It’s safe to conclude that insurance companies don’t want their customers to go rate shopping. People who compare rates annually are very likely to switch car insurance companies because there is a good probability of finding lower prices. A recent car insurance study revealed that consumers who shopped around saved over $3,500 over four years compared to other drivers who never compared other company’s rates.
If finding the cheapest price on car insurance in Minneapolis is your ultimate objective, then knowing how to find companies and compare insurance can save time and money.
If you want to find the absolute lowest rates, then the best way to get low-cost Acura ILX insurance in Minneapolis is to regularly compare prices from insurance carriers who sell auto insurance in Minnesota. Drivers can shop around by following these steps.
- First, learn about car insurance and the modifications you can make to prevent expensive coverage. Many rating criteria that cause rate increases like traffic tickets, fender benders, and a low credit score can be amended by being financially responsible and driving safely.
- Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide rate quotes from multiple insurance companies.
- Third, compare the new rate quotes to your current policy to see if cheaper ILX coverage is available. If you can save money and change companies, make sure coverage does not lapse between policies.
- Fourth, give notification to your current company of your intention to cancel your existing policy. Submit a down payment along with a completed application to your new agent or company. As soon as coverage is bound, put the new proof of insurance certificate in an easily accessible location.
One thing to point out is to use identical limits and deductibles on each quote and and to get rates from as many car insurance companies as possible. Doing this guarantees an apples-to-apples comparison and the best price selection.
The Acura ILX Insurance Rate Equation
The best way to find cheaper insurance is to take a look at some of the elements that help calculate the rates you pay for insurance. If you have some idea of what controls the rates you pay, this enables you to make decisions that can help you get cheaper rates.
- Liability insurance limits should be high – The liability section of your policy is the protection if you are ruled to be at fault for an accident. Your policy’s liability insurance provides legal defense coverage which can cost a lot. Liability is cheap when compared to the cost of physical damage coverage, so buy as much as you can afford.
- Better drivers pay the best costs – Drivers with clean records get better prices than their less careful counterparts. Just one ticket could increase your next policy renewal to the point where it’s not affordable. Drivers who have received flagrant violations such as DUI or reckless driving may find that they have to to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to prevent their license from being revoked.
- Raise comp and collision deductibles and save – Insurance for physical damage to your car, also known as collision and other-than-collision, covers damage that occurs to your Acura. Some coverage claims could be a dented fender, flood damage, or theft. Comp and collision deductibles state the amount of money you are required to pay before a claim is paid by your company. The more money you have to pay, the lower your rates will be.
- Having a spouse can save you money – Having a significant other can actually save you money on your policy. Having a spouse translates into being more financially stable and it’s statistically proven that married couples file fewer claims.
- Alarm systems lowers premiums – Buying a car with a theft deterrent system can save you a little every year. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help stop auto theft and help lower rates.
- Does car insurance cost less for women? – Statistics demonstrate females are less aggressive when driving. However, this does not mean females are better drivers. Females and males are in auto accidents in similar numbers, but the male of the species have costlier accidents. Men also get ticketed for serious violations such as reckless driving. Teenage male drivers cause the most accidents and therefore have the most expensive insurance rates.
- Uninterrupted coverage lowers prices – Not maintaining insurance is against the law and you will pay a penalty because you let your insurance lapse. Not only will you pay more, failure to provide proof of insurance may earn you a license revocation or jail time. You will then be forced to prove you have insurance by filing a SR-22 with the Minnesota department of motor vehicles.
Insurance loss probability for an Acura ILX – Insurers analyze the history of losses when determining insurance costs. Models that the statistics show to have higher frequency or amount of claims will cost more to insure.
The next table shows the historical insurance loss data for Acura ILX vehicles. For each policy coverage, the claim amount for all vehicles, regardless of manufacturer or model, is set at 100. Values that are under 100 indicate a favorable loss history, while numbers shown that are more than 100 indicate higher probability of having a loss or larger claims.
Auto Insurance Loss Data for Acura ILX Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Acura ILX 96 94 83 112 111 97BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Finding cheaper Minneapolis car insurance prices is surprisingly easy. Drivers just need to spend a few minutes comparing rates to see which company has cheaper Minneapolis auto insurance quotes.
The companies in the list below have been selected to offer free quotes in Minneapolis, MN. If you wish to find cheap car insurance in Minnesota, it’s a good idea that you visit several of them to get the cheapest price.
Auto insurance just makes sense
Despite the high cost, insuring your vehicle is a good idea for several reasons.
