Want to know an easy way to compare more affordable car insurance rates in Minneapolis, MN? Searching for cheaper insurance for a car in Minnesota can turn out to be difficult, but you can follow the following methods and make it easy. There is a right way and a wrong way to buy car insurance so we're going to tell you the proper way to quote coverages on a and get the cheapest rates.
If you're already insured or need a new policy, take advantage of these tips to get lower rates and still get good coverage. Comparing rates for cheaper coverage in Minneapolis is simple if you know the tricks. Drivers just have to know the tricks to compare company rates instantly.
The best way to compare car insurance company rates is to take advantage of the fact all the major auto insurance companies participate in a system to compare rate quotes. To start a quote, the only thing you need to do is spend a couple of minutes providing details such as if you require a SR-22, marital status, if you have an active license, and how many miles driven. That rating data is automatically sent to many different companies and you will get price comparisons almost instantly.
To compare multiple company rates now, click here and enter your coverage details.
The providers in the list below can provide free quotes in Minneapolis, MN. If several companies are displayed, it's a good idea that you visit as many as you can to find the cheapest auto insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT 4WD||$928||$464||$77|
|Chevrolet Equinox LTZ AWD||$1,352||$676||$113|
|Chevrolet Impala LS||$964||$482||$80|
|Chevrolet Silverado LT Regular Cab||$1,140||$570||$95|
|Dodge Ram Quad Cab Laramie 4WD||$1,536||$768||$128|
|Ford Escape XLT 4WD||$942||$471||$79|
|Ford Explorer XLT 4WD||$1,030||$515||$86|
|Ford F-150 XL Super Cab 2WD||$782||$391||$65|
|Ford Focus S 4-Dr Sedan||$932||$466||$78|
|GMC Sierra SL Extended Cab 2WD||$1,004||$502||$84|
|Honda Accord EX-L 4-Dr Sedan||$900||$450||$75|
|Honda CR-V EX 2WD||$930||$465||$78|
|Honda Civic DX 4-Dr Sedan||$1,074||$537||$90|
|Nissan Altima 3.5 SR 4-Dr Sedan||$1,044||$522||$87|
|Toyota Camry SE||$886||$443||$74|
|Toyota Corolla XLE||$1,010||$505||$84|
|Toyota Tacoma 2WD||$1,326||$663||$111|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in vehicle location which can raise or lower auto insurance rates greatly.
Can higher deductibles save money?
A question often asked by Minneapolis drivers is which deductible level should you buy. The comparison tables below can help you understand the premium difference when you select higher and lower policy deductibles. The first price estimate table uses a $250 deductible for physical damage and the second price table uses a $500 deductible.
Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$214||$340||$270||$16||$80||$945||$79|
|Elantra Blue 4-Dr Sedan||$214||$486||$318||$18||$94||$1,155||$96|
|Elantra GLS 4-Dr Sedan||$246||$486||$318||$18||$94||$1,187||$99|
|Elantra SE 4-Dr Sedan||$246||$486||$318||$18||$94||$1,187||$99|
|Elantra SE Touring Station Wagon||$246||$414||$270||$16||$80||$1,051||$88|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$174||$274||$270||$16||$80||$814||$68|
|Elantra Blue 4-Dr Sedan||$174||$392||$318||$18||$94||$996||$83|
|Elantra GLS 4-Dr Sedan||$200||$392||$318||$18||$94||$1,022||$85|
|Elantra SE 4-Dr Sedan||$200||$392||$318||$18||$94||$1,022||$85|
|Elantra SE Touring Station Wagon||$200||$334||$270||$16||$80||$900||$75|
|Get a Quote for Your Vehicle Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Price information does not factor in specific location information which can increase or decrease coverage rates substantially.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you roughly $13 more each month or $156 every year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 19 months between claims, you would save money by selecting a higher deductible.
Full coverage versus liability only rates
The information below illustrates the difference between Ford Fusion car insurance rates with full coverage and liability only. The price estimates are based on no claims or driving violations, $1,000 deductibles, married male driver, and no discounts are taken into consideration.
