It takes a little time, but the best way to get more affordable auto insurance rates is to start comparing rates regularly from companies who can sell car insurance in Minneapolis. Rate comparisons can be done by following these steps.
First, learn about car insurance and the steps you can take to prevent high rates. Many rating criteria that increase rates like accidents, traffic violations, and poor credit rating can be eliminated by being financially responsible and driving safely. This article gives more information to get affordable coverage and find more discounts that you may not know about.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like GEICO or Farmers Insurance, while independent agents can quote prices for a wide range of companies. Select a company
Third, compare the price quotes to your current policy to see if switching to a new carrier will save money. If you find a lower rate quote and switch companies, make sure coverage is continuous and does not lapse.
Fourth, tell your current agent or company to cancel your current policy. Submit the completed application along with a down payment to your new carrier. As soon as you receive it, store the certificate verifying proof of insurance in your glove compartment.
An important note is to use the same physical damage deductibles and liability limits on each quote and and to analyze all possible companies. Doing this guarantees an accurate price comparison and a thorough price selection.
Unbelievable but true, the vast majority of drivers have been with the same company for at least four years, and just short of a majority have never compared rates from other carriers. Most drivers in America could save up to $850 a year just by shopping around, but they feel it’s too difficult to go online and compare rates.
If you have insurance now or just want to reduce your rates, use these money-saving tips to shop for the lowest rates and still get good coverage. Locating the most cost-effective auto insurance policy in Minneapolis is really quite easy. Comparison shoppers only need an understanding of how to shop from multiple carriers.
Take policy discounts and save on Mini Cooper insurance in Minneapolis
Some companies don’t necessarily list all discounts in an easy-to-find place, so we break down a few of the more common and the more hidden credits available to you. If you don’t get every credit you deserve, you are not getting the best rate possible.
- Discounts for Government Workers – Being employed by or retired from a federal job can earn a discount up to 10% but check with your company.
- Minneapolis Homeowners Discount – Owning your own home or condo can save you money because it means you have a higher level of financial diligence.
- Driver Training Discounts – Taking a defensive driver class could cut 5% off your bill if your company offers it.
- Theft Deterrent – Cars and trucks equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
- Bundle and Save – When you combine your home and auto insurance and insure them both with the same insurance company they may give you a discount of up to 20% off your total Cooper insurance premium.
- Safety Restraint Discount – Requiring all passengers to fasten their seat belts can save a little off the personal injury premium cost.
- ABS Braking Discount – Cars that have anti-lock braking systems prevent accidents and qualify for as much as a 10% discount.
- Discount for Life Insurance – Not all companies offer life insurance, but some may give you a break if you buy some life insurance too.
- Driver Education Discount – It’s a good idea to have your young drivers enroll in driver’s education in school.
- Good Students Pay Less – Maintaining excellent grades may save as much as 25% on a Minneapolis auto insurance quote. Many companies even apply the discount to college students up to age 25.
As a footnote on discounts, most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like comp or med pay. So when the math indicates adding up those discounts means a free policy, it’s just not the way it works. Any qualifying discounts will reduce the cost of coverage.
The chart below shows the difference between Mini Cooper insurance prices with and without discounts applied to the rates. The premiums assume a male driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, safe-driver, marriage, multi-policy, and homeowner discounts applied.
Larger car insurance companies and the discounts they provide can be found below.
- Farm Bureau has savings for safe driver, 55 and retired, driver training, good student, renewal discount, multi-vehicle, and multi-policy.
- State Farm policyholders can earn discounts including anti-theft, multiple autos, student away at school, Steer Clear safe driver discount, and good student.
- Progressive may have discounts that include online quote discount, multi-policy, online signing, good student, continuous coverage, multi-vehicle, and homeowner.
- Allstate may offer discounts for FullPay discount, senior citizen, farm vehicle, new car, and economy car.
- Nationwide offers discounts for multi-policy, Farm Bureau membership, family plan, defensive driving, and easy pay.
- MetLife may include discounts for accident-free, defensive driver, good student, multi-policy, good driver, and claim-free.
If you need lower rates, check with all the companies to apply every possible discount. Some discounts might not apply in Minneapolis. If you would like to see a list of insurers that offer discounts in Minneapolis, follow this link.
