| What is the FAIR Plan?
The Minnesota FAIR Plan was created by an act of the Minnesota
Legislature. The purpose of the FAIR plan is to provide limited
property insurance when coverage is not available from the
private market, to encourage improvement of the properties
insured by the FAIR Plan and to help speed our customer's return
to the private market for their property insurance coverage.
 We
cannot compete with private insurance companies. The
policies that we write are not as desirable as those
available from private insurance companies, and they cost
more than private insurance companies charge. The
coverage provided by the FAIR Plan is Non-Replacement, and
only for a limited number of causes of loss. Private
insurance companies, on the other hand, often write
Replacement Cost coverage as well as coverage for a greater
number of causes of loss.
If you own residential or commercial property in Minnesota
and have been unable to obtain property insurance, you may be
eligible for coverage if your property meets minimum
requirements. |
