Who Has Affordable Auto Insurance for Low Credit Scores in Minneapolis?

The type of vehicle you are buying coverage for is one of the largest factors when trying to find cheaper car insurance for low credit scores. Vehicles with limited top-end speed, advanced safety features, or low incidents of liability claims will cost quite a bit less to insure than high performance models. The next table estimates insurance costs for some of the cheapest automobiles to buy coverage for.

Cheapest Vehicles to Insure in Minneapolis, MN
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 4WD $1,511
Ford Escape Limited 4WD $1,604
Hyundai Elantra GLS Touring Station Wagon $1,612
Honda Accord EX 4-Dr Sedan $1,664
Ford Edge SE 2WD $1,768
Ford F-150 XLT Crew Cab 4WD $1,777
Toyota Prius $1,842
GMC Sierra SLE Regular Cab 4WD $1,870
Ford Focus SE 4-Dr Sedan $1,872
Ford Explorer XLT 2WD $1,878
Dodge Grand Caravan Hero $1,911
Toyota Tacoma Double Cab 4WD $1,920
Ford F-350 XLT Crew Cab Lariat 2WD $1,935
Chevrolet Impala LT $1,968
Volkswagen Jetta LE 4-Dr Sedan $1,974
Toyota RAV4 4WD $1,968
Toyota Camry Hybrid $1,996
Toyota Camry SE $2,017
Honda Odyssey EX-L W/Navigation $2,027
Kia Optima LX $2,048
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Estimates do not factor in garaging location in Minneapolis, MN which can change premium rates substantially.

Based upon the table data, we can conclude that makes and models like the Honda CR-V, Ford Escape, Hyundai Elantra, Honda Accord, and Ford Edge are going to be a few of the cheapest vehicles to insure for bad credit.

Determining which company offers the cheapest car insurance rates for low credit scores will require a bit more work than just comparing rates from one or two companies. Each auto insurer has a different formula for setting rates, so we will examine the most competitive car insurance companies in Minneapolis, MN.

It’s a good idea to know that Minneapolis car insurance rates are influenced by many factors that can increase the price you pay. Simply turning a year older, moving across town, or getting a speeding ticket can produce rate changes resulting in some companies being affordable when they were higher priced.

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Cheapest insurance companies in Minnesota
Rank Company Cost Per Year
1 Travelers $661
2 USAA $799
3 Farm Bureau Mutual $829
4 Western National $910
5 The Hartford $936
6 West Bend Mutual $952
7 Allied $1,210
8 State Farm $1,213
9 American Family $1,230
10 California Casualty $1,264
11 Auto-Owners $1,295
12 General Casualty $1,300
13 Nationwide $1,378
14 Auto Club Group $1,380
15 Farmers $1,393
16 Country $1,412
17 Allstate $1,423
18 North Star $1,446
19 Progressive $1,448
20 MetLife $1,549
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Travelers may offer some of the cheapest car insurance rates in Minneapolis at around $661 per year. This is $760 less than the average rate paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and The Hartford would also be considered some of the cheapest Minneapolis, MN insurance companies.

In the rate table above, if you currently buy coverage from Western National and switched to USAA, you could see yearly savings of in the neighborhood of $111. Insureds with The Hartford may save as much as $137 a year, and West Bend Mutual customers might reduce rates by $153 a year.

Understand that those prices are averages for all drivers and vehicles in Minnesota and and are not figured with a specific vehicle garaging location for low credit scores. So the car insurance company that is best suited for you may not even be in the top 24 companies shown above. That illustrates why you need to compare prices as often as possible using your own driver information and specific vehicle type.

Insuring your vehicle with a high-quality car insurance company can be rather challenging considering how many companies are available to choose from in Minneapolis. The company rank data below can help you pick which insurers you want to consider comparing rate quotes with.

The rankings below include companies with a nationwide focus, so companies that may only write in Minnesota are not taken into consideration for this list. If you wish to compare rates from these top-rated insurers and more, click this link.

Top 10 Major Auto Insurers in Minneapolis Ranked by A.M. Best Rating

  1. USAA – A++
  2. Travelers – A++
  3. State Farm – A++
  4. GEICO – A++
  5. Nationwide – A+
  6. Esurance – A+
  7. The Hartford – A+
  8. Progressive – A+
  9. Allstate – A+
  10. The General – A-

Top 10 Major Auto Insurers in Minneapolis Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. AAA Insurance
  7. Safeco Insurance
  8. GEICO
  9. Esurance
  10. The General

Types of discounts on Minneapolis car insurance

Car insurance for bad credit in Minneapolis, MNInsurance providers that offer cheap quotes for low credit scores may additionally offer rate discounts that can lower rates by 35% or more if you meet specific eligibility requirements. Popular car insurance companies and their offered discounts can be found below.

The information below shows the comparison of annual premium costs with and without some available policy discounts. The costs are based on a male driver, no tickets, no at-fault accidents, Minnesota state minimum liability limits, full physical damage coverage, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, multiple policy, accident-free, claim-free, multiple vehicle, and safe-driver discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on car insurance for low credit scores is 28% or $507.

Irresponsible driving raises your rates

The recommended way to enjoy cheap car insurance prices in Minnesota for bad credit is to be an attentive driver and avoid traffic citations and accidents. The example below illustrates how traffic citations and at-fault collisions can raise car insurance costs for different ages of insureds. The data assumes a married female driver, full coverage, $250 deductibles, and no discounts are applied.

In the chart above, the average cost of auto insurance in Minneapolis per year with a clean driving record and no accidents is $1,288. Add in two speeding tickets and the average cost hikes up to $1,828, an increase of $540 each year. Then add in one accident along with the two speeding tickets and the 12-month cost of car insurance for low credit scores goes up to an average of $2,367. That’s an increase of $1,079, or $90 per month, just for a couple of infractions!

How to find cheaper car insurance for low credit scores

Below you’ll find many money-saving ideas that can help Minnesota drivers find cheap car insurance.

That last piece of advice is highly significant, as was stressed in the article above. Auto insurance prices can change considerably in a year, so don’t be tentative to switch companies if a lower-cost policy is available. Many drivers tend to have loyalty to a certain company, but it’s not a good idea if that devotion results in you overpaying money that could be spent on other things. Take a few minutes and compare prices to find cheaper insurance for low credit scores in Minneapolis.

If you aren’t sure which coverage you need and prefer to get some help when trying to find lower insurance rates for low credit scores, the insurance agencies listed below can most likely aid you in deciding which coverages and limits you need. To find an agent close to you, click the button after the list.

Allstate Insurance: Lois A. Castaneda
127 W Grant St, # CMinneapolis, MN 55403(612) 871-6830

Farmers Insurance – Steven Wolfson
1516 W Lake St Suite 203Minneapolis, MN 55408(612) 822-1287

Nathan Dao – State Farm Insurance Agent
220 South 6th St #180Minneapolis, MN 55402(612) 338-6422

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