Finding cheaper insurance for a Lexus GS F in Minnesota can turn out to be difficult, but you can learn the following methods and make it easy.
There are both good and bad ways to shop for auto insurance and we’ll show you the absolute fastest way to quote coverages on a Lexus and obtain the lowest price either online or from Minneapolis insurance agents.
If you are already insured or want to find a cheaper company, you can use these techniques to lower your rates while maximizing coverage. Getting quotes for the cheapest policy in Minneapolis is actually quite simple. Comparison shoppers only need an understanding of the proper methods to compare rates from many companies at once.
Check for these eight premium slashing discounts
Car insurance companies don’t always advertise all available discounts in a way that’s easy to find, so the list below gives a summary of some of the more common and the more hidden discounts you could be receiving when you buy Minneapolis car insurance online.
- No Claim Discounts – Claim-free drivers can earn big discounts when compared with insureds who have frequent claims or accidents.
- College Student – Older children who are enrolled in higher education away from home and do not have a car can be insured at a reduced rate.
- Discount for Passive Restraints – Factory air bags can qualify for discounts of up to 25% or more.
- Student Discounts – Excelling in school can save 20 to 25%. Most companies allow this discount well after school through age 25.
- Federal Government Employee – Being employed by or retired from a federal job may reduce rates when you quote Minneapolis car insurance depending on your auto insurance provider.
- Renewal Discounts – Some companies reward drivers for buying a policy prior to your current GS F insurance policy expiration. It could save around 10% when you buy Minneapolis car insurance online.
- Discounts for Safe Drivers – Safe drivers could pay up to 40% less than less cautious drivers.
- Driving Data Discount – Policyholders that allow driving data collection to track driving manner through the use of a telematics system such as Progressive’s Snapshot and State Farm’s In-Drive could see a rate decrease if they are good drivers.
Don’t be shocked that most discounts do not apply to the whole policy. Some only apply to individual premiums such as comp or med pay. Just because it seems like all those discounts means the company will pay you, insurance companies wouldn’t stay in business. But any discount will definitely lower the amount you have to pay.
The best auto insurance companies and a selection of discounts are detailed below.
- The Hartford includes discounts for bundle, air bag, vehicle fuel type, anti-theft, driver training, and good student.
- American Family has discounts for good student, accident-free, defensive driver, multi-vehicle, mySafetyValet, and Steer into Savings.
- Progressive offers discounts for good student, continuous coverage, online signing, homeowner, multi-vehicle, online quote discount, and multi-policy.
- Travelers offers discounts including multi-car, good student, student away at school, save driver, multi-policy, and continuous insurance.
- Farmers Insurance may offer discounts for switch companies, alternative fuel, teen driver, mature driver, and homeowner.
- USAA may have discounts that include multi-vehicle, family discount, military installation, good student, defensive driver, multi-policy, and driver training.
- Liberty Mutual may include discounts for newly retired, exclusive group savings, hybrid vehicle, safety features, and newly married.
If you need lower rates, check with each company or agent the best way to save money. Some of the discounts discussed earlier might not be offered in every state.
Finding cheaper Minneapolis insurance rates can be quick and easy. Consumers just need to spend a few minutes on the computer comparing rate quotes provided by online insurance companies.
The companies shown below are ready to provide price quotes in Minneapolis, MN. In order to find the best cheap auto insurance in Minneapolis, we recommend you visit two to three different companies to find the most affordable auto insurance rates.
What is the best auto insurance coverage?
When it comes to choosing a policy for your vehicles, there really isn’t a “best” method to buy coverage. Coverage needs to be tailored to your specific needs and your auto insurance should unique, too. These are some specific questions could help you determine whether you would benefit from professional advice.
- If I use my vehicle for business use is it covered?
- Do I pay less if my vehicle is kept in my garage?
- What if an uninsured driver hits me?
- What does medical payments coverage do?
- What is roadside assistance coverage?
- Do I need PIP (personal injury protection) coverage in Minnesota?
- How much will a speeding ticket raise my rates?
If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.
When to talk to an insurance agent
Many people just prefer to talk to a local agent and that is a smart decision Professional insurance agents are very good at helping people manage risk and will help you if you have claims. An additional benefit of comparing rates online is that you can obtain lower premium rates and still choose a local agent. Supporting neighborhood agents is especially important in Minneapolis.
For easy comparison, once you complete this simple form, your insurance coverage information is immediately sent to companies in Minneapolis who want to provide quotes for your insurance coverage. You won’t even need to search for any insurance agencies since price quotes are sent to your email. If for some reason you want to get a comparison quote from a specific insurance provider, just find their quoting web page and complete a quote there.
What type of Minneapolis car insurance agent is right for you?
If you are searching for a local agent, you must know there are a couple different types of agencies that differ in how they can insure your vehicles. Insurance agencies can either be exclusive or independent agents depending on their company appointments. Either one can do a good job, but it’s good to learn how they are different since it could factor into the kind of agent you use.
Independent Insurance Agents
Agents that choose to be independent are not required to write business for one company so they can quote policies through many companies and get the cheapest rates. If premiums increase, they simply switch companies in-house and you don’t have to find a new agent.
When comparing rates, we recommend you get insurance quotes from a few independent agents to have the most options to choose from. Most also have access to lesser-known insurance companies that may have much lower rates than larger companies.
Featured below is a short list of independent agencies in Minneapolis that can give you price quotes.
