Trying to buy budget insurance is challenging, and finding out which company offers the lowest-priced insurance rates for state employees calls for even more work.
Every insurance provider has a proprietary method to determine rates, so we’ll go over the most affordable insurance companies in Minnesota.
Cheapest Insurance Rates in Minnesota
|Rank||Company||Cost Per Year|
|2||Farm Bureau Mutual||$813|
|6||West Bend Mutual||$972|
|14||Auto Club Group||$1,352|
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Travelers generally has some of the most affordable car insurance rates in Minneapolis at around $647 per year. This is $774 less than the average rate paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and The Hartford are also some of the more affordable Minneapolis, MN car insurance companies.
As shown in the table above, if you are insured with The Hartford and switched to Farm Bureau Mutual, you could realize an annual premium reduction of around $141. Customers with West Bend Mutual could save as much as $159 a year, and Allied policyholders might lower prices by up to $397 a year.
These premiums are averaged across all insureds and vehicles and do not factor in a vehicle location for state employees. So the auto insurance company that is most affordable for your situation may not even be in the top 24 companies in the list above. That is why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
For state workers, one of the largest things that determine the price you pay for insurance is where your residence is in Minneapolis. Areas with increased crime or more people are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims benefit from lower rates.
The following table lists the most expensive areas in Minnesota for state employees in which to buy car insurance. Minneapolis shows up at #2 with an annual rate of $2,018 for the average policy, which is around $168 per month.
|10||Saint Louis Park||$1,754|
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Annual rates are comparative as the specific area where the vehicle is garaged can influence prices greatly.
The vehicle model to be insured is probably the most important factor when trying to find cheaper insurance for state employees. Vehicles with high performance features, poor crash test ratings, or a history of substantial liability claims will cost substantially more to insure than more modest models.
The next table ranks insurance rates for a handful of the most economical vehicles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$1,423|
|Honda CR-V EX 2WD||$1,631|
|Ford Edge SEL AWD||$1,656|
|Chevrolet Equinox LT AWD||$1,688|
|Toyota RAV4 Limited 4WD||$1,693|
|Dodge Grand Caravan Hero||$1,688|
|Chevrolet Silverado LS Regular Cab 2WD||$1,697|
|Chevrolet Malibu Hybrid||$1,688|
|Ford Explorer Eddie Bauer AWD||$1,721|
|Honda Odyssey EX-L W/Navigation||$1,775|
|Hyundai Elantra SE 4-Dr Sedan||$1,782|
|Jeep Grand Cherokee Limited 2WD||$1,813|
|GMC Sierra SLE Crew Cab 2WD||$1,807|
|Dodge Ram Crew Cab SLT 2WD||$1,843|
|Jeep Wrangler Unlimited Rubicon 4WD 4-Dr||$1,867|
|Ford Focus SE 4-Dr Sedan||$1,894|
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rates do not factor in specific location which can decrease or increase insurance rates greatly.
Based on these rates, we can assume that vehicles like the Ford Escape, Honda CR-V, Ford Edge, and Chevrolet Equinox should be a few of the most affordable vehicles to insure for state workers.
Get discount Minneapolis insurance
Insurance providers that provide policies for state employees may also provide premium discounts that could potentially reduce rates by 30% or more if you are eligible for them. Large insurance companies and a partial list of their discounts are shown below.
- State Farm offers discounts for multiple autos, student away at school, passive restraint, good student, and anti-theft.
- Progressive offers discounts including homeowner, online signing, continuous coverage, good student, and online quote discount.
- Progressive may offer discounts for online quote discount, multi-vehicle, good student, homeowner, online signing, continuous coverage, and multi-policy.
- MetLife may have discounts that include good driver, good student, accident-free, multi-policy, claim-free, defensive driver
- Farm Bureau policyholders can earn discounts including multi-policy, safe driver, multi-vehicle, renewal discount, youthful driver, and 55 and retired.
- GEICO discounts include five-year accident-free, federal employee, anti-lock brakes, seat belt use, anti-theft, multi-vehicle, and daytime running lights.
- SAFECO includes discounts for teen safety rewards, drive less, accident prevention training, homeowner, safe driver, and anti-lock brakes.
The illustration below shows the comparison of auto insurance costs with and without policy discounts. The price estimates are based on a male driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with multiple policy, passive restraint, safe-driver, defensive driving course, multiple vehicle, and claim-free discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on insurance for state employees is 28% or $555.
Choosing a good quality auto insurance provider is difficult considering how many companies provide coverage in Minneapolis. The information displayed below may help you pick which companies you want to consider shopping your coverage with.
The ratings below include companies who write in the majority of U.S. states, so companies with more of a regional focus will not be included in the list. To get rate quotes from these and other competitive companies, click here.
Top 10 Large Auto Insurance Providers in Minneapolis Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Progressive – A+
- Allstate – A+
- The General – A-
Liability only or full coverage
Lowering the price of insurance is probably important to the majority of vehicle owners, and an effective way to buy cheap insurance for state employees is to only pay for liability coverage. The diagram below shows the difference between car insurance costs when comparing full coverage to liability only. The price estimates are based on no claims, a clean driving record, $100 deductibles, single status, and no discounts are factored in.
If we average the cost for all age groups, full coverage on your policy costs an additional $2,027 per year more than insuring for liability only. That may make you wonder if physical damage coverage is worth the money. There is no exact formula to delete physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.