Who Has the Cheapest Car Insurance Quotes for Teenagers in Minneapolis?

The make and model of vehicle driven is probably the biggest factor when comparison shopping for affordable car insurance for teenagers. Vehicles with higher performance, a lack of modern safety features, or a track record of large liability claims will cost quite a bit more to insure than more economical and safe models. The next list estimates insurance costs for a selection of the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Minneapolis, MN
Vehicle Insured Estimated Cost for Full Coverage
Ford Escape XLT 2WD $5,591
Honda CR-V LX 4WD $5,601
Toyota Prius $6,054
Ford F-150 XLT Regular Cab 2WD $6,224
Ford Edge SE AWD $6,579
Toyota Tacoma 2WD $6,589
Ford Focus SE 4-Dr Sedan $6,579
Toyota RAV4 2WD $6,635
Chevrolet Equinox LT AWD $6,644
Dodge Grand Caravan Hero $6,635
Chevrolet Impala LT $6,642
GMC Sierra SLE Crew Cab 2WD $6,635
Volkswagen Jetta LE 4-Dr Sedan $6,641
Chevrolet Malibu Hybrid $6,635
Ford Explorer Limited AWD $6,688
Chevrolet Silverado LS Regular Cab 2WD $6,772
Jeep Wrangler Unlimited Sport 2WD 4-Dr $6,928
Honda Civic VP 4-Dr Sedan $6,931
Toyota Camry XLE $6,987
Hyundai Elantra SE 4-Dr Sedan $6,992
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Data rating is based on single female 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. Price estimates do not factor in your specific Minneapolis, MN location which can alter prices considerably.

Based upon these rates, we can tell that cars like the Ford Escape, Honda CR-V, Toyota Prius, and Ford F-150 are some of the more affordable vehicles to insure for teen drivers. Auto insurance rates will be higher anyway because of the fact that there is more liability exposure for teenagers, but overall those specific models will most likely have the best rates compared to all other vehicles.

One of the many considerations that determine insurance cost is where you live. Areas with increased crime or more people likely pay more, whereas areas with lower crime rates and fewer weather claims have the enjoyment of a little cheaper coverage.

The information below lists the most expensive areas in Minnesota for teenagers to buy auto insurance in. Minneapolis ranks #3 with an annual premium of $1,997 for the average policyholder, which is about $166 monthly.

How much does car insurance cost in Minneapolis, MN?
Rank City Annual Premium
1 Saint Paul $2,049
2 Maplewood $2,045
3 Minneapolis $1,997
4 Bloomington $1,809
5 Coon Rapids $1,792
6 Edina $1,759
7 Woodbury $1,748
8 Brooklyn Park $1,744
9 Richfield $1,742
10 Duluth $1,741
11 Blaine $1,731
12 Plymouth $1,731
13 Eagan $1,729
14 Burnsville $1,726
15 Minnetonka $1,723
16 Saint Louis Park $1,720
17 Shakopee $1,710
18 Maple Grove $1,690
19 Apple Valley $1,680
20 Eden Prairie $1,655
21 Saint Cloud $1,652
22 Lakeville $1,649
23 Rochester $1,591
24 Moorhead $1,566
25 Mankato $1,519
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Table data uses estimated as specific Minneapolis zip code can lower or raise coverage prices significantly.

Cost difference between full coverage and liability

Saving on insurance is important to the majority of vehicle owners, and one of the quickest ways to buy cheaper insurance for teenagers is to only pay for liability coverage. The diagram below visualizes the comparison of auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no accidents or driving violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.

On average, physical damage coverage on your policy costs an extra $2,227 per year over and above liability coverage. That is a big expense that brings up the question if buying full coverage is worth the money. There isn’t a written rule to stop buying physical damage coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

Discounts on Minneapolis car insurance

Insurance for teen drivers in Minneapolis, MNCar insurance companies that provide coverage for teenagers may additionally offer price discounts that could potentially reduce rates by 30% or more if you qualify for them. Large insurance companies and some of the premium reductions they offer include:

The diagram below compares auto insurance costs with and without discounts applied to the policy rates. Data assumes a male driver, a clean driving record, no at-fault accidents, Minnesota state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.

The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with good student, anti-theft, continuous coverage, passive restraint, paid-in-full, and vehicle safety discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for teenagers is 28% or $640.

Picking a highly-rated insurance provider can be challenging considering how many different insurance companies sell coverage in Minneapolis. The ranking data shown below may help you choose which insurers to look at when comparing rate quotes.

The rankings below include companies that insure vehicles nationwide, so smaller companies that only insure vehicles in Minnesota are not included in these rankings. To view rates from these top insurers and more, click here.

Top 10 Major Auto Insurance Providers in Minneapolis Ranked by A.M. Best Rating

  1. USAA – A++
  2. Travelers – A++
  3. State Farm – A++
  4. GEICO – A++
  5. Nationwide – A+
  6. Esurance – A+
  7. The Hartford – A+
  8. Progressive – A+
  9. Allstate – A+
  10. The General – A-

Top 10 Major Auto Insurance Providers in Minneapolis Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Liberty Mutual
  5. State Farm
  6. Allstate
  7. Safeco Insurance
  8. Travelers
  9. 21st Century
  10. Nationwide

Your low-price policy may be costing you money

Minneapolis, MN insurance rates are influenced by many factors that may substantially change the cost of your policy. Improving your credit rating, moving to a different location, or getting a few speeding tickets can cause premium changes that may make certain companies more affordable than competitors.

And not only may your rating factors change, but car insurance companies file new Minnesota auto insurance rates as needed in order to protect their financial rating. Higher than normal claims can result in higher prices, while a profitable period may result in cheaper Minneapolis car insurance rates.

For instance, the chart below shows rates for the cheapest car insurance in Minneapolis, MN for a 35-year-old male driver with a clear driving record, no claims, and great credit. 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 premium paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, The Hartford, and Western National are also on the list of the top five cheapest Minneapolis, MN auto insurance companies.

In this example, we will give the driver in the first chart a claim, poor credit, and a speeding ticket. Since every car insurance company has a different process to set premium rates, analyzing rates may now show a new list of the cheapest companies as shown below.

USAA now has the best price on car insurance in Minneapolis, MN with Farm Bureau Mutual, Allied, California Casualty, and Travelers now rounding out the top five. This example shows why it is so important to compare lots of rates to find the most economical auto insurance quotes for teenagers.

Insurance prices can be altered by many different factors and change dramatically, so the lowest-price company three years ago may now be one of the higher cost companies.