- Dedicated Insurance
2736 Lyndale Ave S – Minneapolis, MN 55408 – (612) 872-4004 – View Map
- Glover Insurance Agency
2520 NE Lowry Ave – Minneapolis, MN 55411 – (612) 284-3227 – View Map
- Patrick J. Thomas Agency
121 S 8th St #980 – Minneapolis, MN 55402 – (612) 339-5522 – View Map
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company and examples are State Farm, AAA, and Liberty Mutual. Exclusive agents cannot provide rate quotes from other companies so they have no alternatives for high prices. Exclusive agents receive a lot of sales training on what they offer which aids in selling service over price. Some insured continue to use the same agent mostly because of loyalty to the company rather than low price.
Below are exclusive insurance agencies in Minneapolis that are able to give comparison quotes.
- Allstate Insurance: Lois A. Castaneda
127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 – View Map
- State Farm: Seth Bork Insurance Agency Incorporated
8347 University Ave NE D – Minneapolis, MN 55432 – (763) 780-2222 – View Map
- Kim Nybo – State Farm Insurance Agent
2724 University Ave SE – Minneapolis, MN 55414 – (612) 767-7775 – View Map
Finding a good insurance agency should include more criteria than just the price. Any agent in Minneapolis should be forthright in answering these questions:
- Who are their largest clients?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Will they take your side in the event of a claim?
- In the event of vehicle damage, can you pick the collision repair facility?
- Are they full-time agents?
- If independent agents, which companies do they recommend?
Why you need vehicle insurance in Minnesota
Even though it’s not necessarily cheap to insure a Lexus in Minneapolis, paying for auto insurance is most likely required but also gives you several important benefits.
- The majority of states have minimum liability requirements which means state laws require a specific level of liability protection in order to license the vehicle. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your Lexus has a loan, most banks will require that you buy insurance to guarantee loan repayment. If coverage lapses or is canceled, the bank may buy a policy for your Lexus at a more expensive rate and force you to pay a much higher amount than you were paying before.
- Auto insurance protects both your Lexus GS F and your personal assets. Insurance will also pay for all forms of medical expenses incurred in an accident. As part of your policy, liability insurance also covers legal expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance definitely exceed the cost, especially with large liability claims. Today the average American driver is overpaying more than $750 every year so we recommend shopping around once a year at a minimum to help ensure money is not being wasted.
Auto insurance coverages 101
Understanding the coverages of your auto insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. These are typical coverages found on most auto insurance policies.
Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for ambulance fees, EMT expenses and doctor visits. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage
Comprehensive coverages – Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like vandalism, hitting a bird, falling objects and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Collision coverage – Collision coverage pays for damage to your GS F from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims like hitting a parking meter, hitting a mailbox, sideswiping another vehicle, damaging your car on a curb and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. Another option is to increase the deductible on your GS F in order to get cheaper collision rates.
Liability car insurance – Liability insurance will cover damages or injuries you inflict on other people or property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 30/60/10 that means you have a $30,000 limit per person for injuries, $60,000 for the entire accident, and property damage coverage for $10,000. Alternatively, you may have a combined limit which provides one coverage limit without having the split limit caps.
Liability coverage protects against claims like structural damage, medical expenses, repair bills for other people’s vehicles, medical services and attorney fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford. Minnesota requires drivers to carry at least 30/60/10 but it’s recommended drivers buy more liability than the minimum.
The illustration below shows why minimum state limits may not be enough.
Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and damage to your Lexus GS F.
Due to the fact that many Minnesota drivers have only the minimum liability required by law (which is 30/60/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked. Most of the time the UM/UIM limits are set the same as your liability limits.
Cheap insurance is out there
When you buy Minneapolis car insurance online, do not reduce coverage to reduce premium. There have been many cases where someone dropped uninsured motorist or liability limits only to regret at claim time that the few dollars in savings costed them thousands. The aim is to buy a smart amount of coverage for the lowest price but still have enough coverage for asset protection.
We just covered a lot of information how to save on Lexus GS F insurance in Minneapolis. The most important thing to understand is the more quotes you get, the better your chances of lowering your premium rates. Consumers may even find the best price on insurance is with an unexpected company. Regional companies can often insure niche markets at a lower cost as compared to the big name companies such as Progressive and GEICO.
Steps to saving on Lexus GS F insurance in Minneapolis
The best way to get low-cost auto insurance rates in Minneapolis is to compare prices annually from insurance carriers who sell auto insurance in Minnesota. Rate comparisons can be done by following these guidelines.
- Read and learn about what is in your policy and the things you can control to keep rates low. Many rating criteria that result in higher rates such as accidents, traffic tickets, and your credit history can be eliminated by making minor changes in your lifestyle.
- Compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can quote rates for many different companies.
- Compare the price quotes to your existing rates and determine if there is any savings. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide proper notification to your current company to cancel your current coverage and submit a completed policy application and payment to the new insurer. As soon as you receive it, place the new proof of insurance paperwork in your vehicle’s glove compartment or console.
A good piece of advice is that you use the same liability limits and deductibles on every price quote and to quote with as many carriers as you can. This ensures an accurate price comparison and many rates to choose from.
To learn more, link through to the following helpful articles:
- Distracted Driving Statistics (Insurance Information Institute)
- Who Has Affordable Car Insurance Quotes for a Dodge Grand Caravan in Minneapolis? (FAQ)
- How Much are Auto Insurance Rates for Young Drivers in Minneapolis? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Chevrolet Equinox in Minneapolis? (FAQ)
- Auto Insurance 101 (About.com)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Safety Tips for Teen Drivers (Insurance Information Institute)