A recent auto insurance study revealed that the vast majority of consumers kept buying from the same company for a minimum of four years, and almost 40% of drivers have never even compared rates from other companies. U.S. consumers could pocket as much as 46.5% a year by just comparing rate quotes, but they don’t understand how simple it is to compare rates and save money.
The most effective way to find cheaper quotes for car insurance rates is to start doing an annual price comparison from insurers that sell auto insurance in Minneapolis. You can compare prices by following these steps.
- First, read and learn about individual coverages and the measures you can take to prevent expensive coverage. Many things that increase rates like accidents, careless driving, and bad credit can be remedied by making lifestyle changes or driving safer.
- Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while agents who are independent can quote prices for a wide range of companies.
- Third, compare the price quotes to your current policy and see if there is a cheaper rate in Minneapolis. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
- Fourth, provide proper notification to your current company of your intent to cancel the current policy and submit a completed policy application and payment to your new insurance company. As soon as you can, keep your new certificate verifying coverage with your registration paperwork.
A valuable tip to remember is that you’ll want to compare the same coverage limits and deductibles on every quote and and to get price estimates from as many different companies as possible. This enables a fair price comparison and plenty of rates choose from.
If you have car insurance now, you should be able to shop for the lowest rates using this strategy. Finding affordable coverage in Minneapolis can be much easier if you know how to start. But Minnesota vehicle owners need to have an understanding of the way insurance companies compete online and take advantage of how the system works.
To find the best auto insurance prices, there are several ways to compare rate quotes from local Minneapolis auto insurance companies. The best method to find the lowest Dodge Challenger rates consists of shopping online.
Comparing free rates online is easy and it, replaces the need to make phone calls or go to insurance agencies in your area. Quoting and buying Dodge Challenger insurance online eliminates the need for an insurance agent unless you prefer the peace of mind of a local agency. If you prefer, some companies allow you to get prices online but have your policy serviced through an agent.
When comparing auto insurance rates, know that comparing more prices will enable you to find lower pricing.
The companies shown below offer free rate quotes in Minnesota. If you want cheap car insurance in Minneapolis, we suggest you visit two to three different companies to find the cheapest auto insurance rates.
Insurance discounts are available to lower rates
The price of auto insurance can be rather high, but you can get discounts that may help make it more affordable. Some trigger automatically at quote time, but a few need to be asked for prior to getting the savings.
- Seat Belt Discounts – Buckling up and requiring all passengers to buckle up can save up to 10 percent (depending on the company) off PIP or medical payments premium.
- Onboard Data Collection – Drivers who elect to allow their insurance company to track driving patterns by using a telematics device such as Progressive’s Snapshot might get better premium rates if they are good drivers.
- Theft Prevention Discount – Cars, trucks, and SUVs that have factory anti-theft systems help deter theft so companies will give you a small discount.
- Responsible Driver Discounts – Safe drivers can get discounts for up to 45% lower rates compared to accident prone drivers.
- Air Bag Discount – Cars that have air bags or motorized seat belts can qualify for discounts up to 30%.
Remember that most credits do not apply to your bottom line cost. A few only apply to individual premiums such as liability, collision or medical payments. Just because you may think you can get free auto insurance, it doesn’t quite work that way.
The diagram below compares Dodge Challenger insurance costs with and without discounts applied to the premium. The premiums assume a male driver, no accidents, no driving violations, Minnesota state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, claim-free, safe-driver, and marriage discounts applied.
A partial list of companies who might offer these benefits possibly include:
Before purchasing a policy, check with each insurance company which discounts you may be entitled to. Depending on the company, some discounts may not apply to policyholders in your area. To see a list of companies that have a full spectrum of discounts in Minnesota, follow this link.
Dodge Challenger insurance rate analysis
The coverage table shown below covers estimates of coverage prices for Dodge Challenger models. Knowing how auto insurance prices are formulated can assist in making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Prices do not factor in garaging location in Minneapolis which can change price quotes greatly.
Price comparison of only insuring for liability
The illustration below shows the difference between Dodge Challenger insurance rates when comparing full coverage to state minimum liability only. The information is based on no violations or accidents, $500 deductibles, marital status is single, and no policy discounts are applied.
When to stop paying for full coverage
There is no exact rule of when to drop full coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your Dodge Challenger replacement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after paying the physical damage deductible. If premium cost is more than $700 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some situations where removing full coverage is not financially feasible. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Compare rates but buy from a local Minneapolis insurance agent
Some consumers still prefer to sit down and talk to an agent and that is not a bad decision One of the benefits of getting free rate quotes online is that drivers can save money and get lower prices but also keep your business local. Buying insurance from local insurance agencies is important especially in Minneapolis.
To make it easy to find an agent, after completing this form (opens in new window), your insurance data gets sent to agents in your area who will give you bids and help you find cheaper coverage. It makes it easy because there is no need to find an agent on your own as quotes are delivered directly to your email. You can get cheaper car insurance rates without a big time investment. If you want to get a price quote for a specific company, you can always go to their quote page and fill out their quote form.
