How Much are Car Insurance Rates for Unemployed Drivers in Minneapolis?

One of the many things that are used to help calculate the amount you pay for auto insurance is your address. Areas with more people or even just a higher incidence of claims will most likely pay more, whereas more rural areas benefit from lower prices.

The illustration below rates the most expensive areas in Minnesota for unemployed drivers to purchase car insurance in. Minneapolis is ranked #1 with a yearly premium of $2,079 for coverage, which is about $173 per month.

How much does auto insurance cost in Minneapolis?
Rank City Annual Premium
1 Minneapolis $2,079
2 Maplewood $2,005
3 Saint Paul $1,988
4 Richfield $1,814
5 Coon Rapids $1,809
6 Brooklyn Park $1,798
7 Bloomington $1,792
8 Blaine $1,748
9 Woodbury $1,748
10 Duluth $1,741
11 Edina $1,725
12 Maple Grove $1,724
13 Eagan $1,712
14 Shakopee $1,710
15 Minnetonka $1,706
16 Eden Prairie $1,706
17 Saint Louis Park $1,702
18 Lakeville $1,700
19 Apple Valley $1,680
20 Plymouth $1,680
21 Burnsville $1,658
22 Rochester $1,639
23 Saint Cloud $1,636
24 Moorhead $1,520
25 Mankato $1,474
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Rates are comparative as the specific area where the vehicle is garaged can change prices noticeably.

The type of vehicle you are seeking coverage for is one of the biggest factors when shopping around for low-priced car insurance for unemployed drivers. Vehicles with lots of horsepower, poor safety ratings, or a history of substantial liability claims will cost more to insure than more economical and safe models.

The data below estimates insurance rates for a number of the cheapest vehicles to buy coverage for.

Cheapest Vehicles to Insure in Minneapolis, MN
Make, Model, and Trim Level Estimated Cost for Full Coverage
Ford Escape XLT 2WD $1,456
Chevrolet Equinox LS AWD $1,719
Dodge Grand Caravan Hero $1,724
Toyota RAV4 Limited 4WD $1,719
Volkswagen Jetta LE 4-Dr Sedan $1,724
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,752
Honda CR-V LX 2WD $1,785
Honda Accord LX 4-Dr Sedan $1,791
Hyundai Elantra SE 4-Dr Sedan $1,807
Toyota Corolla XLE $1,814
Nissan Rogue SL 2WD $1,845
Ford Explorer Eddie Bauer 2WD $1,870
Chevrolet Silverado 3500HD LT Crew Cab 2WD $1,872
Honda Civic EX-L 4-Dr Sedan $1,897
Ford F-350 Super Cab Harley Edition 2WD $1,905
Ford Focus SES 2-Dr Coupe $1,933
Chevrolet Impala LS $1,935
Toyota Camry Hybrid $1,965
Chevrolet Malibu LS $1,974
Jeep Grand Cherokee Laredo 4WD $1,981
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Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in zip code location which can revise coverage rates considerably.

Based upon the table data, you can infer that vehicles like the Ford Escape, Chevrolet Equinox, and Dodge Grand Caravan are most likely to be some of the less-costly vehicles to insure for the unemployed.

The information below demonstrates how choosing different deductibles can impact insurance costs when researching cheap insurance for unemployed drivers. The costs are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.

The data above shows that a 30-year-old driver could save $396 a year by increasing from a $100 deductible to a $500 deductible, or save $596 by using a $1,000 deductible. Even younger drivers, like the 20-year-old example, could roll back prices $1,176 or even more by choosing larger deductibles on their policy.

When choosing a higher deductible, it’s a good idea to have plenty of discretionary funds to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Liability only or full coverage

Saving money when shopping for auto insurance is probably important to most people, and one common way to find cheaper insurance for unemployed drivers is to only pay for liability coverage. The diagram below shows the comparison of yearly insurance costs when comparing full coverage to liability only. The rates are based on no accidents, no driving violations, $100 deductibles, single marital status, and no discounts are taken into consideration.

If all age groups are averaged, comp and collision coverage costs $1,821 per year over and above liability only. That is a large expense and it proposes the question if paying for full coverage is worth it. There is no written rule of when to phase out physical damage insurance, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s replacement cost is $11,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $10,500 after paying your deductible. If it’s costing you more than $1,050 annually for full coverage, then you might consider buying liability only.

How to find low-cost car insurance for unemployed drivers

Below you’ll find some of the better thrifty suggestions that can help Minnesota drivers get low-cost car insurance.

The last tip in the list is particularly valuable, as was discussed in this write-up. Prices charged by car insurance companies can change in a short period of time, so drivers shouldn’t hesitate to buy from a different company if a lower-cost policy is available.

Having brand loyalty is commendable, but it isn’t a good idea if that loyalty results in overpaying thousands of dollars over several years. If you have a few minutes, now is a great time to compare prices to find cheaper car insurance for unemployed drivers in Minneapolis.