This would be a much shorter article if we could tell you the one auto insurance company that has the best auto insurance prices in Minnesota. Unfortunately, it’s just not that easy, as there are many unknown elements such as if you want full coverage, what coverage limits you want, whether you are female or male, and if you currently have coverage. We will attempt to cover the best ways to compare rates and will give you some help in finding cheaper rates.
The vehicle driven is a large factor when shopping around for the best cheap auto insurance for veterans. Vehicles with average performance, good safety features, or a positive history of liability claims will cost less to insure than fast, unsafe models.
The next table estimates insurance premiums for the most affordable vehicles to insure in Minnesota.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,511|
|Honda Odyssey LX||$1,664|
|Honda CR-V EX 4WD||$1,770|
|Jeep Grand Cherokee Laredo 2WD||$1,793|
|Chevrolet Equinox LT 2WD||$1,801|
|Ford F-150 SVT Raptor Super Cab 4WD||$1,826|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$1,921|
|Ford Explorer Eddie Bauer 2WD||$1,944|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,955|
|Toyota Tacoma 2WD||$2,013|
|Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD||$2,047|
|Honda Accord EX-L 2-Dr Coupe||$2,050|
|Toyota RAV4 Sport 4WD||$2,052|
|Volkswagen Jetta LE 4-Dr Sedan||$2,057|
|Chevrolet Malibu LT||$2,092|
|Dodge Grand Caravan Crew||$2,102|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$2,125|
|Hyundai Elantra GLS 4-Dr Sedan||$2,159|
|Nissan Altima 2.5 S 4-Dr Sedan||$2,164|
|Toyota Camry LE||$2,198|
|Honda Civic Hybrid 4-Dr Sedan||$2,203|
|Dodge Ram 2500 Mega Cab SLT 4WD||$2,212|
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Information does not factor in the specific area where the vehicle is garaged which can modify coverage prices significantly.
Based upon these rates, we can presume that makes and models like the Ford Escape, Honda Odyssey, Toyota Prius, Honda CR-V, and Jeep Grand Cherokee are going to be the cheaper vehicles to insure for veterans.
Finding dependable, affordable insurance is challenging, and figuring out which company has the lowest-priced insurance rates for veterans calls for even more shopping around. Each insurer has a proprietary method to set their prices, so first we will examine the most competitive insurance companies in Minneapolis, MN.
Compare Cheap Insurance Quotes for Vets
|Rank||Company||Cost Per Year|
|2||Farm Bureau Mutual||$805|
|6||West Bend Mutual||$981|
|14||Auto Club Group||$1,380|
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Travelers generally has some of the cheapest car insurance rates in Minneapolis at around $661 a year. This is $760 less than the average price paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and The Hartford would also be considered some of the more affordable Minneapolis, MN auto insurance companies.
As the example above demonstrates, if you currently buy coverage from Farm Bureau Mutual and switched to Travelers, you could see a yearly savings of in the vicinity of $144. Minnesota drivers with USAA might save as much as $146 a year, and Western National policyholders might see rate reductions of $240 a year.
Understand that those policy rates are averages for all types of insureds and vehicles and do not factor in a specific zip code for veterans. So the auto insurance company that can offer you the best rate may not even be in the top 24 companies in the list above. That emphasizes why you need to get rate quotes using your own individual information.
How violations and accidents impact rates
The easiest method to get affordable insurance prices in Minneapolis for veterans is to be a good driver and not get tickets or have accidents. The information below demonstrates how speeding tickets and accident claims influence insurance costs for each different age group. The premiums assume a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
In the previous chart, the average cost of car insurance in Minneapolis per year with no accidents and a clean driving record is $1,498. Get written up for one speeding ticket and the average cost jumps to $1,689, an increase of $191 each year. Now include two accidents along with the one speeding ticket and the annual cost of insurance for veterans goes up to an average of $3,398. That’s an increase of $1,900, or $158 per month, just for not driving safely!
Discount Minneapolis insurance
Car insurance companies that offer coverage for veterans may provide special discounts that could reduce prices by 40% or more if you meet the requirements. Popular insurance companies and a summarized list of policyholder discounts can be read below.
