How to Save on Toyota Highlander Insurance in Minneapolis

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Unfortunately, the vast majority of Minnesota auto insurance customers kept buying from the same company for more than four years, and virtually 40% of consumers have never shopped around. Consumers in the United States can cut their rates by about $859 a year by just comparing quotes, but they don't invest the time required to compare rate quotes.

Insurance quote for Toyota Highlander in MinneapolisIf saving the most money is your goal, then the best way to get cheaper Toyota Highlander insurance is to annually compare prices from insurers in Minneapolis. You can compare rates by following these guidelines.

  • Step 1: Gain an understanding of the different coverages in a policy and the modifications you can make to prevent expensive coverage. Many policy risk factors that drive up the price such as traffic violations and an imperfect credit score can be remedied by making minor driving habit or lifestyle changes. This article gives more details to help reduce prices and find discounts that you may qualify for.
  • Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like Progressive or State Farm, while independent agents can quote prices from multiple sources.
  • Step 3: Compare the quotes to the price on your current policy to determine if you can save on Highlander insurance. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
  • Step 4: Give notification to your agent or company of your intent to cancel your current coverage and submit a down payment and signed policy application to the new insurer. Don't forget to safely store the proof of insurance certificate with the vehicle registration.

A good tip to remember is to make sure you're comparing identical coverages on every quote and and to get price quotes from all possible companies. This ensures an accurate price comparison and a better comparison of the market.

If you already have coverage, you will surely be able to find the best rates using this strategy. Quoting and comparing rates for more affordable car insurance in Minneapolis is not as confusing as people think. Although Minnesota consumers do need to know how companies price online insurance and use this information to your advantage.

When comparing insurance rates, know that having more price comparisons helps improve the odds of finding more affordable rates. Not every company allows you to get online Minneapolis Highlander insurance quotes, so you should also compare quotes from those companies as well.

The car insurance companies shown below provide price comparisons in Minneapolis, MN. To locate the cheapest auto insurance in Minnesota, we suggest you visit several of them to find the cheapest car insurance rates.

Insurance discounts are available to cut your rates

Car insurance companies don't necessarily list every possible discount in an easy-to-find place, so below is a list some of the best known in addition to some of the lesser obvious savings tricks you should be using when you buy Minneapolis car insurance online.Insurance discounts

  • Policy Bundle Discount - If you can bundle your auto and home insurance and place coverage with the same company you could save approximately 10% to 15%.
  • Good Student - Getting good grades can be rewarded with saving of up to 25%. The good student discount can last well after school through age 25.
  • One Accident Forgiven - This one isn't a discount, but companies like State Farm and GEICO will turn a blind eye to one accident before raising your premiums so long as you haven't had any claims for a certain period of time.
  • Multi-Vehicle Discounts - Buying coverage for multiple cars or trucks on a single policy can get a discount on all vehicles.
  • Drive Less and Save - Driving less may enable drivers to earn better rates on cars that stay parked.
  • Federal Government Employee - Federal government employees could qualify for a slight premium decrease with certain companies.
  • Student Driver Training - It's a good idea to have your young drivers enroll and complete driver's education in school or through a local driver safety program.
  • Data Collection Discounts - Policyholders that allow companies to spy on where and when they drive by using a telematic data system such as Allstate's Drivewise and State Farm's In-Drive system may get a rate reduction if they exhibit good driving behavior.
  • Life Insurance Discount - Not all insurance companies offer life insurance, but some may give you a small discount if you purchase life insurance from them.
  • Home Ownership Discount - Owning a house in Minneapolis can earn you a little savings because of the fact that having a home requires personal responsibility.

Just know that most of the big mark downs will not be given to the entire cost. The majority will only reduce specific coverage prices like liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, it just doesn't work that way.

The diagram below illustrates the difference between Toyota Highlander insurance rates with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no claims or driving violations, Minnesota state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, claim-free, homeowner, and multi-car discounts applied.

