What Does Full vs. Minimum Mean?
Full vs. minimum refers to full coverage versus state minimum liability.
Full coverage generally consists of three types of policies: liability, collision, and comprehensive, protecting against a broader range of scenarios, including crash-related events (e.g., vehicle-to-vehicle collisions) or non-collision-related events like theft and vandalism.
In turn, state minimum liability provides liability coverage including bodily injury/death liability and property damage liability. Since Minnesota is a no-fault state, your liability coverage will be used to help pay for your injuries and damage, regardless of who is at fault in an accident.
Most no-fault states like Minnesota also require some form of additional medical coverage, such as Personal Injury Protection (PIP), as well as uninsured motorist coverage (UM).
Remember, you can adjust coverage limits regardless of whether your insurance policy is full or state minimum liability. Feel free to adapt your bodily injury and property damage liability limits above and beyond Bloomington’s required 30/60/10 minimums. To be safe, opt for a 100/300/100 policy if you can afford it. With the average cost of a new vehicle now over $40,000 with the ever-increasing cost of vehicle parts and labor due to today’s macroeconomic conditions, a 100/300/100 policy may be more appropriate.