How long has it been since you sat down and looked for more competitive insurance rates in Brooklyn Park, MN? Scraping up a payment for pricey insurance in Brooklyn Park can sap your funds and possibly require postponing other expenditures.

It's astonishing, but the vast majority of drivers kept their coverage with the same insurance company for at least the last four years, and 38% of customers have never compared rates with other companies. Many drivers in the U.S. could pocket about 47% a year, but most just don't grasp the benefits if they switch to a new company.

You have so many auto insurance companies to pick from, and although it's nice to have a selection, lots of choices makes it harder to find the lowest cost provider.

It's a good idea to price shop coverage every six months because rates change frequently. Even if you think you had the best rate on insurance a few years ago there is a good chance you can find better prices now. Forget anything you know (or think you know) about insurance because I'm going to let you in on the secrets to how to use online quotes to properly buy coverages while reducing your premium.

Best companies for Minnesota auto insurance

The companies in the list below offer price comparisons in Brooklyn Park, MN. If more than one company is shown, we suggest you visit as many as you can to find the most competitive auto insurance rates.

Insurance Rate Estimates for Popular Vehicles in Brooklyn Park
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Silverado LS Crew Cab 4WD $900 $450 $75
Dodge Ram Crew Cab SLT 2WD $1,042 $521 $87
Ford Escape Limited 2WD $866 $433 $72
Ford F-150 Lariat Crew Cab Harley 4WD $1,088 $544 $91
Ford Focus SES 4-Dr Sedan $1,042 $521 $87
GMC Sierra SLT Crew Cab 2WD $1,192 $596 $99
Honda Accord LX 4-Dr Sedan $1,044 $522 $87
Honda CR-V EX-L 2WD $862 $431 $72
Honda Civic Hybrid 4-Dr Sedan $950 $475 $79
Hyundai Elantra Blue 4-Dr Sedan $1,002 $501 $84
Hyundai Sonata Limited 4-Dr Sedan $1,242 $621 $104
Jeep Grand Cherokee SRT-8 4WD $1,144 $572 $95
Nissan Altima 3.5 SR 2-Dr Coupe $1,462 $731 $122
Nissan Rogue S AWD $894 $447 $75
Toyota Camry XLE $1,184 $592 $99
Toyota Corolla LE $1,346 $673 $112
Toyota RAV4 Limited 4WD $1,128 $564 $94
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rates do not factor in Brooklyn Park location which can revise coverage rates greatly.

How careless driving impacts car insurance rates

The illustration below shows how speeding tickets and fender-benders increase Hyundai Elantra yearly insurance costs for different categories of driver ages. The costs are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.

Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.

How high should deductibles be?

A question often asked by Brooklyn Park drivers is which deductibles should you choose. The following insurance rates may help to conceptualize the rate fluctuation when you select higher and lower deductibles. The first data table uses a $250 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.

Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.

Nissan Sentra insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $214 $414 $318 $18 $94 $1,083 $90
Sentra 2.0 S $214 $486 $318 $18 $94 $1,155 $96
Sentra 2.0 SR $214 $486 $318 $18 $94 $1,155 $96
Sentra 2.0 SL $246 $486 $318 $18 $94 $1,187 $99
Sentra SE-R $246 $486 $318 $18 $94 $1,187 $99
Sentra SE-R SPEC V $246 $560 $318 $18 $94 $1,261 $105
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Nissan Sentra insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $132 $260 $318 $18 $94 $822 $69
Sentra 2.0 S $132 $306 $318 $18 $94 $868 $72
Sentra 2.0 SR $132 $306 $318 $18 $94 $868 $72
Sentra 2.0 SL $152 $306 $318 $18 $94 $888 $74
Sentra SE-R $152 $306 $318 $18 $94 $888 $74
Sentra SE-R SPEC V $152 $352 $318 $18 $94 $934 $78
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rates do not factor in specific location which can modify premiums greatly.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you approximately $25 more each month or $300 annually than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 30 months between claims, you would more than likely save some money if you opt for a higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $250 deductibles: $98
Average monthly premium for $1,000 deductibles (subtract): - $73
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

One big caveat is that increasing deductibles to save money means you will have to pay more out-of-pocket when you have to file a claim. You should have some extra savings in the event you need to pay the deductible for vehicle repair.

Rate difference between full and liability-only coverage

The information below visualizes the comparison of Toyota Corolla insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no violations or claims, $500 deductibles, married male driver, and no discounts are applied to the premium.

Toyota Corolla rates are for example purposes only. To get rates for your specific vehicle, click here.

Deciding between full coverage and liability only

There is no set rule to delete physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let's pretend your Toyota Corolla claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $3,000 after paying your policy deductible. If you are paying in excess of $300 annually to have full coverage, then it could be time to drop full coverage.

There are some conditions where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Save with these seven discounts

Car insurance companies don't list every discount they offer very well, so the below list has a few of the more well known and the more hidden discounts that you can inquire about if you buy Brooklyn Park auto insurance online.Cheaper auto insurance with discounts

Drivers should understand that most of the big mark downs will not be given to your bottom line cost. Most cut specific coverage prices like physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, that's just not realistic.

