Minnesota Statutes 65B.50 – Insurers’ Certification of Basic Coverage
Subdivision 1.Filing.
Every insurer licensed to write motor vehicle accident reparation and liability insurance in this state shall, on or before January 1, 1975, or as a condition to such licensing, file with the commissioner and thereafter maintain a written certification that it will afford at least the minimum security provided by section 65B.49 to all policyholders, except that in the case of nonresident policyholders it need only certify that security is provided with respect to accidents occurring in this state.
Subd. 2.Contacts of liability insurance as security covering the vehicle.
Terms Used In Minnesota Statutes 65B.50
- Contract: A legal written agreement that becomes binding when signed.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Terms Used In Minnesota Statutes 65B.50
- Contract: A legal written agreement that becomes binding when signed.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Notwithstanding any contrary provision in it, every contract of liability insurance for injury, wherever issued, covering obligations arising from ownership, maintenance, or use of a motor vehicle, except a contract which provides coverage only for liability in excess of required minimum tort liability coverages, includes basic economic loss benefit coverages and residual liability coverages required by sections 65B.41 to 65B.71, while the vehicle is in this state, and qualifies as security covering the vehicle.