- 21st Century includes discounts for 55 and older, student driver, homeowners, anti-lock brakes, driver training, defensive driver, and automatic seat belts.
- Progressive may have discounts that include multi-vehicle, multi-policy, good student, continuous coverage, and online signing.
- State Farm policyholders can earn discounts including safe vehicle, accident-free, anti-theft, multiple policy, student away at school, good student, and defensive driving training.
- Nationwide has discounts for accident-free, multi-policy, good student, easy pay, defensive driving, Farm Bureau membership, and anti-theft.
- Esurance offers discounts for anti-lock brakes, DriveSense, online shopper, anti-theft, multi-policy, and multi-car.
- The Hartford offers discounts including good student, air bag, defensive driver, anti-theft, and driver training.
The illustration below visualizes the comparison of auto insurance rates with and without discounts applied to the premium. The information is based on a male driver, a clean driving record, no at-fault accidents, Minnesota state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with defensive driving course, marriage, multiple policy, homeowner, claim-free, and multiple vehicle discounts applied. When taking advantage of discounts, theamount saved on insurance for veterans is 28% or $676.
Can you find cheaper Minneapolis car insurance?
Minneapolis, MN insurance rates are influenced by many factors that control the price you have to pay. Improving your credit score, adding a teenager to your policy, or getting into an accident may generate price changes that can cause some rates to be more affordable than competitors.
And not only may your rating factors change, but insurers change premium rates as often as every quarter to adjust for unexpected claims or profits. Higher than usual claims may cause increased policy costs, while profitable underwriting may cause lower-cost Minneapolis car insurance rates.
For instance, the graph below shows a variety of companies that have the cheapest car insurance in Minneapolis, MN for a 40-year-old male driver with a good driving record, no prior claims, and solid credit. If we look at prices based on his current risk factors, Travelers might quote the best car insurance rates in Minneapolis at $922 per year. This is $499 less than the average rate paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and West Bend Mutual are the remainder of the most affordable Minneapolis, MN auto insurance companies.
In this next rate comparison, we will give the driver from above a claim or two, less-than-perfect credit, and a traffic citation. Due to the fact that every insurance company has a unique approach for filing rates in each state, comparing prices may result in a significantly different list of the cheapest companies as shown below.
USAA now has the lowest price on auto insurance in Minneapolis, MN with Allied, State Farm, Farm Bureau Mutual, and Travelers completing the list. This example proves why it is critical to take the time to shop around when trying to find the best auto insurance rates for veterans.
Prices are influenced by many things and change substantially, so the lowest-price company a year ago may now be priced much higher than other options.
How to find cheaper car insurance for veterans
It is possible to find better rates, and here are some penny-pinching solutions that can help you buy lower-cost coverage.
- On older vehicles, drop full coverage
- Choose a safer vehicle and pay lower rates
- Accidents can significantly increase rates
- Raise your physical damage coverage deductibles
- Avoid getting tickets or violations
- Good credit can mean cheaper rates
- Shop around once a year for cheaper rates
That last piece of advice is highly vital, as we hit on in the prior information. Insurance prices adjust frequently, so don’t be hesitant to switch carriers if a more affordable price is available. Having a favorite company is fine, but is isn’t recommended if that loyalty ends up costing thousands of dollars over the life of your policy. If you have a few minutes, now is a great time to shop around to find cheaper car insurance for veterans in Minneapolis.
If you wish to get some help when trying to find the best insurance rates for veterans, the professional agents shown below are a good start to answer your questions and help you decide which auto insurance coverages would be the best in your situation. To locate a Minneapolis car insurance agency using an interactive map, click the button link following the list.
State Farm Insurance: Karl Herman
3017 W 56th St – Minneapolis, MN 55410 – (612) 455-8844
Abbco Insurance Agency Co.
6227 University Ave NE – Minneapolis, MN 55632 – (763) 571-2880
Horizon Agency Inc
11000 W 78th St – Minneapolis, MN 55423 – (952) 944-2929