- The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage in order to license the vehicle. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your ILX has a lienholder, most lenders will make it mandatory that you carry insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Acura at a much higher premium rate and require you to reimburse them for it.
- Insurance protects both your assets and your car. It will also reimburse you for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability insurance will also pay attorney fees if you are named as a defendant in an auto accident. If your Acura gets damaged, your policy will pay to have it repaired.
The benefits of insuring your ILX more than cancel out the cost, specifically if you ever have a liability claim. But the average driver in Minnesota is currently overpaying as much as $700 annually so compare rates every year to be sure current rates are still competitive.
Discount Minneapolis car insurance quotes
Companies that sell car insurance don’t necessarily list the complete list of policy discounts in an easy-to-find place, so the list below gives a summary of a few of the more well known and the more hidden discounts that you can inquire about if you buy Minneapolis auto insurance online.
- Driver’s Education for Students – Require your teen driver to participate in a local driver’s education class in school.
- Theft Prevention Discount – Cars and trucks that have factory anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Low Mileage Discounts – Low mileage vehicles may allow you to get lower premium rates due to less chance of an accident.
- Claim-Free Discount – Minneapolis drivers who stay claim-free have much lower rates compared to bad drivers.
- Seat Belt Usage – Buckling up and requiring all passengers to buckle their seat belts can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
Don’t be surprised that some credits don’t apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So when it seems like all those discounts means the company will pay you, companies don’t profit that way.
Some companies that may offer policyholders many of the previously listed discounts include:
When getting free Minneapolis auto insurance quotes, it’s a good idea to every company the best way to save money. Some discounts may not apply to policyholders in every state. To locate companies with the best Acura ILX insurance discounts in Minneapolis, follow this link.
Neighborhood Minneapolis auto insurance agents
Some consumers would rather visit with an insurance agent and that is a smart decision Agents can help you build your policy and help you file claims. One of the great benefits of comparing auto insurance online is you can get cheap rate quotes and still have a local agent. And providing support for local agents is especially important in Minneapolis.
For easy comparison, once you complete this simple form, your insurance data is emailed to local insurance agents that provide free Minneapolis auto insurance quotes and help you find cheaper coverage. You won’t even need to visit any agencies since rate quotes are delivered directly to your email. If you have a need to get a rate quote from a specific company, you just need to find their quoting web page and complete a quote there.
Below is a short list of insurance companies in Minneapolis that can give you price quote information for Acura ILX insurance in Minneapolis.
- Patrick J. Thomas Agency
121 S 8th St #980 – Minneapolis, MN 55402 – (612) 339-5522 – View Map
- Shamrock Agencies
1 Groveland Terrace #102 – Minneapolis, MN 55403 – (952) 474-0929 – View Map
- Landreau Insurance Group Inc
2615 E Franklin Ave – Minneapolis, MN 55406 – (612) 276-7035 – View Map
- Horizon Agency Inc
11000 W 78th St – Minneapolis, MN 55423 – (952) 944-2929 – View Map
Choosing the best insurer shouldn’t rely on just a low price. The questions below may impact your decision as well.
- Will you work with the agent or an assistant?
- How long has their agency been in business in Minneapolis?
- Is working in the agency their full-time job?
- Does the agency have a good rating with the Better Business Bureau?
- Does the agency provide any after hours assistance?
- Which company do they place the most coverage with?
- Will a damage claim use OEM or aftermarket replacement parts?
A little work can save a LOT of money
Some insurance providers may not offer rates over the internet and many times these smaller providers prefer to sell through independent insurance agencies. Cheap Acura ILX insurance in Minneapolis can be found both online as well as from insurance agents, and you should compare price quotes from both to have the best chance of lowering rates.
We covered some good ideas how you can compare Acura ILX insurance rates in Minneapolis. The key concept to understand is the more quotes you get, the higher your chance of finding affordable Acura ILX insurance quotes. Consumers may even find the biggest savings come from a smaller regional carrier.
People who switch companies do it for many reasons like delays in paying claims, an unsatisfactory settlement offer, denial of a claim and even extreme rates for teen drivers. It doesn’t matter why you want to switch finding a great new company can be pretty painless.
To read more, feel free to visit the resources below:
- Parking Tips to Reduce Door Dings (State Farm)
- Who Has Affordable Minneapolis Auto Insurance for a Honda Civic? (FAQ)
- How Much is Minneapolis Car Insurance for College Students? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- What is a Telematics Device? (Allstate)