Minnesota Commercial Auto Insurance
Do I need Minnesota commercial auto insurance?
Let’s start with what commercial auto insurance is. It’s any car, truck, or van used for business. Even when you drive your personal auto for business it is most likely considered a commercial vehicle. In the State of Minnesota, you are required to maintain auto insurance, both personal or business.
Here are the minimum limits for Minnesota:
$30,000 per person – bodily injury liability
$60,000 per occurrence – bodily injury liability
$10,000 in property damage coverage
$40,000 personal injury protection (no-fault)
$25,000 per person – uninsured/underinsured motorist bodily injury liability
$50,000 per occurrence – uninsured/underinsured motorist bodily injury liability
Now, these minimums would be foolish to carry today. Most common are $300,000, $500,000 and $1,000,000 limits for business autos these days.
Do the vehicles need to be in the company name?
Absolutely! Coverage can be denied if the company has no interest in the auto, truck, or van. It’s very important the titling be correct. If the title can’t be changed because of a lienholder/loan, often times a leaseback is the solution.
Finding commercial auto insurance quotes in Minnesota
We make it easy to find low-cost business auto insurance in Minnesota. Working with numerous companies we shop out the best coverage and price. Many times, business auto insurance is written with the same company as general liability insurance and workers compensation insurance. This makes it convenient, however, it does not always yield the lowest cost. But quoting multiple carriers for you normally provides the best results. It’s easy to present a quote to a client when you know it’s a very good one.
Now it’s time to contact us. Feel free to ask some questions, provide your information once and we will shop multiple companies. Do yourself a favor and request your quote online or just pick up the phone now. You will be happy you did.