Auto Insurance in Shoreview, MN
Auto insurance can play a critical role in your ability to manage the difficult aftermath of accidents and other incidents involving your vehicle. These policies consist of various financial protections, and at least certain levels of coverage are generally required by law. Given these stakes and responsibilities, you should prioritize fully understanding how this type of insurance functions and the available options.
How Auto Insurance Works 
Also known as car insurance, auto insurance policies establish a legal agreement between you and your insurer. In exchange for your regular (e.g., monthly or annual) premiums, your insurance company agrees to provide financial assistance in response to covered losses, which may limit unanticipated, out-of-pocket expenses and stave off costly burdens.
Full coverage car insurance generally comprises several components, each covering certain losses or incidents. For example, third-party bodily injury and liabilities coverages—which are usually required by law—can help pay for other parties’ losses for which you may be responsible, such as if you strike a pedestrian or crash into a building.
Similarly, collision coverage can provide aid if your insured vehicle is damaged in a crash. Comprehensive coverage may financially protect it from other incidents, such as fires, theft and severe weather. Other advisable features may include medical payments coverage and uninsured/underinsured motorist coverage.
How Auto Insurance Deductibles Work
Your auto insurance deductible is a crucial clause in your policy. This specification generally determines how much you must pay out of your own pocket in a single plan year before your insurance company will begin to contribute toward covered losses. For example, if your insured vehicle suffers $3,000 worth of damage in a crash and you have a collision coverage deductible of $1,000, you are responsible for paying the first $1,000 toward repairs, after which your policy can cover the remaining $2,000. Generally, higher deductibles may help reduce your premiums; in exchange for lower regular costs, you agree to pay more out of pocket when necessary.
Where to Get Car Insurance
As an experienced car insurance broker in Shoreview, MN, Dean Olson Insurance Agency is well-positioned to help you assess your coverage needs and secure a comprehensive car insurance policy. With a catalog of more than 50 insurance carriers, we can place most risks. At the same time, we typically can offer more expensive coverage at a better price than most competitors in the industry. Contact us today to learn more or to get a personalized auto insurance quote.