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Most states require all drivers to carry auto liability insurance that meets the state minimum requirements. However, drivers can invest in more than just auto liability coverage. Drivers have many coverage options. Our Sandy, UT team at The Smith Insurance Group Inc. is committed to helping drivers find coverage that meets their needs.
Auto Insurance Requirements
Most states require all drivers to carry liability insurance that meets the state minimum levels, regardless of whether you have a car loan or not. All drivers must carry liability insurance. However, other circumstances may require you to carry more than liability coverage. Minnesota also requires drivers to carry uninsured motorists’ coverage and personal injury protection coverage.
I don’t have a Car loan. Do I still need Auto Insurance?
Yes. You still need to carry auto liability insurance. However, if you have a late-model car, investing in more than just liability coverage may be wise. Likely, you won’t be able to pay for damage to your vehicle out of pocket. One rule of thumb is to carry full coverage insurance if your car’s value exceeds your annual insurance premium. Your car’s value may justify paying for full coverage if its value is less than what you’re paying in insurance costs. For example, the odds of your car being totaled is greater if the value of your vehicle is less than the cost of repairing it. If you have more questions about auto insurance, call us. We’d be happy to help you explore your options.
