It’s hard to fathom, but the vast majority of consumers have purchased from the same company for at least four years, and nearly the majority have never compared quotes from other companies. The average driver in Minnesota could cut their rates by about $1,000 a year, but they just don’t understand how much savings they would realize if they switched.
If you want to save the most money, the best way to get more affordable car insurance rates is to compare quotes annually from different companies who provide car insurance in Minneapolis. Drivers can shop around by completing these steps.
First, gain an understanding of the coverage provided by your policy and the things you can control to prevent high rates. Many rating factors that cause rate increases such as inattentive driving and an unfavorable credit rating can be remedied by making lifestyle changes or driving safer.
Second, quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give rate quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide price quotes for a wide range of companies.
Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you can save money and decide to switch, ensure there is no coverage lapse between policies.
Fourth, provide written notification to your current company of your intention to cancel your current coverage and submit the required down payment along with the signed application to the new company. Once the paperwork is finalized, put the certificate of insurance above your visor, in the console, or in the glove compartment.
One important bit of advice is to compare identical coverages on every quote and and to get price quotes from as many companies as feasibly possible. Doing this enables the most accurate price comparison and a complete rate analysis.
Affordable Chrysler insurance prices in Minneapolis
The car insurance companies shown below can provide comparison quotes in Minnesota. If multiple companies are listed, it’s highly recommended you visit several of them in order to find the lowest rates.
How to Lower Your Insurance Rates
The best way to find cheaper car insurance is to take a look at the different types of things that aid in calculating the price you pay for car insurance. When you understand what determines base rates, this enables you to make decisions that could help you find big savings. Many different elements are considered when you quote your car insurance policy. Some factors are common sense such as traffic violations, but other criteria are not quite as obvious like your vehicle usage or your financial responsibility.
Shown below are some of the things utilized by car insurance companies to help set your prices.
Better premiums with anti-theft devices – Choosing a vehicle that has a built-in theft deterrent system can help lower your rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent your vehicle from being stolen.
Increase comp and collision deductibles and save – Insurance for physical damage, termed comprehensive and collision coverage on your policy, protects your Chrysler from damage. Some examples of claims that would be covered would be a dented fender, damage from fire, and having your car stolen. The deductibles you choose tell how much you are required to spend out-of-pocket before a claim is paid by your company. The more of the claim you have to pay, the better rate you will receive.
Poor driving means higher premiums – Getting just one speeding ticket or other violation can bump up the cost to the point where it’s not affordable. Attentive drivers receive lower rates as compared to those with violations. Drivers who have received multiple citations like DUI or reckless driving may face state-mandated requirements to submit a SR-22 form with their state’s licensing department in order to keep their license.
Cheaper car insurance rates for prior coverage – Having a gap between insurance policy dates will be a fast way to increase your car insurance rates. And not only will your rates increase, getting caught without coverage may earn you a fine, jail time, or a revoked license. You may then be required to submit proof of financial responsibility or a SR-22 with the Minnesota department of motor vehicles.
Extra policy coverages can add up – Insurance companies have many optional add-on coverages that sound like a good idea at the time if you don’t pay attention. Coverages for personal injury protection, accident forgiveness, and term life insurance may be costing you every month. These coverages may sound good when you first buy your policy, but now you might not need them so consider taking them off your policy.
Younger driver insurance costs – Older, more experienced drivers tend to be more responsible, file fewer claims, and usually have better credit. Inexperience drivers are proven to get distracted easily in a vehicle so they pay higher car insurance rates.
Married drivers pay lower rates – Walking down the aisle can actually save you money compared to being single. Having a significant other may mean you are less irresponsible and it’s proven that married drivers get in fewer accidents.
Insurance loss statistics a Chrysler 200 – Insurance companies study historical loss data to help determine the rate you pay. Vehicles that are shown to have higher prevalence or dollar amount of losses will be charged more to insure.
The next table illustrates the compiled insurance loss statistics for Chrysler 200 vehicles. For each policy coverage, the claim probability for all vehicles, as an average, is represented as 100. Values that are below 100 indicate better than average losses, while percentage numbers above 100 point to more claims or a tendency for losses to be larger than average.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chrysler 200 2WD||117||113||116||174||189||152|
|Chrysler 200 4WD||117||112||108||127|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Lower rates by qualifying for discounts
Not too many consumers would say car insurance is affordable, but you might be missing out on some discounts that can help lower your rates. Many of these discounts will be applied automatically when you quote, but less common discounts must be inquired about prior to getting the savings.
- Pay Early and Save – By paying your policy upfront instead of paying each month you could save up to 5%.
- More Vehicles More Savings – Buying a policy with several vehicles on one policy can get a discount on all vehicles.