Ford Fusion rates are for example purposes only. To get rates for your specific vehicle, click here.
When to buy liability coverage only
There is no clear-cut rule of when to eliminate physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.
For example, let's assume your Ford Fusion replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $8,000 after you pay the deductible. If premium cost is more than $800 a year to have full coverage, then it might be time to buy liability only.
There are some cases where eliminating full coverage is not advised. If you haven't paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Cautious drivers save money
The illustration below illustrates how speeding tickets and at-fault claims can influence Nissan Sentra insurance rates for each age group. The costs are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are applied.
Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.
Three main reasons to buy insurance
Despite the high cost of buying insurance in Minneapolis, insurance serves an important purpose.
- The majority of states have minimum liability requirements which means the state requires a specific minimum amount of liability insurance coverage if you want to drive legally. 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.
- If you have a lien on your vehicle, most banks will force you to have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the lender will be forced to insure your vehicle for a much higher rate and force you to reimburse them for it.
- Insurance preserves not only your vehicle but also your assets. It also can pay for all forms of medical expenses for not only you but also any passengers injured in an accident. Liability insurance will also pay to defend you if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, your insurance policy will pay to have it repaired.
The benefits of carrying adequate insurance more than offset the price you pay, particularly if you ever have a claim. According to a 2015 survey, the average American driver is wasting up to $855 a year so it's very important to do a rate comparison once a year at a minimum to make sure the price is not too high.
Brand name doesn't guarantee savings
Minnesota consumers can't escape the ads for the lowest price auto insurance by GEICO, State Farm and Progressive. All the ads have a common claim that drivers will save a bundle just by moving your auto insurance policy to them.
How does every auto insurance company offer drivers better rates? Just pay attention to how they say it.
Many companies provide the lowest rates for the type of driver that makes them money. An example of a profitable customer may be a married female, has other policies, and has a short commute. A propective insured who fits those characteristics will most likely get cheap prices and will also save a lot of money.
Insureds who may not quite match these standards may receive a more expensive rate which results in the customer buying from a different company. The trick is to say "customers that switch" not "all people who quote" save the amount stated. This is how insurance companies can confidently make the claims of big savings. That is why you need to quote coverage with many companies. It's impossible to know which company will have the lowest rate quotes.
Discounts for cheap insurance rates
Insuring your vehicles can cost a lot, but you may qualify for discounts that may help make it more affordable. Certain discounts will be triggered automatically when you get a quote, but some discounts are required to be specially asked for before they will apply.
- Anti-lock Brakes - Cars, trucks, and SUVs with ABS and/or traction control can reduce accidents and therefore earn up to a 10% discount.
- Switch and Save Discount - Some larger companies give discounts for switching to them early. You may see this discount when you get Minneapolis car insurance quotes online.
- Claim Free - Drivers with accident-free driving histories pay less as opposed to policyholders that have many claims.
- Driving Data Discount - Minneapolis drivers who agree to allow driving data submission to analyze their driving habits through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive might see lower rates if their driving habits are good.
- Active Service Discounts - Being deployed in the military can result in better prices.
- Payment Method - By paying your entire bill at once rather than paying in monthly installments you may have a lower total premium amount.
It's important to understand that most discount credits are not given the the whole policy. A few only apply to individual premiums such as physical damage coverage or medical payments. So even though you would think it's possible to get free car insurance, you aren't that lucky.
Car insurance companies who might offer many of the previously listed discounts may include but are not limited to:
When comparing rates, check with each insurance company which discounts you qualify for. Savings might not apply everywhere. To choose insurance companies offering insurance discounts in Minnesota, click this link.
When to get advice from an agent
Many people still like to talk to an insurance agent and that is a smart decision Good insurance agents can make sure you are properly covered and help in the event of a claim. The best thing about comparing rate quotes online is you can get cheap insurance rates and still buy from a local agent.
