Are there other types of auto insurance coverage available other than those required by law?
Minnesota personal injury attorney Mike Unger discusses different types of car insurance.
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So some people wanna know whether or not they can have other insurance coverage for auto accidents that goes above and beyond what’s required by law. There are other kinds of coverages available.
For example, in the required coverage area, uninsured, underinsured motorists and liability coverages, most insurers in Minnesota will sell you higher amounts of coverage for slightly more in premium so you can increase the amount of coverage even over above what’s required by law.
Another kind of additional coverage which isn’t required by law, but some people utilize is what we call umbrella coverage. Umbrella is a funny word for it. If you think of an umbrella as something you hold over the top of you to protect you from the rain. Well the idea of an umbrella coverage is it’s another layer, a separate policy of coverage over and above what you have as your basic coverage and it’s designed to protect you from financial catastrophe in the event of a very, very serious accident.
So umbrella coverage will increase your liability limits and it may in some circumstances increase your uninsured and underinsured coverage as well. There aren’t many companies that offer uninsured and underinsured coverages as part of umbrellas coverage, but there are a few and you have to look for them to find them.