Large auto insurance companies and some of the premium reductions they offer are included below.

When comparing rates, check with every insurance company how many discounts you can get. Some of the earlier mentioned discounts might not be available to policyholders in every state. To find auto insurance companies who offer online auto insurance quotes in Brooklyn Park, click here.

Your situation helps dictate your coverage

When it comes to choosing insurance from an agent or online, there really isn't a single plan that fits everyone. Everyone's situation is unique and your car insurance should be unique as well.Higher deductibles save money Here are some questions about coverages that could help you determine whether your personal situation will benefit from professional help.

If you can't answer these questions but a few of them apply, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

Insurance in the media

Insurance companies such as Progressive, GEICO, Allstate and State Farm consistently run television, radio, and online ads. All the ads advertise claims that drivers can save some big amount if you just switch your coverage to them. How do they all offer drivers better rates? Just pay attention to how they say it.

Insurance companies have specific characteristics for the driver that earns them the most money. One example of a desirable risk might be described as a married male, has a clear driving record, and has excellent credit. Anyone who fits those characteristics will probably get cheap car insurance rates and have a good chance to save quite a bit of money when switching.

Insureds who are not a match for this stringent profile must pay more expensive rates and this results in business not being written. If you listen to the ad wording, they say "customers who switch" not "all people who quote" save that much money. That's the way insurance companies can confidently advertise the way they do.

This really illustrates why you need to get a wide range of price quotes. It is impossible to guess which company will provide you with the cheapest insurance in Brooklyn Park.

Coverages available on your auto insurance policy

Understanding the coverages of auto insurance helps when choosing the right coverages for your vehicles. The terms used in a policy can be ambiguous and coverage can change by endorsement. These are typical coverages available from auto insurance companies.

Comprehensive protection - Comprehensive insurance will pay to fix damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as a tree branch falling on your vehicle, hail damage and theft. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle's value is low it's probably time to drop comprehensive insurance.

Lowest and Highest Auto Insurance Comprehensive Claims by Vehicle Model
Lowest Claim Frequency Highest Claim Frequency
Chevy Spark Bentley Continental GTC
Nissan Xterra Maserati Granturismo
GMC Sierra 2500 Mercedes-Benz S Class
Nissan Leaf BMW M6
Chevy Silverado 2500 Porsche Panamera GTS
Smart ForTwo Bentley Continental GT

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Liability insurance - Liability coverage can cover damages or injuries you inflict on a person or their property in an accident. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 30/60/10 which means $30,000 in coverage for each person's injuries, a limit of $60,000 in injury protection per accident, and a limit of $10,000 paid for damaged property. Some companies may use a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability can pay for claims like court costs, legal defense fees, loss of income and emergency aid. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible. Minnesota requires minimum liability limits of 30/60/10 but it's recommended drivers buy more liability than the minimum.

Auto Insurance Liability Claims by Vehicle Make and Model
Lowest Claim Frequency Highest Claim Frequency
Mercedes-Benz SL Class Kia Optima
Volvo XC60 Chrysler 200
Acura MDX Mitsubishi Lancer
Subaru Outback Mitsubishi Mirage
Subaru Forester Chevrolet Sonic
Chevrolet Corvette Kia Rio

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Medical expense coverage - Coverage for medical payments and/or PIP provide coverage for short-term medical expenses like surgery, hospital visits, funeral costs, rehabilitation expenses and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage

Medical Payment Coverage Claims by Vehicle Model
Lowest Claim Frequency Highest Claim Frequency
Ford F-350 SuperCrew Mitsubishi Mirage
Ford Expedition Chrysler 200
Audi A4 Allroad Mitsubishi Lancer
Chevrolet Silverado 2500 Kia Forte
Tesla Model S Nissan Sentra
Chevrolet Corvette Hyundai Accent

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Uninsured or underinsured coverage - Your UM/UIM coverage protects you and your vehicle's occupants when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle's occupants as well as damage to your vehicle.

Due to the fact that many Minnesota drivers carry very low liability coverage limits (Minnesota limits are 30/60/10), their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Usually these limits are identical to your policy's liability coverage.

Collision - This coverage covers damage to your vehicle resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like sustaining damage from a pot hole, scraping a guard rail, colliding with a tree, hitting a parking meter and damaging your car on a curb. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Collision Claims by Vehicle
Lowest Claim Frequency Highest Claim Frequency
Ford Edge Maserati Granturismo
Nissan Xterra Bently Continental GT
Smart ForTwo Nissan GT-R
Ford F-150 SuperCrew Maserati Ghibli
Mini Cooper Audi RS7
Chevrolet Colorado BMW 6 Series

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

One last thing about your coverage

As you restructure your insurance plan, never skimp on critical coverages to save a buck or two. There are a lot of situations where someone sacrificed physical damage coverage only to regret at claim time that the savings was not a smart move. The goal is to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.

We just presented a lot of tips how to reduce insurance premium rates online in Brooklyn Park. The most important thing to understand is the more providers you compare, the higher the chance of saving money. You may even find the lowest premium rates are with a small mutual company. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.

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