Surprisingly, a recent survey revealed that almost 70% of drivers in Minnesota have stayed with the same insurance company for more than four years, and almost 40% of drivers have never taken the time to shop around. With the average premium in the United States being $1,847, drivers could save themselves approximately $859 a year just by comparing rates, but most undervalue the rate savings if they switched to a more affordable policy.
The most effective way to save money on auto insurance rates is to regularly compare price quotes from providers who can sell car insurance in Minneapolis. You can compare rates by following these steps.
Step 1: Get an understanding of how insurance companies determine prices and the factors you can control to lower rates. Many policy risk factors that result in higher rates such as speeding and an imperfect credit rating can be remedied by improving your driving habits or financial responsibility. Read the full article for ideas to prevent rate hikes and find discounts that may have been missed.
Step 2: Obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive or State Farm, while independent agencies can quote rates for many different companies. Select a company
Step 3: Compare the new rates to your current policy premium to see if a cheaper rate is available in Minneapolis. If you find a lower rate and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Tell your current company to cancel your current auto insurance policy. Submit the signed application along with the required initial payment to the new company. Immediately upon receiving it, place your new certificate of insurance in an easily accessible location.
The key thing to know about shopping around is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on each quote and and to get price estimates from as many different companies as possible. This helps ensure a level playing field and and a good selection of different prices.
Buying affordable protection in Minneapolis is not as time-consuming as you think. If you have a policy now or just want cheaper coverage, you can follow these tips to shop for the lowest rates without having to cut coverage. Comparison shoppers just need to learn the most efficient way to find the lowest price from many different companies.
Auto insurance providers offering cheap rates in Minnesota
The companies in the list below can provide price comparisons in Minnesota. If multiple companies are listed, we recommend you visit several of them to get a more complete price comparison.
Discounts mean cheaper rates for Mercury Montego insurance in Minneapolis
Companies don’t always list all available discounts very clearly, so the list below contains both the well known and also the more inconspicuous credits available to bring down your rates.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to wear their seat belts may be able to save a few bucks off the personal injury premium cost.
- Anti-theft System – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and that can save you a little bit as well.
- Save with a New Car – Buying insurance on a new vehicle can get you a discount compared to insuring an older model.
- Life Insurance Discount – Larger insurance carriers have a break if you buy auto and life insurance together.
- Pay Upfront and Save – By paying your policy upfront rather than paying in monthly installments you can avoid monthly service charges.
- Good Student – This discount can get you a discount of up to 25%. The good student discount can last until age 25.
As is typical with insurance, most of the big mark downs will not be given to all coverage premiums. Some only reduce the cost of specific coverages such as collision or personal injury protection. So when the math indicates all the discounts add up to a free policy, it just doesn’t work that way.
Popular insurance companies and a selection of discounts can be found below.
- Progressive offers discounts for multi-policy, multi-vehicle, homeowner, continuous coverage, online quote discount, and good student.
- SAFECO may include discounts for accident prevention training, homeowner, teen safe driver, anti-lock brakes, teen safety rewards, anti-theft, and multi-car.
- American Family includes discounts for Steer into Savings, bundled insurance, good driver, air bags, multi-vehicle, and defensive driver.
- MetLife discounts include good driver, multi-policy, defensive driver, good student, and claim-free.
- GEICO has savings for multi-vehicle, membership and employees, driver training, multi-policy, defensive driver, good student, and five-year accident-free.
- The Hartford has discounts for anti-theft, bundle, driver training, good student, air bag, and vehicle fuel type.
If you are trying to find affordable Mercury Montego insurance quotes, ask each company which discounts can lower your rates. Depending on the company, some discounts may not apply to policies in your area. To choose insurance companies that provide some of the discounts listed above in Minneapolis, follow this link.
Compare rate quotes but buy from a neighborhood Minneapolis auto insurance agent
Certain consumers prefer to sit down with an agent and that can be a great decision Good insurance agents can help determine the best coverages and help file insurance claims. One of the benefits of comparing rate quotes online is you may find the lowest rates but still work with a licensed agent. Putting coverage with local agents is still important in Minneapolis.
By using this simple form, your coverage information is instantly submitted to local insurance agents in Minneapolis that can provide free Minneapolis car insurance quotes to get your business. There is no reason to visit any agencies because quoted prices will be sent directly to your email. In the event you want to get a rate quote from one company in particular, don’t hesitate to navigate to their website and give them your coverage information.
The following are agents in Minneapolis who can help you get price quotes for Mercury Montego insurance in Minneapolis.
Finding the right insurance company requires you to look at more than just a cheap price quote. Agents should be asked these questions:
- Are there any discounts that you might be missing?
- Do they specialize in personal lines auto insurance in Minneapolis?
- How is replacement cost determined on your vehicle?
- Will high miles depreciate repair valuations?
- Do they offer rental car reimbursement?
After receiving positive feedback to all your questions as well as low cost Mercury Montego insurance quotes, you’ve probably found an insurer that meets the requirements to adequately provide auto insurance. Just understand that consumers can terminate your policy for any reason so don’t think that you are permanently stuck with the auto insurance policy for the full policy term.
Car insurance coverage considerations
Having a good grasp of your policy aids in choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on most car insurance policies.
Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for bills for things like hospital visits, doctor visits and dental work. The coverages can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay
Comprehensive coverage – Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things like a broken windshield, falling objects, damage from a tornado or hurricane, damage from getting keyed and vandalism. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Coverage for liability – This coverage will cover damage that occurs to other’s property or people by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 30/60/10 which means a $30,000 limit per person for injuries, $60,000 for the entire accident, and property damage coverage for $10,000. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage pays for claims like structural damage, legal defense fees, medical services and court costs. How much liability should you purchase? That is a personal decision, but buy higher limits if possible. Minnesota state minimum liability requirements are 30/60/10 but you should consider buying better liability coverage.
The next chart demonstrates why buying the state minimum limits may not be high enough to adequately cover claims.
Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as damage to your Mercury Montego.
Because many people only carry the minimum required liability limits (Minnesota limits are 30/60/10), their limits can quickly be used up. So UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Collision – This coverage covers damage to your Montego caused by collision with an object or car. A deductible applies then your collision coverage will kick in.
Collision coverage pays for things such as driving through your garage door, crashing into a building, backing into a parked car, hitting a parking meter and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also increase the deductible on your Montego to get cheaper collision coverage.
The best insurance company isn’t always the cheapest
When you buy Minneapolis car insurance online, it’s very important that you do not buy lower coverage limits just to save a few bucks. In many cases, consumers will sacrifice comprehensive coverage or liability limits only to regret at claim time that it was a big mistake. Your goal is to get the best coverage possible at a price you can afford while still protecting your assets.
We just presented many tips how you can compare Mercury Montego insurance premium rates in Minneapolis. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the best premium rates are with a company that doesn’t do a lot of advertising. Regional companies often have lower prices on specific markets than their larger competitors like GEICO and State Farm.
- Driving in Bad Weather (Insurance Information Institute)
- How Much is Auto Insurance for Drivers Under 25 in Minneapolis? (FAQ)
- How Much is Auto Insurance for a Toyota Tacoma in Minneapolis? (FAQ)
- What Insurance is Cheapest for Single Moms in Minneapolis? (FAQ)
- Who Has Affordable Car Insurance Quotes for Low Income Drivers in Minneapolis? (FAQ)
- Bodily Injury Coverage (Liberty Mutual)
- Cellphones, Texting and Driving (iihs.org)
- Keeping Children Safe in Crashes Video (iihs.org)