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Vicarious Liability Limits


Minnesota Statute §65B.49 Biennial Limits requires the Commissioner of Commerce to adjust the Vicarious Liability Limits Applied to Owners of Rented Motor Vehicles every other year.   Here are the updated numbers, to be effective 1/1/2015.

Vicarious Liability Limits Applied to Owners of Rented Motor Vehicles

 

Date Effective
Bodily Injury for one person
Bodily Injury per accident
Property Damage
1/1/1995
100,000
300,000
50,000
100,000 305,000
50,000
1/1/1999
105,000
320,000
50,000
110,000
335,000
55,000
1/1/2003
115,000
350,000
55,000
120,000
370,000
60,000
1/1/2007
130,000
395,000
65,000
140,000
430,000
70,000
1/1/2011
140,000
425,000
70,000
150,000
450,000
75,000
1/1/2015
155,000
465,000
75,000


The dollar amounts stated in this paragraph shall be adjusted for inflation based upon the consumer price index for all urban consumers, known as the CPI-U, published by the United States Bureau of Labor Statistics. The dollar amounts stated in this paragraph are based upon the value of that index for July 1995, which is the reference base index for purposes of this paragraph. The dollar amounts in this paragraph shall change effective January 1 of each odd-numbered year based upon the percentage difference between the index for July of the preceding year and the reference base index, calculated to the nearest whole percentage point. The commissioner shall announce and publish, on or before September 30 of the preceding year, the changes in the dollar amounts required by this paragraph to take effect on January 1 of each odd-numbered year. The commissioner shall use the most recent revision of the July index available as of September 1. Changes in the dollar amounts must be in increments of $5,000, and no change shall be made in a dollar amount until the change in the index requires at least a $5,000 change.