Compare Toyota Venza Insurance Rate Quotes in Minneapolis

Discount Toyota Venza insuranceWant to save money and find cheaper auto insurance rates in Minneapolis, MN? Minneapolis shoppers have a choice when shopping for the lowest priced Toyota Venza insurance. You can either waste hours calling around to get rate comparisons or use the internet to get rate quotes. There are both good and bad ways to compare auto insurance rates and we’ll show you the proper way to price shop coverage for a Toyota and find the cheapest rates either online or from Minneapolis insurance agents.

Cutting your insurance rates is not rocket science. The only thing you need to do is invest a few minutes comparing free Minneapolis car insurance quotes from some recommended companies.

The providers in the list below are ready to provide free quotes in Minnesota. If multiple companies are listed, it’s highly recommended you compare several of them in order to get a fair rate comparison.

Insurance coverage analysis

The coverage table displayed next outlines a range of coverage prices for Toyota Venza models. Having a good grasp of how insurance premiums are determined is important to be able to make smart choices when purchasing an insurance policy.


Toyota Venza Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $308 $580 $318 $18 $94 $1,318 $110
Venza AWD 4-Dr $308 $580 $318 $18 $94 $1,318 $110
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate quotes do not factor in specific zip code location which can alter prices substantially.

Higher deductibles save money

One of the most common insurance questions is how high should the physical damage deductibles be. The rates shown below may aid in understanding the cost difference between low and high comp and collision deductibles. The first rate quote example uses a $250 physical damage deductible and the second data table uses a $500 deductible.


Toyota Venza insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $276 $486 $318 $18 $94 $1,217 $101
Venza AWD 4-Dr $276 $486 $318 $18 $94 $1,217 $101
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Toyota Venza insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $224 $392 $318 $18 $94 $1,046 $87
Venza AWD 4-Dr $224 $392 $318 $18 $94 $1,046 $87
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in your specific Minneapolis location which can alter premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible will cost you about $14 more each month or $168 annually averaged for all Venza models than opting for the higher $500 deductible. Because you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you usually have more than 18 months between claim filings, you would come out ahead by going with a higher deductible. Here’s an example of how you can do this calculation yourself.

Average monthly premium for $250 deductibles: $101
Average monthly premium for $500 deductibles (subtract): – $87
Monthly savings from raising deductible: $14
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

Cost of full coverage in Minneapolis

The illustration below illustrates the comparison of Toyota Venza auto insurance rates with full coverage compared to only the Minnesota minimum liability coverage. The prices are based on no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are applied.

When to drop comprehensive and collision coverage

There is no set guideline for phasing out physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s assume your Toyota Venza settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $6,000 after the policy deductible has been paid. If it’s costing you more than $600 a year for comprehensive and collision coverage, then it might be time to buy liability only.

There are some scenarios where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

How Your Venza Insurance Rates are Determined

The best way to find cheaper insurance is to take a look at the rating factors that are used to determine the price you pay for insurance. If you understand what impacts premium levels, this allows you to make good choices that may reward you with much lower annual insurance costs. Multiple criteria are used in the calculation when premium rates are determined. Some are pretty understandable like your driving record, although some other factors are more obscure like your continuous coverage or your commute time.

Why you need quality insurance for your Toyota Venza

Despite the high cost, maintaining insurance is mandatory in Minnesota but it also protects more than you think.

The benefits of insuring your Venza definitely exceed the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver overpays as much as $855 a year so you should quote your policy with other companies once a year at a minimum to make sure the price is not too high.

Minneapolis auto insurance companies ranked

Selecting a high-quality insurance company is difficult considering how many companies there are to choose from in Minneapolis. The rank data in the lists below may help you pick which auto insurance companies to look at when shopping around.

Top 10 Minneapolis Car Insurance Companies Ranked by Value

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

Top 10 Minneapolis Car Insurance Companies by A.M. Best Rank

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