Finding cheaper auto insurance for a Chevrolet Equinox in Minnesota is pretty easy for most people to do, but it depends on many rating factors such as whether you are a homeower, the size of your vehicle, and driving violations. Drivers in Minnesota will pay around $1,245 per year to insure their Equinox, but that cost is an estimation calculated using a 30-year-old single male driver with full coverage and $100 deductibles.
Odds are that you are not 30 and maybe not even a male, maybe you are married instead of single, and maybe your Equinox is older and does not require full coverage. Have just a small change in rating criteria can result in a big discrepancy in how much coverage for a Chevrolet Equinox costs.
Auto insurance is unique to each driver, so the only real way to find cheap insurance prices for your Chevrolet is to just compare rates yourself. Price quotes are quick and you will receive rate quotes from top-rated car insurance companies that offer coverage in Minnesota.
The trim level of your vehicle will influence the yearly cost, so the rate you pay to insure a Equinox LS 2WD trim level will cost $128 less than the insurance cost for the high end Equinox LTZ AWD trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$312||$492||$416||$24||$124||$1,368||$114|
|Equinox LT 2WD||$312||$492||$416||$24||$124||$1,368||$114|
|Equinox LS AWD||$312||$492||$416||$24||$124||$1,368||$114|
|Equinox LT AWD||$312||$492||$416||$24||$124||$1,368||$114|
|Equinox LTZ 2WD||$352||$580||$416||$24||$124||$1,496||$125|
|Equinox LTZ AWD||$352||$580||$416||$24||$124||$1,496||$125|
|Equinox LTZ AWD||$352||$580||$416||$24||$124||$1,496||$125|
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in specific location information which can revise premiums substantially.
Insuring your vehicle with the best auto insurance provider can be difficult considering how many different companies insure vehicles in Minneapolis. The company information listed below could help you analyze which auto insurance companies to look at when trying find the best insurance for a Chevrolet Equinox. These ratings are for companies with a nationwide focus, so companies that may only write in Minnesota are not factored into this list.
Top 10 Major Car Insurance Companies in Minneapolis Ranked by Customer Satisfaction
- USAA – 92%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- The Hartford – 87%
- Progressive – 87%
- AAA Insurance – 87%
- Farmers Insurance – 87%
- Liberty Mutual – 87%
Top 10 Major Car Insurance Companies in Minneapolis Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Progressive – A+
- Allstate – A+
- The General – A-
Full coverage versus liability only rates
Saving money when shopping for auto insurance is the goal of the majority of vehicle owners, and one good way to pay less for insurance for a Chevrolet Equinox is to only pay for liability coverage. The diagram below illustrates the difference between annual premium costs with full physical damage coverage and with liability coverage only. The costs are based on no claims or driving violations, $1,000 deductibles, single status, and no additional discounts are factored in.
Averaged out for all age groups, comp and collision coverage costs an extra $1,578 per year more than carrying just liability coverage. That is a big expense that brings up the question if physical damage coverage is worth the money. There is no set guideline of when to phase out full coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
Auto insurance rates are higher with tickets and accidents
One of the best ways to get low auto insurance rates for an Equinox is to drive carefully and not get tickets or have accidents. The example below demonstrates how traffic citations and at-fault accidents drive up premium costs for different categories of driver ages. The rates are based on a single male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
In the prior example, the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,578. Get written up for one speeding ticket and the average cost swells to $1,780, an increase of $203 each year. Next add one accident along with the one speeding ticket and the annual cost of auto insurance for a Chevrolet Equinox goes up to an average of $2,340. That’s an increase of $763, or $64 per month, just for not paying attention while driving!
Discount Minneapolis car insurance rates
Auto insurance companies that offer coverage for a Chevrolet Equinox may additionally offer price discounts that could potentially reduce rates by 30% or more if you are eligible. A list of auto insurance companies and their offered discounts are outlined below.
- AAA may include discounts for good student, multi-policy, anti-theft, good driver, pay-in-full, AAA membership discount, and education and occupation.
- Progressive offers discounts including good student, online quote discount, homeowner, online signing, continuous coverage, multi-policy, and multi-vehicle.
- State Farm offers discounts for defensive driving training, good student, passive restraint, multiple autos, driver’s education, anti-theft, and safe vehicle.
- Esurance discounts include emergency road assistance, anti-lock brakes, Pac-12 alumni, good driver, good student, and Switch & Save.
- Nationwide has savings for defensive driving, easy pay, accident-free, anti-theft, business or organization, family plan, and Farm Bureau membership.
The example below visualizes the comparison of yearly insurance costs with and without discounts applied to the premium. The prices are based on a male driver, a clean driving record, no claims, 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 bar shows the rates with multiple policy, accident-free, vehicle safety, claim-free, passive restraint, and marriage discounts applied. When drivers qualify for the discounts, theaverage amount saved on auto insurance for a Chevrolet Equinox is 28% or $471.