For a learners permit, one of the more important considerations that aid in calculating the price you pay for insurance is where your residence is. Cities with larger populations tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents benefit from lower coverage costs.
The illustration below sorts the highest-priced places in Minnesota for a school permit to purchase auto insurance in. Minneapolis is listed at #1 with an annual cost of $2,079 for the average insurance policy, which is approximately $173 monthly.
|7||Saint Louis Park||$1,754|
|Find Cheaper Rates Go|
Premium amounts are estimated as vehicle location can affect premiums noticeably.
Locating low-priced auto insurance is difficult, and deciding which insurers offer the cheapest auto insurance rates for a school permit takes even more work. Every car insurance company uses their own formula for establishing rates, so we'll take a look at the overall cheapest auto insurance companies in Minneapolis, MN.
Find the Best Cheap Insurance for Students
|Rank||Company||Cost Per Year|
|2||Farm Bureau Mutual||$813|
|6||West Bend Mutual||$981|
|15||Auto Club Group||$1,393|
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Travelers offers some of the cheapest car insurance rates in Minneapolis at around $667 per year. Farm Bureau Mutual, USAA, The Hartford, and Western National would also make the list of some of the cheapest Minneapolis, MN car insurance companies.
In the rate table above, if you currently have a policy with USAA and switched to Travelers, you may see yearly savings of in the neighborhood of $156. Customers with The Hartford may save as much as $259 a year, and Western National insureds might reduce rates by $270 a year.
To compare your rates to other Minnesota insurance companies, click here or visit any of the companies below.
Remember that these estimates are averaged for all types of drivers and the different vehicles they drive and do not take into consideration a specific vehicle garaging location for a school permit. So the auto insurance company that fits your age and vehicle best may not even be in the top 24 companies shown above. That helps illustrate why you need to compare as many prices as possible using your own individual information.
The car, truck, or SUV that is being insured is one of the main factors when comparing the cheapest coverage for a school permit. Vehicles with high performance, poor safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer models. The data below outlines coverage premiums for a selection of the cheapest vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$5,608|
|Ford Escape XLT 4WD||$5,614|
|Ford Explorer Eddie Bauer 2WD||$6,254|
|Ford F-150 XL Crew Cab 4WD||$6,303|
|Volkswagen Jetta SE 2.5 Station Wagon||$6,332|
|Toyota RAV4 Limited 4WD||$6,593|
|Chevrolet Equinox LT 2WD||$6,598|
|Dodge Grand Caravan Hero||$6,593|
|Chevrolet Malibu LS||$6,603|
|Chevrolet Impala LT||$6,593|
|Toyota Tacoma Double Cab 4WD||$6,641|
|Ford Focus SES 4-Dr Sedan||$6,880|
|Honda Civic LX-S 4-Dr Sedan||$6,889|
|Ford Edge Limited AWD||$6,931|
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Data based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in garaging location in Minneapolis, MN which can impact auto insurance rates considerably.
Based upon these rates, you can conclude that models like the Honda CR-V, Ford Escape, and Toyota Prius are most likely going to be a few of the cheaper vehicles to insure for a learners permit. The cost of a car insurance policy will be more costly just because there is more liability exposure for a school permit, but generally speaking those specific models will have the lowest insurance rates compared to other vehicles.
Insuring your vehicle with a good quality auto insurance provider is difficult considering how many choices drivers have in Minneapolis. The company ratings displayed below can help you pick which auto insurance companies to look at when comparing rates. The rankings below are only comprised of companies with a national presence, so smaller companies are not taken into consideration for these rankings.
Top 10 Major Auto Insurance Providers in Minneapolis Ranked by Value
- AAA Insurance
- Liberty Mutual
- State Farm
- Safeco Insurance
- 21st Century
Discount Minneapolis insurance rates
Insurance providers that offer cheap quotes for a school permit may also offer discounts that may potentially lower prices by 30% or more if you qualify. A list of companies and some of their more popular discounts are detailed below.
