Best Cheap Minnesota Auto Insurance Quotes

The vehicle model that needs insurance is one of the largest factors that determines the availability of the best cheap Minnesota auto insurance quotes. Vehicles with high performance engines, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models.

The next table illustrates car insurance premiums for the cheapest vehicles to insure in Minnesota.

Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rate information does not factor in the specific area where the vehicle is garaged which can increase or decrease premiums noticeably.

Looking at the data, you can see that vehicles like the Honda CR-V, Honda Civic, Chevrolet Impala, and Chevrolet Traverse will definitely be a few of the cheaper vehicles to insure for drivers in Minnesota.

One of the many criteria that help determine the amount you pay for auto insurance is where you normally keep your vehicle in Minnesota. Cities with larger populations like Maplewood, Minneapolis, and Duluth tend to have higher rates, whereas less populated areas tend to receive cheaper rates.

The table below lists the priciest cities in Minnesota to purchase auto insurance in.

Annual rates are estimated as vehicle location can change coverage rates noticeably.

Finding good, cheap auto insurance is difficult, and figuring out which companies have the cheapest car insurance rates in Minnesota takes more quotes for comparison. Every car insurance company has a different formula for setting prices, so let’s begin by examining the car insurance companies with the overall cheapest rates in Minnesota.

 

Travelers has some of the cheapest car insurance rates in Minnesota at around $641 a year. Farm Bureau Mutual, USAA, Western National, and The Hartford are also some of the more affordable Minnesota car insurance companies.

As shown in the rates above, if you currently buy coverage from Western National and switched to Farm Bureau Mutual, you might see savings of about $88. Drivers with The Hartford might save as much as $123 a year, and West Bend Mutual customers might reduce prices by as much as $139 a year.

To discover how much you can save, click here to get a free quote or quote prices from the following companies.

Remember that these estimates are averaged across all types of drivers and the different vehicles they drive and do not factor in a rate discount in Minnesota. So the car insurance company that can offer you the lowest price may not even be featured in the list above. That affirms the importance of why you need to get rate quotes using your own driver information and specific vehicle type.

Minnesota car insurance companies ranked

Choosing the right car insurance provider can be a challenge considering how many choices drivers have in Minnesota. The information listed below can help you pick which coverage providers you want to consider when shopping car insurance rates in Minnesota.

The ratings below are only made up of large insurance companies, so smaller companies that only insure vehicles in Minnesota are not taken into consideration for this list. To check rates and find cheaper insurance in Minnesota, follow this link.

Top 10 Major Auto Insurance Companies in Minnesota Ranked by Customer Service

1. Nationwide
2. State Farm
3. Safeco Insurance
4. American Family
5. Liberty Mutual
6. GEICO
7. Travelers
8. Allstate
9. The Hartford
10. Esurance

Top 10 Major Auto Insurance Companies in Minnesota Ranked by Value

1. USAA
2. GEICO
3. AAA Insurance
4. State Farm
5. Liberty Mutual
6. Safeco Insurance
7. Allstate
8. 21st Century
9. Travelers
10. The General

Cost difference between full coverage and liability

Finding the best cheap Minnesota auto insurance quotes should be important to most people, and an easy way to buy cheap insurance is to not buy comprehensive and collision coverage. The diagram below illustrates the comparison of annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims or driving violations, $500 deductibles, marital status is single, and no additional discounts are factored in.

Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs $1,639 per year over and above liability coverage. At some point, almost every driver questions if paying for full coverage is worth it. There is no clear-cut rule for dropping physical damage coverage, but there is a general school of thought. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s assume your vehicle’s claim settlement value is $12,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $11,000 after paying your policy deductible. If it’s costing in excess of $1,100 annually for your policy with full coverage, then it might be time to buy liability only.

Your low-price policy may be costing you money

Minnesota car insurance rates are determined by lots of factors that will increase or decrease the cost of having a policy. Getting older, becoming a homeowner, or having an accident may cause policy rate changes that may make certain companies cheaper than competitors. Not only may your risk profile change, but insurers change premium rates as often as every quarter in order to remain profitable. Significantly higher claims may cause rate hikes, while profitable underwriting can cause cheaper Minnesota car insurance rates.

The graph below shows the company with the cheapest car insurance in Minnesota for a 35-year-old female driver with a clean driving record, no accidents, and great credit. If we look at prices based on her personal profile, Travelers may offer the best car insurance rates in Minnesota at $667 annually. This is $754 less than the average rate paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and West Bend Mutual are the remainder of the cheapest Minnesota auto insurance companies.

The next chart shows rates after we give the driver in the first chart a chargeable accident, less-than-perfect credit, and a stop sign violation. Because each insurer uses a different method for setting prices, analyzing rates could now result in a significantly different list of companies as shown below.

Allied now has the best auto insurance rate in Minnesota with Farm Bureau Mutual, USAA, State Farm, and California Casualty also having competitive pricing. This shows why consumers need to take the time to perform an extensive rate comparison when trying to find affordable auto insurance quotes in Minnesota. Auto insurance prices are made up of many things and change dramatically, so the lowest-price company when you last compared rates may now be an over-priced policy.

Use our FREE quote tool to compare insurance rates now!

Case Studies: Best Cheap Minnesota Auto Insurance Quotes

Case Study 1: Home Insurance Claim

John, a homeowner in Minnesota, experienced significant water damage in his house due to a burst pipe. He promptly filed a claim with his insurance company, providing all necessary documentation. The insurance company sent an adjuster to assess the damage and approved the claim. Cost covered, repairs done, John’s home restored.

Case Study 2: Auto Insurance Comprehensive Claim

Sarah parked her car outside during a severe hailstorm in Minnesota. The hailstones caused extensive damage to her vehicle, including dents and broken windows. Sarah filed a comprehensive claim with her auto insurance company, providing evidence of the damage. Insurance approved claim, covered repairs, Sarah’s car fixed, no major expenses.

Case Study 3: Life Insurance Policy for Financial Protection

Mark, a family man in Minnesota, had a life insurance policy to ensure financial security for his loved ones in case of his untimely death. Unfortunately, Mark passed away unexpectedly. His beneficiaries filed a claim with the life insurance company, submitting the necessary documents. Insurance processed claim, provided death benefit to Mark’s family.