Insurance quote for Toyota Corolla in MinneapolisAre you searching for more competitive Toyota Corolla insurance in Minneapolis? Searching for the cheapest insurance for a new or used Toyota Corolla in Minnesota can be an all-consuming task, but you can learn our insurance buying tips to save time. There are both good and bad ways to buy insurance so we're going to tell you the best way to price shop coverage for your Toyota and locate the lowest price either online or from Minneapolis insurance agents.

Consumers should take time to do price comparisons yearly because insurance prices change quite often. Just because you had the best deal on Toyota Corolla insurance in Minneapolis on your last policy you can probably find a better rate quote now. Ignore everything you know about insurance because you're about to find out how to use the internet to get good coverage on Toyota Corolla insurance in Minneapolis at a lower rate.

The majority of larger companies like 21st Century, Allstate and State Farm give prices for coverage directly from their websites. Obtaining pricing for Toyota Corolla insurance in Minneapolis is pretty painless as you simply type in the amount of coverage you want into the quote form. After the form is submitted, the quote system will obtain reports for credit and driving violations and returns pricing information.

This makes it a lot easier to compare rates and it's also necessary to do this if you are searching for the best auto insurance rates.

In order to fill out one form to compare multiple rates now, compare rates now from the companies shown below. If you have your current policy handy, we recommend that you enter the insurance coverages exactly as shown on your declarations page. This helps ensure you will get a price comparison based on identical coverages.

The providers in the list below have been selected to offer quotes in Minnesota. If multiple companies are listed, we suggest you visit two to three different companies to get the most competitive price.

Toyota Corolla Insurance Estimates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $138 $282 $326 $20 $98 $864 $72
Corolla S $118 $260 $304 $18 $92 $792 $66
Corolla XLE $240 $560 $384 $22 $114 $1,320 $110
Corolla XRS $238 $476 $334 $20 $100 $1,168 $97
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rates do not factor in your specific Minneapolis location which can affect prices significantly.

Irresponsible driving raises your rates

The example below shows how traffic citations and at-fault accidents can impact Toyota Corolla insurance rates for each different age group. The price estimates are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.

Analysis of deductible levels

One of the most common auto insurance questions is which deductibles should you choose. The rates shown below help summarize the premium difference of buying low and high insurance deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Toyota Corolla insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $246 $486 $318 $18 $94 $1,187 $99
Corolla S $246 $486 $318 $18 $94 $1,187 $99
Corolla XLE $246 $486 $318 $18 $94 $1,187 $99
Corolla XRS $276 $486 $318 $18 $94 $1,217 $101
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Toyota Corolla insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $200 $392 $318 $18 $94 $1,022 $85
Corolla S $200 $392 $318 $18 $94 $1,022 $85
Corolla XLE $200 $392 $318 $18 $94 $1,022 $85
Corolla XRS $224 $392 $318 $18 $94 $1,046 $87
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Price estimates do not factor in vehicle garaging location which can affect auto insurance rates considerably.

Based on the figures above, using a $250 deductible costs about $14 more each month or $168 every year than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you have at least 18 months between claim filings, you would come out ahead if you elect the higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $100
Average monthly premium for $500 deductibles (subtract): - $86
Monthly savings from raising deductible: $14
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

Physical damage deductible comparison

The example below demonstrates how choosing different deductibles and can affect Toyota Corolla premium costs for different insured age categories. The rates are based on a single male driver, full coverage, and no policy discounts are applied.

Do you qualify for discounts?

Car insurance is not inexpensive, but you can get discounts that can dramatically reduce your bill. Certain discounts will be applied at the time you complete a quote, but lesser-known reductions have to be manually applied before you will receive the discount.Car insurance discounts

It's important to understand that some of the credits will not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comp or med pay. Even though the math looks like all those discounts means the company will pay you, that's just not realistic. But all discounts should help lower the cost of coverage.

To choose car insurance companies with discount car insurance rates in Minnesota, click here to view.

Why you need insurance for your vehicle

Despite the high insurance cost for a Toyota Corolla in Minneapolis, insuring your vehicle is mandatory in Minnesota but it also protects more than you think.

First, most states have mandatory insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage in order to license the vehicle. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if your Corolla has a loan, more than likely the lender will have a requirement that you buy insurance to ensure loan repayment if the vehicle is totalled. If the policy lapses, the bank may insure your Toyota at an extremely high rate and require you to reimburse them a much higher amount than you were paying before.

Third, insurance preserves both your vehicle and your personal assets. It will also reimburse you for medical transport and hospital expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you cause an accident and are sued. If you have damage to your Toyota as the result of the weather or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of carrying enough insurance are definitely more than the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is wasting up to $855 a year so it's recommended you shop around every year to ensure rates are inline.

Buying car insurance from Minneapolis insurance agencies

Many people still prefer to buy from a licensed agent and that can be a great decision Professional insurance agents can help you choose the best coverages and give you someone to call. One of the great benefits of getting online price quotes is the fact that you can find cheap car insurance rates and still buy from a local agent.

After filling out this short form, your information is submitted to local insurance agents in Minneapolis who want to provide quotes for your business. There is no need to contact any agents since price quotes are sent to your email. If for some reason you want to get a rate quote for a specific company, you would need to jump over to their website and fill out the quote form the provide.

Deciding on an insurance company needs to be determined by more than just the quoted price. The answers to these questions are important, too.

What types of auto insurance agents are in Minneapolis?

When researching a good insurance agency, it's important to understand the types of agencies and how they differ in how they can insure your vehicles. Agents are classified as either independent agents or exclusive agents. Either can properly insure your vehicles, but it's good to learn the differences since it may influence your selection of an agent.

Exclusive Agencies

Exclusive agencies normally can only provide a single company's rates and some examples include Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot compare rates from other companies so it's a take it or leave it situation. These agents are usually well trained on what they offer and that enables them to sell even at higher rates. Drivers often buy from exclusive agents primarily because of the brand instead of buying on price only.

Shown below are exclusive insurance agents in Minneapolis who may provide you with price quote information.

More Minneapolis agents

Independent Agents

Independent insurance agents are not employed by one company and that gives them the ability to insure with an assortment of companies and find you cheaper rates. If they find a cheaper price, the agent simply finds a different carrier which requires no work on your part. If you need lower rates, you absolutely need to get insurance quotes from multiple independent agents to maximize your price options. Most have the option of insuring with smaller regional carriers that many times have cheaper rates.

Below is a list of independent insurance agencies in Minneapolis willing to provide price quotes.

More Minneapolis agents