- State Farm has discounts for Steer Clear safe driver discount, passive restraint, multiple autos, defensive driving training, safe vehicle, good student, and anti-theft.
- GEICO may offer discounts for multi-policy, military active duty, five-year accident-free, multi-vehicle, and air bags.
- SAFECO may include discounts for multi-car, anti-theft, teen safe driver, accident prevention training, homeowner, anti-lock brakes, and teen safety rewards.
- Farmers Insurance includes discounts for business and professional, bundle discounts, alternative fuel, homeowner, early shopping, and electronic funds transfer.
- AAA may have discounts that include multi-car, multi-policy, education and occupation, anti-theft, AAA membership discount, and good student.
- USAA offers discounts for new vehicle, military installation, multi-policy, multi-vehicle, annual mileage, safe driver, and family discount.
The chart below shows the comparison of auto insurance costs with and without discounts applied to the policy rates. The rates are based on a female driver, no accidents or driving violations, Minnesota state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, passive restraint, vehicle safety, paid-in-full, continuous coverage, and paperless filing discounts applied. When drivers take advantage of discounts, theaverage amount saved on auto insurance for a school permit is 28% or $510.
How careless driving impacts Minneapolis auto insurance rates
The recommended way to obtain the best auto insurance prices in Minneapolis for a learners permit is to drive carefully and avoid accidents and violations. The example below highlights how speeding tickets and fender-benders can raise car insurance rates for different ages of insureds. The premium estimates are based on a married female driver, full coverage, $1,000 deductibles, and no policy discounts are applied.
The chart shows that the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,357. Add in one speeding ticket and the average cost increases to $1,588, an increase of $231 each year. Then include two accidents along with the one speeding ticket and the annual cost of auto insurance for a school permit jumps again to an average of $3,752. That's an increase of $2,395, or $200 per month, just for not driving safely!
Comparing rates can save you money
Minneapolis, MN auto insurance rates are impacted by many factors which can significantly increase or decrease the cost of coverage. Improving your credit rating, buying a home instead of renting, or having an accident may prompt premium changes that can now make some companies cheaper than before.
Not only that, but auto insurance companies modify rates without warning to ensure their profitability. An unexpected high level of claims can result in price increases, while profitable underwriting can cause cheaper Minneapolis car insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Minneapolis, MN for a 30-year-old male driver with a clean driving record, no accidents, and excellent credit. Based on his personal risk profile, Travelers might quote the most affordable car insurance rates in Minneapolis at $886 each year. This is $535 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 cheapest Minneapolis, MN auto insurance companies.
The example below compares rates after we give the driver from the first set of rates a chargeable claim, a lower credit rating, and a traffic citation. Because every insurance company uses their own calculation to set premium rates, analyzing rates most likely will result in a significantly different list of the cheapest companies as shown below.
Farm Bureau Mutual now has the cheapest insurance rate in Minneapolis, MN with USAA, Allied, Travelers, and State Farm also being competitive. This shows why Minnesota drivers need to spend some time comparing rates to get the lowest car insurance rates for a school permit. Prices are made up of many risk factors and change frequently, so the cheapest option the last time you compared rates may now be one of the higher cost companies.
If you aren't sure which coverage to buy and prefer to get help from a professional when shopping around for cheaper insurance for a learners permit, the agencies below can probably help you make a decision which insurance coverage you need. To find a Minneapolis insurance agent using an interactive map, click the button at the bottom.
- RC4 Insurance Agency, LLC
7220 Metro Blvd #150 - Minneapolis, MN 55439 - (952) 896-9542
- American Family Insurance - Katie Bard
5459 Nicollet Ave - Minneapolis, MN 55419 - (612) 345-7900
- Kim Nybo - State Farm Insurance Agent
2724 University Ave SE - Minneapolis, MN 55414 - (612) 767-7775
- Kelly Mulligan Allstate Insurance Agency
80 8th St S - Minneapolis, MN 55402 - (612) 713-9253