Shopping around for budget insurance is hard enough, and finding out which company has the best car insurance rates for safe drivers requires a little more work. Every car insurance company uses different criteria to set their prices, so let’s rank the most budget-friendly car insurance companies in Minnesota.
It’s important that you understand Minneapolis, MN car insurance rates are impacted by many things which can significantly increase or decrease your annual premium. This price fluctuation is why it is critical to do a thorough rate comparison when trying to find the lowest car insurance quotes for safe drivers. Car insurance prices are influenced by many different factors and change dramatically, so the lowest-price company a year ago may now be quite expensive.
Cheapest Insurance Rates for Safe Drivers
|Rank||Company||Cost Per Year|
|2||Farm Bureau Mutual||$805|
|6||West Bend Mutual||$972|
|15||Auto Club Group||$1,393|
|View More Rates Go|
Travelers offers some of the most affordable car insurance rates in Minneapolis at around $661 annually. Farm Bureau Mutual, USAA, Western National, and The Hartford would also make the list of some of the more affordable Minneapolis, MN insurance companies.
As illustrated above, if you have coverage with USAA and switched to Travelers, you may realize an annual savings of in the vicinity of $146. Drivers with Western National may save as much as $249 a year, and The Hartford customers might lower prices by up to $275 a year.
If you would like to find cheaper car insurance rates, click here to get a free quote or visit several of the following companies.
Bear in mind that those rates are averaged across all drivers and vehicles in Minnesota and are not factoring in an exact location for safe drivers. So the company that fits your needs best may not even be in the top 24 companies shown above. That emphasizes why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
The type of vehicle to be insured is probably the biggest factor that determines if you can find low-cost coverage for safe drivers. Vehicles with high performance, poor crash test ratings, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models. The data below shows coverage premiums for a handful of the more affordable vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$1,444|
|Ford Escape XLS 2WD||$1,453|
|Honda CR-V EX-L 2WD||$1,477|
|Volkswagen Jetta S 2.5 Station Wagon||$1,569|
|Ford Focus SE 4-Dr Sedan||$1,680|
|Toyota RAV4 Sport 4WD||$1,712|
|Ford F-150 XL Super Cab 2WD||$1,731|
|Dodge Grand Caravan SXT||$1,745|
|Toyota Tacoma 4WD||$1,769|
|Honda Odyssey EX-L||$1,805|
|Hyundai Sonata GLS 4-Dr Sedan||$1,834|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,870|
|Jeep Grand Cherokee Laredo 2WD||$1,872|
|Chevrolet Malibu Hybrid||$1,877|
|Toyota Camry LE||$1,929|
|GMC Sierra Denali Crew Cab 4WD||$1,962|
|Ford Explorer Limited AWD||$1,973|
|Chevrolet Impala LTZ||$1,975|
|Hyundai Elantra Blue 4-Dr Sedan||$1,978|
|Ford F-350 Super Cab Cabela Turbo Diesel 2WD||$1,994|
|Nissan Rogue S AWD||$2,005|
|Chevrolet Equinox LTZ AWD||$2,013|
|Get a Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium amounts do not factor in specific location which can change price quotes considerably.
Based on these rates, vehicles like the Honda Accord, Ford Escape, Honda CR-V, and Volkswagen Jetta are some of the less-costly vehicles to insure for good drivers.
For good drivers, one of the largest factors that aid in calculating the amount you pay each year for auto insurance is where you keep your car. Areas with increased crime or more people are more likely to pay higher prices, whereas areas that tend to be more rural benefit from lower coverage costs.
The illustration below shows the most expensive places in Minnesota for safe drivers to purchase a policy in. Minneapolis makes the list at #1 with the annual price of $2,079 for the average policy, which is about $173 monthly.
|Rank||City||Average Per Year|
|16||Saint Louis Park||$1,702|
|Get a Custom Quote Go|
Table data uses approximated as the specific Minneapolis residence address can revise insurance rates noticeably.
Picking the highest-rated car insurance company can be a challenge considering how many companies there are in Minnesota. The company information below could help you pick which coverage providers you want to consider when insurance shopping for safe drivers. The rankings below only include companies that write coverage in many states, so companies that may only write in Minnesota will not be included in the list.