- Drivers Education – Cut your cost by having your teen driver participate in a local driver’s education class if it’s offered in school.
- Smart Student Discounts – A discount for being a good student can save 20 to 25%. You can use this discount normally up until you turn 25.
- Discount for Passive Restraints – Factory air bags or motorized seat belts may get savings up to 30%.
It’s important to note that many deductions do not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Just because it seems like all those discounts means the company will pay you, it just doesn’t work that way. But all discounts will lower your policy premium.
To see insurance companies that offer the discounts shown above in Minneapolis, click this link.
Do I need a local insurance agent?
Many people would rather visit with an insurance agent and there is nothing wrong with that. One of the best bonuses of comparing insurance prices online is the fact that you can find cheaper rates but also keep your business local. Buying from local agents is especially important in Minneapolis.
After completing this form (opens in new window), your information is instantly submitted to agents in your area who will give you bids for your car insurance coverage. You don’t have to do any legwork because quoted prices will be sent to the email address you provide. You’ll get the best rates AND an agent nearby. If you need to get a comparison quote from a specific company, you just need to go to their quote page and submit a quote form there.
How to choose the best auto insurance agent in Minneapolis
If you need to find a good insurance agency, it can be helpful to understand the types of insurance agents that differ in how they can insure your vehicles. Car insurance agents in Minneapolis may be either independent (non-exclusive) or exclusive.
Independent Car Insurance Agents (or Brokers)
Agents that choose to be independent are not restricted to one company and that enables them to quote your coverage with any number of different companies and find you the best rates. If you want to switch companies, your policy is moved internally and that require little work on your part. If you are comparing rate quotes, you will want to get several quotes from multiple independent agents so that you can do a thorough price comparison. Many write coverage with companies you’ve never heard of which may provide better rates.
Listed below is a list of independent agencies in Minneapolis that can give you free rate quotes.
- Minneapolis Insurance Specialists Team
333 N Washington Ave – Minneapolis, MN 55401 – (612) 460-7796 – View Map
- Insurance Advantage Agency LLC
7600 Parklawn Ave #350 – Minneapolis, MN 55435 – (952) 746-5770 – View Map
- Abdullahi Ahmed Insurance Agency
1113 E Franklin Ave # 104 – Minneapolis, MN 55404 – (612) 432-9142 – View Map
Agents in the exclusive channel can usually just insure with one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. They usually cannot compare other company’s rates so if the price isn’t competitive there isn’t much they can do. They are usually well trained on what they offer which helps them compete with independent agents. Drivers often buy from the same agent for years primarily because of the brand and strong financial ratings.
Shown below is a list of exclusive insurance agents in Minneapolis willing to provide price quote information.
- Nathan Dao – State Farm Insurance Agent
220 South 6th St #180 – Minneapolis, MN 55402 – (612) 338-6422 – View Map
- Allstate Insurance: Mohamud Isse
331 E Lake St – Minneapolis, MN 55408 – (612) 353-6667 – View Map
- Tom Kilton – State Farm Insurance Agent
3430 Nicollet Ave – Minneapolis, MN 55408 – (612) 827-3655 – View Map
Picking the best insurance agent shouldn’t rely on just the premium amount. Here are some questions you might want to ask.
- Will one accident increase rates?
- Is insurance their full-time profession?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Do they specialize in personal lines auto insurance in Minneapolis?
- Who are their largest clients?
After getting good feedback and an acceptable price quote, chances are good that you have found an insurance agent that is a good match to properly service your car insurance policy. Just understand that once you purchase a policy you can cancel a policy whenever you wish so don’t think you’re contractually obligated to a specific agent for any length of time.
Shop smart and save
Affordable Chrysler 200 insurance in Minneapolis can be purchased online as well as from insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some insurance providers may not have the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agencies.
You just read quite a bit of information on how to lower your Chrysler 200 insurance prices in Minneapolis. The key thing to remember is the more quotes you get, the better your comparison will be. You may even be surprised to find that the lowest prices are with a smaller regional carrier.
When you buy Minneapolis auto insurance online, you should never reduce needed coverages to save money. There have been many cases where someone sacrificed uninsured motorist or liability limits only to regret at claim time that they should have had better coverage. Your aim should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.
For more information, link through to the articles below:
- Top Signs Your Brakes are Giving Out (State Farm)
- Who Has Cheap Car Insurance for Electric Cars in Minneapolis? (FAQ)
- What Auto Insurance is Cheapest for Ride Shares in Minneapolis? (FAQ)
- How Much are Auto Insurance Rates for Nurses in Minneapolis? (FAQ)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Bodily Injury Coverage (Liberty Mutual)
- Cellphones, Texting and Driving (iihs.org)
- What are my Rights when Filing a Claim? (Insurance Information Institute)