Buying affordable auto insurance for a Toyota Tacoma in Minnesota hinges on many rating criteria such as the mileage of your daily commute, your credit rating, and any past driving violations you may have had. Drivers in Minnesota pay around $767 each year to insure their Tacoma, but that is an approximation calculated based on a 50-year-old single female driver with both comprehensive and collision coverage and $1,000 deductibles.
But there is a good chance that you may not be 50 years old (or even female), possibly married instead of single, or maybe you’re a renter instead of a homeowner. Have just a small change in rating criteria could end up with a large change in policy price.
Auto insurance requires individual risk assessment, so the best way to find the cheapest coverage for your Toyota is to do the rate comparisons yourself.
Vehicle trim level can impact the coverage cost, so the cost to insure a Tacoma 2WD model will be $32 less than the cost to insure the more well-appointed Tacoma Double Cab TRD Sport Package 4WD model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$130||$254||$358||$22||$108||$872||$73|
|Tacoma X-Runner 2WD||$130||$300||$358||$22||$108||$918||$77|
|Tacoma Double Cab 4WD||$146||$254||$358||$22||$108||$888||$74|
|Tacoma Double Cab TRD Off-Road Package 4WD||$146||$254||$358||$22||$108||$888||$74|
|Tacoma Double Cab TRD Sport Package 4WD||$146||$254||$358||$22||$108||$888||$74|
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Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rates do not factor in your specific Minneapolis location which can modify price quotes greatly.
Finding decent, reasonably-priced auto insurance is confusing at best, and determining which companies quote the best auto insurance rates for a Toyota Tacoma will take even more rate comparisons.
Each company uses a little different formula for setting rates, so to begin we’ll rank the auto insurance companies with the overall cheapest rates in Minneapolis, MN.
Best Cheap Insurance Rates for Your Tacoma
|Rank||Company||Cost Per Year|
|3||Farm Bureau Mutual||$837|
|6||West Bend Mutual||$981|
|14||Auto Club Group||$1,380|
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Travelers normally has some of the best car insurance rates in Minneapolis at around $661 a year. USAA, Farm Bureau Mutual, Western National, and The Hartford would also be considered some of the lowest-priced Minneapolis, MN auto insurance companies.
As depicted above, if you are insured with USAA and switched to Travelers, you may see yearly savings of around $162. Policyholders with Farm Bureau Mutual could save as much as $176 a year, and Western National customers might lower prices by $276 a year.
These policy rates are averages across all drivers and vehicles in Minnesota and do not take into consideration a vehicle location for a Toyota Tacoma. So the car insurance company that is best for you may not even be in the top 24 companies shown above. That underscores the importance of why you need to get rate quotes using your own specific driver information and vehicle.
Get discounts on Minneapolis auto insurance rates
Insurance providers that provide policies for a Toyota Tacoma may also offer premium discounts that can lower rates by as much as 25% or more if you meet specific criteria. Large auto insurance companies and some of the discounts can be read below.
- State Farm includes discounts for passive restraint, multiple autos, Drive Safe & Save, driver’s education, accident-free, good driver, and multiple policy.
- Farmers Insurance may include discounts for teen driver, business and professional, electronic funds transfer, distant student, early shopping, homeowner, and mature driver.
- Progressive offers premium reductions for multi-vehicle, online quote discount, multi-policy, homeowner, continuous coverage, good student, and online signing.
- GEICO offers discounts including five-year accident-free, emergency military deployment, military active duty, membership and employees, good student, daytime running lights, and anti-theft.
- Auto-Owners Insurance may have discounts that include safe driver, multiple vehicles, anti-theft, good student, mature driver, multi-policy, and air bags.
- The Hartford has savings for driver training, bundle, air bag, vehicle fuel type, good student, anti-theft, and defensive driver.
- Farm Bureau offers discounts for multi-policy, multi-vehicle, 55 and retired, good student, driver training, renewal discount, and youthful driver.
- USAA discounts include new vehicle, annual mileage, good student, driver training, and multi-vehicle.
The diagram below visualizes the comparison of insurance prices with and without policy discounts. The costs are based on a female driver, a clean driving record, no claims, Minnesota state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple policy, accident-free, marriage, homeowner, multiple vehicle, and safe-driver discounts applied. In this example, theaverage yearly reduction on auto insurance for a Toyota Tacoma is 28% or $556.
Can you find cheaper Tacoma insurance?
Minnesota auto insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Improving your credit rating, moving to a new city, or getting caught speeding can trigger rate changes that can make some companies affordable when they were higher priced.
In addition, insurance companies file new rates without warning to adjust for gains or losses. A period of higher than normal claims may cause a rate increase, while a lower level of claims may produce cheaper Tacoma insurance rates.
To illustrate this point, the data below shows the cheapest car insurance in Minneapolis, MN for a 40-year-old female driver with no violations or accidents, and great credit. If we estimate rates based on her current rating profile, Travelers may offer the cheapest car insurance rates in Minneapolis at $913 annually. This is $508 less than the average rate paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and The Hartford round out the rest of the cheapest Minneapolis, MN auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison a chargeable claim, poor credit, and a stop sign violation. Since each auto insurance company has a unique approach to determine rates, analyzing rate quotes could now result in a completely different list of affordable companies as shown below.
USAA now has the best car insurance rate in Minneapolis, MN with Farm Bureau Mutual, Allied, State Farm, and Travelers now rounding out the top five. This example proves why it is critical to perform an extensive rate comparison to get affordable insurance rates for a Toyota Tacoma.
Prices are influenced by many different factors and can change substantially, so the most affordable company the last time you shopped around may now be priced much higher than other options.