A partial list of companies who might offer these money-saving discounts may include but are not limited to:

Double check with all the companies which discounts can lower your rates. Depending on the company, some discounts may not apply to policyholders in your area.

Rates and statistics

The table displayed below outlines a range of coverage costs for Toyota Highlander models. Having a good grasp of how car insurance prices are formulated can be of help when making decisions on which coverage to buy.

Toyota Highlander Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Highlander 2WD $168 $262 $428 $26 $128 $1,012 $84
Highlander 4WD $190 $320 $428 $26 $128 $1,092 $91
Highlander Sport 4WD $190 $320 $428 $26 $128 $1,092 $91
Highlander SE 2WD $190 $320 $428 $26 $128 $1,092 $91
Highlander Sport 2WD $190 $320 $428 $26 $128 $1,092 $91
Highlander Limited 2WD $212 $376 $428 $26 $128 $1,170 $98
Highlander SE 4WD $212 $376 $428 $26 $128 $1,170 $98
Highlander Limited 4WD $212 $376 $428 $26 $128 $1,170 $98
Highlander Hybrid 4WD $212 $376 $428 $26 $128 $1,170 $98
Highlander Hybrid Limited 4WD $212 $376 $428 $26 $128 $1,170 $98
Get Your Own Custom Quote Go

Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific location which can increase or decrease coverage rates substantially.

Higher deductibles save money

The hardest decision when buying coverage is where to set your physical damage deductibles. The data tables below approximate the rate fluctuation when you buy lower versus higher insurance deductibles. The first set of rates uses a $250 physical damage deductible and the second price chart uses a $500 deductible.

Toyota Highlander insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Highlander 2WD $246 $340 $318 $18 $94 $1,041 $87
Highlander 4WD $276 $414 $318 $18 $94 $1,145 $95
Highlander Sport 4WD $276 $414 $318 $18 $94 $1,145 $95
Highlander SE 2WD $276 $414 $318 $18 $94 $1,145 $95
Highlander Sport 2WD $276 $414 $318 $18 $94 $1,145 $95
Highlander Limited 2WD $308 $486 $318 $18 $94 $1,249 $104
Highlander SE 4WD $308 $486 $318 $18 $94 $1,249 $104
Highlander Limited 4WD $308 $486 $318 $18 $94 $1,249 $104
Highlander Hybrid 4WD $308 $486 $318 $18 $94 $1,249 $104
Highlander Hybrid Limited 4WD $308 $486 $318 $18 $94 $1,249 $104
Get Your Own Custom Quote Go
Toyota Highlander insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Highlander 2WD $200 $274 $318 $18 $94 $904 $75
Highlander 4WD $224 $334 $318 $18 $94 $988 $82
Highlander Sport 4WD $224 $334 $318 $18 $94 $988 $82
Highlander SE 2WD $224 $334 $318 $18 $94 $988 $82
Highlander Sport 2WD $224 $334 $318 $18 $94 $988 $82
Highlander Limited 2WD $250 $392 $318 $18 $94 $1,072 $89
Highlander SE 4WD $250 $392 $318 $18 $94 $1,072 $89
Highlander Limited 4WD $250 $392 $318 $18 $94 $1,072 $89
Highlander Hybrid 4WD $250 $392 $318 $18 $94 $1,072 $89
Highlander Hybrid Limited 4WD $250 $392 $318 $18 $94 $1,072 $89
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Estimates do not factor in specific zip code location which can increase or decrease coverage prices noticeably.

Based on the figures above, using a $250 deductible will cost you approximately $14 more each month or $168 every year averaged for all Highlander models than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 18 months between claims, you would probably come out ahead if you opt for a higher deductible.

How to decide to raise your deductibles

Average monthly premium for $250 deductibles: $99
Average monthly premium for $500 deductibles (subtract): - $85
Monthly savings from raising deductible: $14
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

One important issue to know is that increasing deductibles to lower your rates results in having to pay to pay more out-of-pocket when you have a physical damage claim. You must have some savings in the bank in the event you have to pay the higher deductible in order to repair your vehicle.