The quickest way to compare car insurance rates for Mini Cooper insurance in Minneapolis utilizes the fact car insurance companies participate in a system to compare their rates. The one thing you need to do is provide information including what you do for a living, whether your vehicle is owned or leased, types of safety features, and whether or not you need a SR-22. Those rating factors is instantly provided to insurance companies and you receive quotes almost instantly.
To find the cheapest Mini Cooper insurance rates, click here and see if a lower rate is available in Minneapolis.
The auto insurance companies shown below have been selected to offer quotes in Minneapolis, MN. If you want cheap auto insurance in Minneapolis, we recommend you visit two to three different companies to get the lowest price.
Data for Mini Cooper insurance
The premium information displayed below covers estimates of insurance premium costs for Mini Cooper models. Learning more about how insurance prices are calculated can help guide drivers when making smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cooper 2-Dr Hatchback||$148||$298||$326||$20||$98||$890||$74|
|Cooper 2-Dr Convertible||$148||$298||$254||$14||$76||$790||$66|
|Cooper S 2-Dr Hatchback||$148||$352||$326||$20||$98||$944||$79|
|Cooper S 2-Dr Convertible||$168||$352||$254||$14||$76||$864||$72|
|Cooper John Cooper Works 2-Dr Hatchback||$168||$352||$326||$20||$98||$964||$80|
|Cooper John Cooper Works 2-Dr Convertible||$186||$406||$254||$14||$76||$936||$78|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Rate quotes do not factor in Minneapolis location which can modify coverage rates significantly.
Where to set your deductibles
One frequently asked question is the level to set your comp and collision deductibles. The premium rates below can help illustrate the rate difference between high and low coverage deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cooper 2-Dr Hatchback||$246||$414||$270||$16||$80||$1,051||$88|
|Cooper 2-Dr Convertible||$246||$414||$210||$12||$62||$969||$81|
|Cooper S 2-Dr Hatchback||$246||$486||$270||$16||$80||$1,123||$94|
|Cooper S 2-Dr Convertible||$276||$486||$210||$12||$62||$1,071||$89|
|Cooper John Cooper Works 2-Dr Hatchback||$276||$486||$270||$16||$80||$1,153||$96|
|Cooper John Cooper Works 2-Dr Convertible||$308||$560||$210||$12||$62||$1,177||$98|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cooper 2-Dr Hatchback||$152||$260||$270||$16||$80||$778||$65|
|Cooper 2-Dr Convertible||$152||$260||$210||$12||$62||$696||$58|
|Cooper S 2-Dr Hatchback||$152||$306||$270||$16||$80||$824||$69|
|Cooper S 2-Dr Convertible||$170||$306||$210||$12||$62||$760||$63|
|Cooper John Cooper Works 2-Dr Hatchback||$170||$306||$270||$16||$80||$842||$70|
|Cooper John Cooper Works 2-Dr Convertible||$190||$352||$210||$12||$62||$826||$69|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Price information does not factor in vehicle garaging location which can lower or raise prices substantially.
We can estimate from the data above that using a $250 deductible costs roughly $25 more each month or $300 annually than quoting the higher $1,000 deductible. Since you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at a minimum 30 months between claim filings, you would save money if you choose a higher deductible.
How to calculate when to raise deductibles
|Average monthly premium for $250 deductibles:||$91|
|Average monthly premium for $1,000 deductibles (subtract):||– $66|
|Monthly savings from raising deductible:||$25|
|Difference between deductibles ($1,000 – $250):||$750|
|Divide difference by monthly savings:||$750 / $25|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||30 months|
An important sidenote is that higher deductibles means you will have to pay more out-of-pocket at claim time. You need to have some funds available in order to pay the deductible.
Cost of full coverage
The illustration below illustrates the difference between Mini Cooper insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no discounts are factored in.
Deciding between full coverage and liability only
There isn’t a steadfast formula for eliminating physical damage coverage on your policy, but there is a broad guideline. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s assume your Mini Cooper claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,000 after paying your deductible. If premium cost is more than $700 a year for full coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where buying only liability insurance is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Informed Consumers Can Lower Insurance Rates
The best way to find cheaper auto insurance is to take a look at some of the factors that aid in calculating your auto insurance rates. If you understand what impacts premium levels, this allows you to make good choices that will entitle you to lower rates.