Top 10 Large Auto Insurance Companies in Minneapolis Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Liberty Mutual
- The Hartford
- Farmers Insurance
Top 10 Large Auto Insurance Companies in Minneapolis Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Drive safe and save
The common sense way to score the best car insurance rates for good drivers is to be a good driver and not get tickets or have accidents. The illustration below shows how violations and accident claims drive up auto insurance costs for each age group. Data assumes a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.
In the previous example, the average cost of car insurance in Minnesota per year with no accidents or violations is $2,027. Factor in two speeding tickets and the average cost swells to $2,694, an increase of $667 each year. Now add in one accident along with the two speeding tickets and the yearly cost of car insurance for safe drivers jumps again to an average of $3,366. That’s an increase of $1,339, or $112 per month, just for not paying attention while driving!
Why you are probably overpaying for car insurance
Minnesota car insurance rates are influenced by many factors which can substantially decrease or increase the cost of having a policy. Getting older, buying a home instead of renting, or having an accident can trigger rate changes resulting in some rates now being cheaper than competitors.
In addition to those changes, companies file new Minnesota auto insurance rates every year to ensure their profitability. Higher than normal claims can result in increased rates, while profitable underwriting can produce lower-cost Minneapolis car insurance rates.
For instance, the bar chart below demonstrates which company has the cheapest car insurance in Minneapolis, MN for a 45-year-old female driver with no prior claims, no tickets, and good credit. If we estimate prices based on her current risk profile, Travelers might quote the best car insurance rates in Minneapolis at $904 a year. This is $517 less than the average premium paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and The Hartford are the rest of the top five cheapest Minneapolis, MN auto insurance companies.
The example below compares rates after we give the driver from above a chargeable claim, a lower credit rating, and a few blemishes on her driving record. Since every insurance provider has a proprietary method for establishing rates, analyzing rate quotes will most likely result in a slightly different list of the cheapest Minneapolis car insurance companies as shown below.
Farm Bureau Mutual now has the lowest car insurance rate in Minneapolis with Allied, USAA, California Casualty, and Western National completing the list. This example proves why drivers need to perform an extensive rate comparison to get the most budget-friendly insurance rates for safe drivers.
Prices are influenced by many risk factors and can increase or decrease at any time, so the cheapest option six months ago may now cost much more than other companies.
How to find economical car insurance for safe drivers
Below you’ll find some of the better money-saving ideas that can help Minnesota drivers quote cheap auto insurance.
- Vehicles with good safety ratings have lower liability rates
- Higher credit ratings may save you money
- Having at-fault accidents will increase rates
- Keep your driving record clean
- Higher deductibles mean lower rates
- Look for cheaper rates once a year by shopping around
The last item on the list is particularly significant, as we hit on in this piece. Car insurance prices in Minneapolis can change in a short period of time, so drivers shouldn’t be resistant to switch to a new company if a better rate can be found.
Sticking with a specific company is fine, but it isn’t a good idea if it’s costing you money that could be used for better things. It takes less than five minutes to shop around to find cheaper insurance for safe drivers.
The insurance agencies listed below are a good start to help you decide which is the best policy, since many consumers aren’t sure which coverage to buy and prefer to have a consultation when shopping for cheaper insurance for safe drivers. It’s not always easy to find the cheapest car insurance policy, and professional agents can provide satisfaction knowing you have sufficient protection if you have a claim. To find an agent closest to you, click the button at the bottom or click here to compare prices now.
- TCF Agency Insurance Services Inc
801 S Marquette Ave – Minneapolis, MN 55402 – (612) 661-8400
- Dedicated Insurance
2736 Lyndale Ave S – Minneapolis, MN 55408 – (612) 872-4004
- Farmers Insurance: Travis Marcellus
2846 Johnson St NE – Minneapolis, MN 55418 – (612) 789-4341
- True Insurance Agency and Financial Services – Minneapolis Home and Auto Insurance
4708 Excelsior Blvd – St Louis Park, MN 55416 – (952) 388-2006