The make and model of vehicle requiring coverage is a large factor that determines if you can find affordable auto insurance for 17 year olds. Vehicles with limited speed and performance, excellent safety ratings, or a track record of few liability claims will cost substantially less to insure than higher performance models.
The table below showcases auto insurance prices for a selection of the most budget-friendly automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$5,496|
|Honda CR-V LX 4WD||$5,502|
|Ford Escape Limited 2WD||$5,554|
|Toyota RAV4 Limited 4WD||$6,520|
|Chevrolet Equinox LS AWD||$6,527|
|GMC Sierra SLE Crew Cab 2WD||$6,520|
|Dodge Grand Caravan Crew||$6,578|
|Ford F-150 SVT Raptor Super Cab 4WD||$6,586|
|Toyota Tacoma Double Cab 4WD||$6,578|
|Ford Explorer Limited 4WD||$6,584|
|Chevrolet Malibu LT||$6,578|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$6,759|
|Hyundai Elantra Blue 4-Dr Sedan||$6,822|
|Honda Civic VP 4-Dr Sedan||$6,829|
|Toyota Camry XLE||$6,880|
|Nissan Altima 2.5 S 4-Dr Sedan||$6,888|
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Above prices assume single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in vehicle location which can change prices considerably.
Looking at the data, we can conclude that models like the Honda Accord, Honda CR-V, Ford Escape, and Toyota Prius are most likely going to be a few of the most budget-friendly vehicles to insure for teen drivers. The price for an auto insurance policy will be more costly because there is more liability risk for 17 year olds, but in general those models will tend to have the cheapest auto insurance rates compared to other types of vehicles.
Figuring out which company offers the most affordable insurance rates for 17 year olds requires a bit more work in order to find the best price. Every insurance provider has a different process for setting rates, so let’s take a look at the most affordable insurance companies in Minnesota.
It’s important to know that Minneapolis insurance rates are determined by lots of factors that can increase the price you have to pay. Getting older, getting divorced, or getting a speeding ticket can trigger price changes resulting in some companies being more affordable than others.
Best Cheap Insurance Rates for Teens
|Rank||Company||Cost Per Year|
|3||Farm Bureau Mutual||$837|
|6||West Bend Mutual||$981|
|13||Auto Club Group||$1,380|
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Travelers quotes some of the lowest car insurance rates in Minneapolis at around $661 per year. USAA, Farm Bureau Mutual, Western National, and The Hartford would also be considered some of the cheaper Minneapolis, MN auto insurance companies.
In this example, if you are insured with Western National and switched to USAA, you could realize yearly savings of in the vicinity of $121. Customers with The Hartford might save as much as $147 a year, and West Bend Mutual insureds might realize rate reductions of up to $174 a year.
Understand that those premiums are averages for all types of insureds and vehicles and do not factor in a specific zip code for 17 year olds. So the insurer that fits your situation best may not even be in the top 24 companies in the list above. That’s why you need to get rate quotes using your own driver information and specific vehicle type.
For teen drivers, one of the big components that determine the annual cost of car insurance is where you live. More densely populated places are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The illustration below ranks the priciest cities in Minnesota for 17 year olds to purchase auto insurance in. Minneapolis is ranked #1 with a yearly premium of $2,079 on average, which is around $173 per month.
|Rank||City||Premium Per Year|
|12||Saint Louis Park||$1,720|
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Price information shown is approximated as the specific geographic location can influence premium rates considerably.
Picking a high-quality company is difficult considering how many companies there are to choose from in Minneapolis. The company rank data listed below may help you select which auto insurance companies to look at comparing rates with. The ratings below only include companies with a nationwide focus, so companies that focus mainly on Minnesota business will not be included in the list.
Top 10 Large Auto Insurance Companies in Minneapolis Ranked by Value
- AAA Insurance
- Liberty Mutual
- State Farm
- Safeco Insurance
- 21st Century
Top 10 Large Auto Insurance Companies in Minneapolis Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Liberty Mutual
- The Hartford
- Farmers Insurance
How to get discounts on Minneapolis insurance
Insurance providers that provide coverage for 17 year olds may provide rate discounts that could reduce prices by as much as 35% if you qualify for them. The best insurance companies and some of the discounts can be read below.
- 21st Century has discounts for homeowners, defensive driver, anti-lock brakes, air bags, and 55 and older.
- Progressive has savings for multi-vehicle, homeowner, multi-policy, continuous coverage, online quote discount, online signing, and good student.
- State Farm includes discounts for safe vehicle, Steer Clear safe driver discount, multiple autos, passive restraint, anti-theft, driver’s education, and student away at school.
- Nationwide may include discounts for multi-policy, accident-free, business or organization, easy pay, good student, and defensive driving.
- Esurance policyholders can earn discounts including DriveSense, emergency road assistance, paid-in-full, homeowner, and online shopper.
- The Hartford offers discounts including vehicle fuel type, anti-theft, air bag, driver training, good student, and defensive driver.
The information below compares car insurance rates with and without policy discounts. The premiums are based on a female driver, no claims or driving citations, Minnesota state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with good student, passive restraint, paperless filing, continuous coverage, paid-in-full, and anti-theft discounts applied. When taking advantage of discounts, the average amount saved each year on insurance for 17 year olds is 28% or $661.
Why you should be comparing rates
Minneapolis, MN insurance rates are impacted by many things that will increase or decrease the price you pay. Simply having another birthday, getting married, or getting caught speeding may prompt premium changes resulting in some companies being more affordable than before.
In addition to those changes, insurers amend premium rates multiple times each year to help ensure profitability. Higher than normal claims can result in rate hikes, while less frequent claims can produce cheaper Minneapolis car insurance rates.
The data below shows the company with the cheapest car insurance in Minneapolis, MN for a 30-year-old male driver with no prior claims, no tickets, and a good credit history. If we estimate rates based on his current rating profile, Travelers might quote the most affordable car insurance rates in Minneapolis at $869 per year. This is $552 less than the average policy premium paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and West Bend Mutual round out the rest of the best Minneapolis, MN auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident surcharge, less-than-perfect credit, and a stop sign violation. Because each insurer has a unique approach to establish rates, getting updated rate quotes most likely will result in a different list of the cheapest companies as shown below.
USAA now has the cheapest price in Minneapolis, MN with Farm Bureau Mutual, Allied, California Casualty, and Western National now rounding out the top five. This example proves why it is critical to do a thorough rate comparison to find cheap auto insurance rates for 17 year olds.
Prices are made up of many risk factors and change substantially, so the lowest-price company the last time you compared rates may now be wasting a lot of money.