Are you looking for low-cost Honda CR-V insurance in Minneapolis? No car owner is fond of buying auto insurance, especially when the cost is too high.
Remarkably, a study showed that the vast majority of auto insurance customers have remained with the same auto insurance company for at least four years, and 38% of customers have never shopped around. Many drivers in Minneapolis can cut their rates by about 50% a year by just shopping around, but they just don't want to save money by comparing rate quotes.
Lots of auto insurance companies contend for your business, and it can be difficult to compare rates to find the absolute best price available on Honda CR-V insurance in Minneapolis.
It's a great practice to compare rates every six months because insurance rates change frequently. Just because you had the best deal on Honda CR-V insurance in Minneapolis two years ago the chances are good that you can find a lower price today. Forget anything you know (or think you know) about auto insurance because it's time to teach you the only way to save money, get proper coverage and the best rates.
Low-cost Honda insurance rate quotes in Minneapolis
The companies in the list below are ready to provide price quotes in Minnesota. If more than one company is shown, it's highly recommended you visit several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$184||$332||$304||$18||$92||$930||$78|
|CR-V EX 2WD||$150||$282||$304||$18||$92||$846||$71|
|CR-V LX 4WD||$132||$214||$270||$16||$80||$712||$59|
|CR-V EX 4WD||$212||$344||$258||$16||$78||$908||$76|
|CR-V EX-L 2WD||$154||$228||$254||$14||$76||$726||$61|
|CR-V EX-L 4WD||$130||$220||$304||$18||$92||$764||$64|
|Get Your Own Custom Quote Go|
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Estimates do not factor in specific garaging location which can decrease or increase coverage prices substantially.
How high should deductibles be?
The chart below illustrates how your choice of deductibles and can raise or lower Honda CR-V annual premium costs for each age group. The data is based on a married female driver, comp and collision included, and no discounts are applied to the premium.
Difference between full coverage and liability only rates
The illustration below illustrates the comparison of Honda CR-V insurance prices with full coverage and liability only. The premiums are based on no accidents, no driving violations, $1,000 deductibles, married female driver, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no exact rule to eliminate comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let's assume your Honda CR-V book value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,000 after you pay the deductible. If you are currently paying more than $700 a year for your policy with full coverage, then it might be time to buy liability only.
There are a few situations where removing full coverage is not recommended. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.
Yearly auto insurance costs for men versus women
The example below shows the comparison of Honda CR-V insurance rates for male and female drivers. The information is based on no claims, a clean driving record, full coverage, $500 deductibles, drivers are single, and no other discounts are factored in.
How do Car Insurance Companies Determine Honda CR-V Insurance Prices?
One of the most helpful ways to save on insurance is to to have a grasp of some of the factors that are used to determine your premiums. If you have some idea of what controls the rates you pay, this allows you to make good choices that could result in cheaper rates.
Pay more out-of-pocket - The deductibles tell how much you are willing to pay out-of-pocket before your insurance pays a claim. Physical damage protection, termed comprehensive and collision coverage on your policy, protects your car from damage. Some coverage claims could be rearending another vehicle, damage from fire, and damage caused by road hazards. The more expense you are required to pay out-of-pocket, the less your insurance will be.
Is your car built for speed? - The performance level of the car you drive makes a substantial difference in how high your rates are. The lowest base rates are for economy passenger cars, but the final cost of insurance is determined by many other factors. Because the Honda CR-V falls in the standard SUV class, insuring your vehicle will cost slightly more when compared to the average rates in Minneapolis.
Theft deterrents save - Selecting a car model with anti-theft technology or alarm system can get you a discount on your insurance. Systems that thwart thieves like GM's OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your car from being stolen.
Reserve policy claims for larger damages - If you file a lot of claims don't be surprised to see either policy cancellation or increased premiums. Insurance companies in Minnesota provide the best rates to people who are claim-free. Your insurance policy is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.
Safer occupants lowers rates - Vehicles that have high safety ratings get lower rates. Highly rated vehicles have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims which can result in lower premiums.
Traffic violations hurt - Even one moving violation could increase your next policy renewal twenty percent or more. Drivers with clean records have lower premiums than people who have multiple driving citations. Drivers who have gotten multiple citations such as DWI, reckless driving or hit and run convictions may find that they have to to complete a SR-22 with their state motor vehicle department in order to legally drive a vehicle.
Get better rates if married - Having a wife or husband may save some money when shopping for insurance. Marriage generally demonstrates drivers are more mature and responsible it has been statistically shown that married drivers tend to have fewer serious accidents.
Honda CR-V insurance loss statistics - Insurance companies analyze claim trends for every vehicle to calculate a price that will offset any claims. Models that are shown to have higher losses will cost more for coverage.
The next table shows the collected loss data for Honda CR-V vehicles. For each policy coverage, the claim amount for all vehicles, as a total average, equals 100. Percentages below 100 represent a good loss history, while numbers above 100 indicate higher probability of having a loss or tendency to have larger claims.
Honda CR-V Insurance Claim Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda CR-V 4dr 2WD||68||81||58||93||86||77|
|Honda CR-V 4dr 4WD||69||82||69||90||87||78|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get cheaper Honda CR-V insurance in Minneapolis with discounts
Car insurance companies don't necessarily list every discount they offer very well, so below is a list some of the more common and the harder-to-find auto insurance savings.
