. That is why Minnesota vehicle owners are required to have car insurance. From fender benders on Valley Creek Road to multi-car pile-ups on I-494, a reliable auto insurance policy can shield you from large financial losses after an accident.
Shopping for car insurance is stress-free when you work with an independent agent in Woodbury. These agents can provide you with a variety of car insurance quotes so you can be certain you are getting your policy at the best price.
How Much Does Auto Insurance Cost in Woodbury, Minnesota?
Minnesota is the 39th most expensive state for car insurance. The average car insurance rate in this state is lower than the national average, but in Woodbury, rates tend to be more expensive.
- National average annual car insurance cost: $1,311
- Minnesota average car insurance cost: $1,222
- Woodbury average annual car insurance cost: $1,695
Car insurance costs can vary significantly from one driver to the next, so you should only use these average rates to get a ballpark idea of what your costs might be. This is because rate are calculated according to several different factors, including:
- The make, model, year of the vehicle(s) you are insuring
- Your age, driving record, and credit score, and details about other drivers in your household
- The approximate number of miles you drive your vehicle each year
- Whether you own or rent your home
- The and auto theft and accident rates in the vicinity of your home
- Whether you are bundling your coverage with another policy like home insurance or renters insurance
- Whether you qualify for any other available discounts
Because every insurance company has a different way of calculating rates, shopping around for coverage can save you money. Independent agents in Woodbury make comparison shopping easy.
Minnesota Car Insurance Requirements
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Required
- Uninsured motorist coverage: Required
- Minimum liability limits: 30/60/10; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $10,000 coverage for property damage.
A basic policy that just meets Minnesota’s minimum coverage requirements can provide you with the coverage you need in the case of most collisions. However, if you are responsible for a major accident that causes serious injuries, the resultant costs can easily exceed your policy’s coverage limits. In that case you would be responsible for making up the different out of pocket.
That is why many Woodbury vehicle owners choose to purchase car insurance that has higher-than-required liability coverage. Some people even purchase umbrella insurance policies to boost their liability coverage even higher. An independent agent can help you get the liability coverage you want at the most affordable price.
Number of Uninsured Motorists in Minnesota
If you are caught operating an uninsured vehicle in Minnesota, you can be penalized with fines of up to $3,000, the suspension of your license, and, potentially, even jail time. Despite this, one in ten drivers you are sharing the roads with in this state does not have car insurance.
- How many US drivers are uninsured? 12.6%.
- How many Minnesota drivers are uninsured? 10.8%.
If you are in an accident that is caused by an uninsured driver, that person is responsible for paying for the damage and any necessary medical treatment. Unfortunately, it can be very difficult and time-consuming to collect this money, especially if the at-fault driver simply doesn’t have it. Uninsured motorist coverage was created to eliminate this risk.
Uninsured motorist insurance is optional in many states, but it is required in Minnesota. This insurance covers your damage and injuries if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will then absorb the costs if they are unable to collect the compensation owed by the at-fault driver.
Number of Auto Thefts in Woodbury, MN
The auto theft rate in Minnesota is lower than the national average. In Woodbury, the risk is even lower. This does not mean that the threat is nonexistent, however; there are about 40 cars stolen in this city each year.
- National auto theft rate per 1,000 vehicles: 2.94
- Minnesota auto theft rate per 1,000 vehicles: 1.74
- Woodbury auto theft rate per 1,000 vehicles: 0.60
You must have comprehensive, or “other than collision,” insurance in order to be compensated for an auto theft. This insurance is optional, but most lenders will require that you have it until your loan is paid in full. Comprehensive insurance also provides compensation for other non-collision damage such as that caused by falling objects, floods, and fires.
Why Work with an Independent Insurance Agent?
As a vehicle owner in Woodbury, you can turn to a local independent agent for help when you are searching for the best car insurance. These agents are free to work with a variety of insurance companies to help you find reliable and affordable coverage.
Find an agent in or near Woodbury to learn more. You can start comparing customized, competitively priced auto insurance quotes in no time.
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