The items below are some of the major factors that factor into your prices.
- Deter theft and pay less – Buying a car with a theft deterrent system can save you some money. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop auto theft and help lower rates.
Women tend to take less risk – Statistics demonstrate women tend to be less risk to insure than men. It does not mean women are BETTER drivers than men. Females and males tend to get into at-fault accidents in similar numbers, but the men have accidents that have higher claims. Not only are claims higher, but men have more aggressive citations like driving under the influence (DUI). Male drivers age 16 to 19 are most likely to cause an accident and thus pay the highest rates.
The illustration below visualizes the comparison of Mini Cooper premium costs for male and female drivers. The data is based on a clean driving record, no claims, full coverage, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
- Only buy what you need – There are many additional extra coverages that you can buy when buying auto insurance. Add-on coverages like rental car coverage, accidental death, and Farm Bureau memberships are probably not needed. These coverages may sound good at first, but your money might be better spent on other coverage so get rid of them and save.
The type of car you drive affects your rates – The performance of the car, truck or SUV you own makes a significant difference in determining your rates. The lowest rates are usually found on the lowest performance passenger models, but many other things help determine your insurance rates.
The following data is based on a single female driver age 50, full coverage with $100 deductibles, and no discounts or violations. It illustrates Mini Cooper insurance premiums compared to other models that have different performance rating factors.
Responsible drivers have lower prices – Just one citation can bump up the cost forty percent or more. Careful drivers get better rates as compared to careless drivers. Drivers who have severe citations such as DUI, reckless driving or excessive speeding may find they need to submit a SR-22 or proof of financial responsibility with their state in order to legally drive.
The chart below illustrates how speeding tickets and accidents can drive up Mini Cooper car insurance rates for different ages of insureds. The costs are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
- Stay claim-free and save money – Auto insurance companies in Minnesota award better rates to policyholders who file claims infrequently. If you are the type of insured that files lots of claims you can definitely plan on either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Big cities have higher rates – Being located in smaller towns and rural areas of the country can save you money if you are looking for the lowest rates. Less people means a lower chance of having an accident in addition to lower liability claims. People who live in big cities have to deal with more aggressive driving styles and a longer drive to work. Longer commute distances means a statistically higher chance of an accident.
- Low credit score equals high prices – A driver’s credit rating can be a huge factor in determining what you pay. Insureds that have high credit ratings tend to file fewer claims and have better driving records than those with lower ratings. If your credit history is not that good, you may save money insuring your Mini Cooper if you improve your credit rating.
Mini Cooper insurance loss statistics – Insurers use past insurance losses as a way to help calculate a profitable premium rate. Vehicles that the data determines to have a trend towards higher claim severity or frequency will have a higher premium rate.
The table below illustrates the collected loss data for Mini Cooper vehicles. For each insurance policy coverage type, the claim amount for all vehicles as a whole is considered to be 100. Values that are under 100 imply a favorable loss record, while percentage numbers above 100 show a trend for more claims or tendency to have higher losses.
Mini Cooper Insurance Claim Statistics Specific Mini Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mini Cooper 92 72 114 74 74 85 Mini Cooper Convertible 80 72 100 57 Mini Cooper Coupe 72 60 Mini Cooper Roadster Convertible 57 50 78BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Which is the best insurance?
Always remember that when buying coverage for your vehicles, there really is no single plan that fits everyone. Each situation is unique and your policy should reflect that. These are some specific questions may help highlight if your situation would benefit from professional advice.
- Can I rate high risk drivers on liability-only vehicles?
- Where can I get insurance after a DUI in Minnesota?
- What is high-risk coverage and where do I buy it?
- Is pleasure use cheaper than using my Mini Cooper to commute?
- Am I getting all the discounts available?
- Is there coverage for my trailer?
- How can I get the company to pay a claim?
- Are my friends covered when driving my car?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and you can get the answers you need.
Insurance agents can give valuable advice
A small number of people would prefer to get professional advice from a licensed agent and that is a smart decision Good insurance agents are trained to spot inefficiencies and help submit paperwork. A good thing about comparing rates online is the fact that you can find cheaper rates but also keep your business local. Putting coverage with neighborhood insurance agencies is definitely important in Minneapolis.