- Active Service Discounts - Being deployed with a military unit could mean lower rates.
- Driver Education Discount - Cut your cost by having your teen driver successfully complete driver's ed class in school.
- Discount for Low Mileage - Fewer annual miles on your Honda can qualify you for cheaper premium rates.
- Early Signing - A few larger companies offer discounts for buying a policy prior to your current CR-V insurance policy expiration. It's a savings of about 10%.
- Use Seat Belts - Drivers who require all occupants to buckle up before driving could save 15% on the medical payments or PIP coverage costs.
It's important to note that some credits don't apply to the entire cost. Most cut the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that you would end up receiving a 100% discount, company stockholders wouldn't be very happy.
Companies and their offered discounts include:
- Progressive includes discounts for online signing, continuous coverage, good student, online quote discount, multi-vehicle, and multi-policy.
- MetLife may offer discounts for defensive driver, accident-free, good student, good driver, multi-policy, claim-free
- Mercury Insurance policyholders can earn discounts including anti-theft, low natural disaster claims, professional/association, location of vehicle, multi-policy, good driver, and age of vehicle.
- Nationwide may include discounts for business or organization, Farm Bureau membership, family plan, anti-theft, and good student.
- GEICO may have discounts that include military active duty, five-year accident-free, daytime running lights, membership and employees, and good student.
- AAA offers discounts for good driver, AAA membership discount, education and occupation, multi-car, and multi-policy.
Double check with every prospective company which discounts you qualify for. Some discounts listed above may not apply to policyholders in Minneapolis.
Local Minneapolis auto insurance agents
A lot of people prefer to sit down and talk to an agent and that is recommended in a lot of cases One of the great benefits of comparing insurance prices online is the fact that you can find cheap rate quotes and still have an agent to talk to. And buying from local agents is important particularly in Minneapolis.
After filling out this form (opens in new window), the coverage information is transmitted to local insurance agents in Minneapolis that can give you free Minneapolis auto insurance quotes and help you find cheaper coverage. It's much easier because you don't need to contact any insurance agencies as quotes are delivered immediately to your email address. You can find better rates and an insurance agent to talk to. If you want to quote rates from a specific company, just find their quoting web page and submit a quote form there.
Pick the best car insurance agent in Minneapolis for you
When narrowing the list to find a reliable agent, you must know there are a couple different types of agencies and how they are slightly different. Agents in Minneapolis can be classified as either exclusive or independent.
Independent Insurance Agencies or Brokers
Agents of this type often have affiliation with several companies and that gives them the ability to insure through lots of different companies and get you the best rates possible. To move your coverage to a new company, the business is moved internally and that require little work on your part. When comparison shopping, we highly recommend that you get several quotes from independent agents in order to compare the most rates.
Listed below are independent insurance agencies in Minneapolis who may provide pricing information.
2736 Lyndale Ave S - Minneapolis, MN 55408 - (612) 872-4004 - View Map
Exclusive Insurance Agencies
Exclusive agencies can only quote rates from one company such as Farmers Insurance and State Farm. Exclusive agents cannot provide other company's prices so they are skilled at selling on more than just price. Exclusive insurance agents are usually well trained in insurance sales and that allows them to sell at a higher price point.
Shown below are Minneapolis exclusive insurance agents that are able to give comparison quotes.
State Farm: Seth Bork Insurance Agency Incorporated
8347 University Ave NE D - Minneapolis, MN 55432 - (763) 780-2222 - View Map
Choosing the best car insurance agent shouldn't rely on just the premium amount. Any agent in Minneapolis should be willing to answer these questions.
- Is coverage determined by price?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Is there a 24/7 contact number?
- Is there a local claims center in Minneapolis?
- Do they see any coverage gaps in your plan?
- How often do they review policy coverages?
- How many years have they been established?
- What is the agency's Better Business Bureau rating?
Cheap insurance rates are out there
As you quote Minneapolis auto insurance, it's very important that you do not buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped liability limits or collision coverage only to regret at claim time that the small savings ended up costing them much more. Your strategy should be to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.
We just covered a lot of ways to find lower-cost Honda CR-V insurance in Minneapolis. It's most important to understand that the more rate quotes you have, the higher your chance of finding cheaper Minneapolis auto insurance quotes. You may even discover the best price on insurance is with a lesser-known regional company. Some small companies often have lower premium rates on specific markets than the large multi-state companies such as Allstate and Progressive.
Affordable Honda CR-V insurance in Minneapolis can be purchased on the web and from local insurance agents, and you should compare rates from both to have the best rate selection. Some insurance companies may not provide price quotes online and these small, regional companies prefer to sell through independent agents.
More tips and info about insurance can be found in these articles:
- Top Signs Your Brakes are Giving Out (State Farm)
- What Car Insurance is Cheapest for Drivers with a DUI in Minnesota? (FAQ)
- How Much are Car Insurance Rates for a Kia Optima in Minnesota? (FAQ)
- What is the Cheapest Car Insurance in Burnsville, Minnesota? (FAQ)
- What Auto Insurance is Cheapest for Drivers Over Age 60 in Minnesota? (FAQ)
- Neck Injury FAQ (iihs.org)
- Things to Know Before you Cancel Insurance (Allstate)