Rate comparison of men versus women in Minneapolis

The diagram below shows the difference between Toyota Highlander insurance costs for male and female drivers. Data assumes no claims or driving violations, comprehensive and collision coverage, $100 deductibles, single status, and no discounts are applied to the premium.

How much more does full coverage cost in Minneapolis?

The information below illustrates the difference between Toyota Highlander insurance rates when comparing full coverage to liability only. Data assumes no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no set rule to delete physical damage coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it's probably a good time to buy liability coverage only.

For example, let's assume your Toyota Highlander replacement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $4,000 after paying the physical damage deductible. If it's costing in excess of $400 a year for full coverage, then you may need to consider dropping full coverage.

There are a few cases where buying only liability insurance is not advised. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not opt for liability only.

What is the best car insurance company in Minnesota?

Selecting a high-quality auto insurance provider can be rather challenging considering how many companies provide coverage in Minneapolis. The company information listed below may help you pick which car insurance providers you want to consider when comparing rate quotes.

Top 10 Minneapolis Car Insurance Companies by A.M. Best Rank

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

Top 10 Minneapolis Car Insurance Companies Ranked by Value

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

How do Insurers Determine Toyota Highlander Insurance Prices?

Many different elements are taken into consideration when you get a price on insurance. Some are pretty understandable like an MVR report, although others are less apparent such as your credit history or your commute time.

You may save more by combining policies - Most insurance companies will award better rates for people who have multiple policies with them in the form of a multi-policy discount. This can amount to ten or even fifteen percent. If you currently are using one company, you may still want to comparison shop to help guarantee you have the best rates.

Safer vehicles cost less to insure - Vehicles that have high safety ratings tend to be cheaper to insure. Vehicles built for safety reduce the chance of injuries and any reduction in injury severity means less claims paid which can result in lower premiums.

Liability coverage is peace of mind - A critical coverage on your policy, liability insurance is the coverage that protects you when you are found liable for personal injury or accident damage. Liability insurance provides legal defense up to the limits shown on your policy. It is affordable coverage compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.

Cheaper insurance rates using theft deterrents - Driving a car that has an advanced theft prevention system can get you a discount on your insurance. Theft deterrent systems such as OnStar, LoJack tracking, and tamper alarms all help stop auto theft.

Minor frequent claims are not good - If you're an insured who likes to file claims you should expect either policy cancellation or increased premiums. Companies in Minnesota award the best rates to insureds who do not rely on their insurance for small claims. Insurance coverage is intended to be relied upon for more catastrophic claims.

Big cities mean more claims - Residing in smaller towns and rural areas of the country can save you money when buying insurance. Fewer people translates into fewer accident claims in addition to lower liability claims. People in densely populated areas have congested traffic and more time behind the wheel. Spending more time driving means more chances of being involved in an auto accident.

Teenagers vs. mature drivers - Teenage drivers in Minnesota are statistically shown to get distracted easily when driving with friends so insurance rates are higher. Older drivers tend to be more responsible, cause fewer claims and accidents, and tend to be get fewer driving tickets.

The data below uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

Claims statistics for a Toyota Highlander - Companies use past loss statistics for each vehicle when determining insurance costs. Vehicles that are shown to have higher loss trends will have a higher premium rate.

The table below outlines the compiled insurance loss statistics for Toyota Highlander vehicles. For each coverage category, the statistical loss for all vehicles combined as an average is equal to 100. Numbers shown that are under 100 imply a favorable loss record, while values that are above 100 indicate a higher chance of having a claim or larger claims.

Toyota Highlander Insurance Loss Statistics
Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Highlander 4dr 2WD 88 82 94 94 78 75
Toyota Highlander 4dr 4WD 95 86 117 88 74 78
Toyota Highlander Hybrid 4dr 4WD 111 143
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years