By using this quick form, your information is sent to agents in your area who want to provide quotes for your insurance coverage. You won’t need to search for an agent since price quotes are sent to the email address you provide. In the event you want to quote rates for a specific company, don’t hesitate to visit that company’s website and complete a quote there.
If you are wanting to find a good Minneapolis insurance agent, it’s important to understand the different types of agents and how they can quote your rates. Minneapolis agents are classified as either independent agents or exclusive agents depending on their employer. Either can sell insurance policies, but it’s worth mentioning how they differ since it can affect the kind of agent you use.
Independent Insurance Agents
Agents in the independent channel are appointed with more than one company and that enables them to quote your coverage through lots of different companies and potentially find a lower price. If you want to switch companies, your agent can just switch to a different company and you don’t have to do anything.
When comparing rates, we highly recommend that you compare quotes from independent agents so that you can do a thorough price comparison.
Listed below is a short list of independent insurance agencies in Minneapolis that may be able to give you cheap rate quotes.
True Insurance Agency and Financial Services – Minneapolis Home and Auto Insurance
4708 Excelsior Blvd – St Louis Park, MN 55416 – (952) 388-2006 – View Map
Bernie Glover Insurance Agency
2520 Lowry Ave N – Minneapolis, MN 55411 – (612) 522-6531 – View Map
Exclusive Insurance Agencies
These type of agents can only provide pricing for a single company and examples are Allstate and State Farm. Exclusive agencies are unable to provide other company’s prices so always compare other rates. They are very knowledgeable in insurance sales and that allows them to sell at a higher price point.
Listed below are Minneapolis exclusive insurance agencies that can give you price quotes.
Finding the right car insurance agent should depend on more than just the quoted price. The questions below may impact your decision as well.
- How long has their agency been in business in Minneapolis?
- Does their agency support local causes in Minneapolis?
- Do they specialize in personal lines coverage in Minneapolis?
- How often do they review coverages?
- Are there any discounts that you might be missing?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
After talking to the agent and getting answers to your satisfaction to your questions and a good coverage price, it’s possible that you found an insurance agency that meets your needs to service your policy.
Best reasons to buy auto insurance in Minnesota
Despite the high insurance cost for a Mini Cooper in Minneapolis, insurance is mandatory in Minnesota but it also protects more than you think.
- Just about all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability insurance in order to drive the car legally. 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 you took out a loan on your Mini Cooper, almost every bank will require you to have insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the bank may buy a policy for your Mini at a significantly higher premium and force you to pay the higher price.
- Auto insurance protects both your vehicle and your personal assets. It will also cover hospital and medical expenses for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your car more than offset the price you pay, especially with large liability claims. Despite what companies tell you, the average driver is currently overpaying as much as $820 a year so smart consumers compare quotes every year to help ensure money is not being wasted.
Low-cost Mini Cooper insurance in Minneapolis can be found from both online companies and from local insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some insurance providers may not have online quoting and most of the time these smaller providers only sell through local independent agencies.
We just presented some good ideas how you can get a better price on Mini Cooper insurance in Minneapolis. It’s most important to understand that the more times you quote, the better chance you’ll have of finding cheaper Minneapolis auto insurance quotes. Consumers could even find that the best price on car insurance is with a company that doesn’t do a lot of advertising. Regional companies may have significantly lower premium rates on certain market segments than their larger competitors like Allstate or State Farm.
As you quote Minneapolis auto insurance, don’t be tempted to sacrifice coverage to reduce premiums. There are too many instances where an insured dropped full coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your focus should be to find the BEST coverage at an affordable rate while still protecting your assets.
- How do I File a Claim? (Insurance Information Institute)
- How Much is Car Insurance for High Risk Drivers in Minneapolis? (FAQ)
- Who Has the Cheapest Minneapolis Car Insurance for State Employees? (FAQ)
- Who Has Cheap Minneapolis Auto Insurance Quotes for Drivers Requiring a SR22? (FAQ)
- Who Has Cheap Minneapolis Auto Insurance for 17 Year Olds? (FAQ)
- Young Drivers: The High Risk Years Video (iihs.org)
- Collision Coverage (Liberty Mutual)
- Rental Reimbursement Coverage (Allstate)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)