After filling out this short form, your coverage information gets sent to insurance agents in Minneapolis who will give competitive quotes for your insurance coverage. You won't need to contact any agents as quotes are delivered to you. If for some reason you want to quote rates for a specific company, feel free to search and find their rate quote page and fill out their quote form.
Finding the right insurer is decision based upon more than just the quoted price. These are some questions your agent should answer.
- Is their price quote a firm figure or are their hidden costs?
- How long has their agency been open in Minneapolis?
- Will the quote change when the policy is issued?
- Which members of your family are coverage by the policy?
- Can they help ensure a fair claim settlement?
- How are they compensated?
If you prefer to buy insurance from local Minneapolis agents, it can be helpful to understand the types of insurance agents that differ in how they can insure your vehicles. Insurance policy providers can either be independent or exclusive. Both types can write policy coverage, but it's a good idea to understand the difference in how they write coverage because it can influence the kind of agent you use.
Exclusive Insurance Agents
These agents can only provide pricing for a single company and some examples include American Family, State Farm, and AAA. These agents are unable to provide prices from multiple companies so you might not find the best rates. Exclusive agents receive extensive training on their products and sales techniques which helps them sell on service rather than price. Many people purchase coverage from exclusives mostly because of the brand legacy rather than having low rates.
Below are Minneapolis exclusive insurance agents who may provide you with price quote information.
- Farmers Insurance - Mark Hansen
6001 Portland Ave - Minneapolis, MN 55417 - (612) 869-7760 - View Map
- Kelly Mulligan Allstate Insurance Agency
80 8th St S - Minneapolis, MN 55402 - (612) 713-9253 - View Map
- Farmers Insurance - Gretchen Frana
5445 S 28th Ave - Minneapolis, MN 55417 - (612) 724-4309 - View Map
Independent Insurance Agents
Independent agents can sell policies from many different companies so they have the ability to put coverage amongst many companies and help determine which has the cheapest rates. If they find a cheaper price, your agent can switch companies without you having to go to a different agency.
If you need lower rates, you absolutely need to include rate quotes from multiple independent agents in order to have the best price comparison. Many independent agencies also insure through additional companies that you may not be familiar with which could offer lower prices.
The following is a short list of independent agents in Minneapolis that can give you comparison quotes.
- TCF Agency Insurance Services Inc
801 S Marquette Ave - Minneapolis, MN 55402 - (612) 661-8400 - View Map
- True Insurance Agency and Financial Services - Minneapolis Home and Auto Insurance
4708 Excelsior Blvd - St Louis Park, MN 55416 - (952) 388-2006 - View Map
- CBIZ Associated Insurance Agents
2800 Freeway Blvd - Minneapolis, MN 55430 - (763) 549-2200 - View Map
Compare rates regularly to save
We just covered some good ideas how you can reduce auto insurance car insurance rates online in Minneapolis. The key concept to understand is the more rate quotes you have, the higher your chance of finding affordable Minneapolis car insurance quotes. Consumers may even find the lowest priced auto insurance comes from the least-expected company.
When searching for cheaper Minneapolis car insurance quotes, never reduce needed coverages to save money. There have been many cases where someone sacrificed comprehensive coverage or liability limits and discovered at claim time that they should have had better coverage. The ultimate goal is to buy the best coverage you can find at the best possible price but still have enough coverage for asset protection.
Cheaper auto insurance in Minneapolis is possible from both online companies in addition to local insurance agencies, and you should be comparing both to get a complete price analysis. Some auto insurance companies do not offer the ability to get quotes online and these regional insurance providers provide coverage only through independent agents.
To learn more, link through to the articles below:
- Neck Injury FAQ (iihs.org)
- Who Has the Cheapest Minnesota Car Insurance Rates for a Jeep Wrangler? (FAQ)
- Who Has Cheap Car Insurance Rates for Retired Military in Minnesota? (FAQ)
- Who Has Affordable Minnesota Car Insurance for Postal Workers? (FAQ)
- Crash Avoidance Technologies FAQ (iihs.org)
- Distracted Driving Statistics (Insurance Information Institute)