Establishing which companies offer the cheapest car insurance rates for immigrants requires more time in order to find the best price. Every car insurance company uses different criteria for determining rates, so to begin we’ll rank the car insurance companies with the overall best prices in Minnesota.
It’s important to know that Minnesota car insurance rates are impacted by many things that will increase or decrease the policy price. Simply having a birthday, filing a claim, or getting caught speeding can trigger rate changes that may make certain companies affordable when they were higher priced.
Best Insurance Companies for Migrants
Travelers may offer some of the most affordable car insurance rates in Minneapolis at around $647 annually. This is $774 less than the average price paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and The Hartford also qualify as some of the most economical Minneapolis, MN insurance companies.
As shown in the table above, if you are currently insured with Western National and switched to USAA, you might realize yearly savings of around $102. Policyholders with The Hartford might save as much as $155 a year, and West Bend Mutual customers might reduce rates by $173 a year.
These policy rates are averages across all ages of drivers and types of vehicles and do not take into consideration a specific vehicle garaging location for immigrants. So the company that can offer the best rates for your situation may not even be in the top 24 companies shown above. That illustrates why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
The vehicle that is being insured is one of the main factors when shopping around for the most economical car insurance for immigrants. Vehicles with high performance engines, poor safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models.
The information below outlines car insurance premiums for the most economical vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$1,304|
|Honda CR-V EX 4WD||$1,458|
|Ford Escape XLT 2WD||$1,460|
|Jeep Wrangler Sport 4WD 2-Dr||$1,500|
|Ford Focus S 4-Dr Sedan||$1,513|
|GMC Sierra SLE Crew Cab 2WD||$1,544|
|Toyota Camry LE||$1,549|
|Chevrolet Impala LT||$1,544|
|Dodge Grand Caravan CV||$1,594|
|Hyundai Elantra SE Touring Station Wagon||$1,599|
|Honda Odyssey LX||$1,594|
|Ford Explorer Eddie Bauer 2WD||$1,634|
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Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Price estimates do not factor in specific garaging location which can raise or lower premium rates substantially.
Looking at the data, you can infer that vehicles like the Honda Accord, Honda CR-V, Ford Escape, Jeep Wrangler, and Ford Focus will be a few of the more affordable vehicles to insure for foreigners.
One of the more important criteria that help determine the price you pay for insurance is where you live. Regions with larger populations or more claims tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims have the benefit of cheaper auto insurance prices.
The next table ranks the priciest cities in Minnesota for immigrants to buy auto insurance in. Minneapolis is ranked #1 with a yearly cost of $2,058 for the average policy, which is about $172 per month.
|16||Saint Louis Park||$1,720|
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Table data uses comparative as specific Minneapolis garaging address can change premiums greatly.
How accidents and violations affect rates
The obvious way to earn the cheapest car insurance prices for foreigners is to be an attentive driver and avoid getting tickets or having accidents. The chart below shows how violations and accident claims can drive up insurance rates for different categories of driver ages. The rates are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
In the previous example, the average cost of auto insurance per year with no violations or accidents is $1,426. Receive one speeding ticket and the average cost hikes up to $1,617, an increase of $191 each year. Now include two accidents along with the one speeding ticket and the 12-month cost of car insurance for immigrants jumps again to an average of $3,328. That’s an increase of $1,902, or $158 per month, just for being a little careless behind the wheel!
Discounts on Minneapolis insurance
Auto insurance companies that offer coverage for immigrants may have special discounts that may potentially lower prices by 30% or more if you meet the requirements. A few popular companies and a selection of discounts are outlined below.
- State Farm may offer discounts for Drive Safe & Save, good student, passive restraint, anti-theft, student away at school, good driver, and defensive driving training.
- Liberty Mutual includes discounts for new move discount, preferred payment discount, newly retired, multi-car, and safety features.
- American Family policyholders can earn discounts including early bird, Steer into Savings, multi-vehicle, good driver, bundled insurance, and air bags.
- Progressive offers discounts for online signing, good student, online quote discount, homeowner, continuous coverage, and multi-vehicle.
- Farmers Insurance has savings for homeowner, teen driver, switch companies, pay in full, business and professional, bundle discounts, and early shopping.
- Auto-Owners Insurance may include discounts for paperless, multi-policy, company car, safe vehicle, mature driver, group or association, and teen driver.
- SAFECO has discounts for accident prevention training, homeowner, teen safety rewards, safe driver, anti-theft, and bundle discounts.
The information below shows the comparison of insurance costs with and without discounts being applied to the rates. The premiums assume a male driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with homeowner, claim-free, multiple vehicle, safe-driver, defensive driving course, and accident-free discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance for immigrants is 28% or $562.
Comparing rates can save you money
Minnesota car insurance rates are based on many factors which can substantially decrease or increase the cost of your policy. Getting older, moving to a new city, or getting into an accident can produce rate changes that may make certain companies more affordable than the competition.
Also, insurers file new Minnesota car insurance rates multiple times each year to reflect underwriting profits or losses. A period of higher than normal claims can result in more expensive prices, while a better loss history can result in lower-cost Minneapolis car insurance rates.
To illustrate this point, the data below shows the company with the cheapest car insurance in Minneapolis, MN for a 40-year-old female driver with no accidents or violations, and a decent credit rating. When quoting prices based on her current risk profile, Travelers has the most affordable car insurance rates in Minneapolis at $895 annually. This is $526 less than the average price paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, The Hartford, and Western National are also on the list of the cheapest Minneapolis, MN auto insurance companies.
The chart below compares rates after we give the driver from the first example a chargeable accident, a little lower credit rating, and a blemish on her driving record. Since each auto insurance company has their own formula to establish rates, comparing rates may now show a different list of cheap Minneapolis auto insurance companies as shown below.
USAA now has the cheapest auto insurance in Minneapolis with Farm Bureau Mutual, Travelers, Allied, and California Casualty completing the list. This demonstrates why it is crucial to shop around when trying to find the most budget-friendly car insurance rates for immigrants.
Auto insurance prices are influenced by many risk factors and change frequently, so the lowest-price company three years ago may now not even be in the top five.