The following is a list of insurers in Minneapolis that can give you rate quotes for Dodge Challenger insurance in Minneapolis.
Picking the best provider should include more criteria than just the bottom line cost. These are some questions you should get answers to.
- Are aftermarket or OEM parts used to repair vehicles?
- Will you get a loaner vehicle if you car is being repaired?
- Is the agency covered by Errors and Omissions coverage?
- How experienced are they in personal risk management?
- Will the quote change when the policy is issued?
- What are the financial ratings for the companies they represent?
- Does the company have a local claim office in Minneapolis?
- Does their agency support local causes in Minneapolis?
Car insurance is unique, just like you
When buying proper insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Everyone’s needs are different and your car insurance should be unique as well.
These are some specific questions could help you determine whether or not you might need an agent’s assistance.
- Is my nanny covered when transporting my kids?
- Is my dog or cat covered if injured in an accident?
- Can my teen drive my company car?
- What is the ISO rating for a Dodge Challenger?
- Do I need to file an SR-22 for a DUI in Minnesota?
- Do I need rental car coverage?
- Does my policy cover me when driving someone else’s vehicle?
- Is my custom paint covered by insurance?
- When should I remove comp and collision on my Dodge Challenger?
- Are rental cars covered under my policy?
If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.
Smart Consumers Save More
Multiple criteria are considered when quoting car insurance. Some of the criteria are obvious like your driving record, but other factors are not as apparent such as whether you are married or your commute time. When buying insurance it’s important to understand some of the factors that play a part in calculating the price you pay for insurance. If you have a feel for what impacts premium levels, this allows you to make good choices that can earn you better insurance rates.
- Safety ratings are a factor – Safe vehicles cost less to insure. Safe vehicles reduce occupant injuries and better occupant protection means lower claim amounts and more competitive rates for policyholders. If your Dodge Challenger earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
Gals tend to take less risk – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean males are worse at driving than females. Females and males cause at-fault accidents in similar percentages, but the males get into accidents with more damage. Not only that, but men also get ticketed for serious violations like driving under the influence (DUI). Male drivers age 16 to 19 tend to get in the most accidents and are penalized with high insurance rates.
The diagram below shows the difference between Dodge Challenger premium costs for male and female drivers. The rate quotes are based on no tickets, no at-fault accidents, comp and collision included, $500 deductibles, single status, and no discounts are applied.
- Your address can push rates up or down – Living in a small town has it’s advantages if you are looking for the lowest rates. People who live in big cities have more aggressive driving styles and longer commutes to work. Fewer drivers translates into fewer accidents as well as less vandalism and auto theft.
- Safeguard your assets with liability – A critical coverage on your policy, liability insurance will afford coverage if you are determined to be liable for causing damage or personal injury in an accident. It provides for a legal defense to defend your case. This coverage is very inexpensive compared to comp and collision, so do not skimp.
Insurance is expensive for youthful drivers – Older, more experienced drivers tend to be more responsible, statistically cause fewer accidents, and are safer drivers. Inexperience drivers have been known to be easily distracted when at the wheel of a vehicle so they pay higher insurance rates.
The data below assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
- Low comp and collision deductibles can be expensive – Protection for physical damage, also called ‘full coverage’, covers your vehicle from damage. Examples of covered claims are a broken windshield, hitting a deer, and burglary. The deductibles represent how much money you are willing to pay out-of-pocket before your insurance pays a claim. The more you choose to pay out-of-pocket, the less your company will charge you for insurance.
Why you need insurance for your Dodge vehicle
Despite the high cost of buying insurance for a Dodge Challenger in Minneapolis, paying for auto insurance is a good idea for several reasons.
- Almost all states have minimum liability requirements which means state laws require a specific minimum amount of liability insurance coverage in order to get the vehicle licensed. 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 have a lien on your vehicle, it’s guaranteed your bank will make it mandatory that you buy insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank will be required to insure your Dodge for a lot more money and require you to pay for it.
- Auto insurance protects both your assets and your Dodge. It will also pay for all forms of medical expenses incurred in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of having auto insurance definitely exceed the price paid, especially if you ever need it. Despite what companies tell you, the average driver is overpaying more than $865 each year so shop around every year to help ensure money is not being wasted.
Compare rates regularly to save
When getting Minneapolis auto insurance quotes online, it’s not a good idea to reduce needed coverages to save money. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to purchase a proper amount of coverage at the best possible price, not the least amount of coverage.
Low-cost Dodge Challenger insurance in Minneapolis is available on the web and with local Minneapolis insurance agents, so get free Minneapolis auto insurance quotes from both of them to have the best chance of lowering rates. Some insurance companies may not have rate quotes online and these small, regional companies work with independent agents.
More tips and info about auto insurance can be read in the articles below:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has Cheap Auto Insurance Quotes for Teachers in Minneapolis? (FAQ)
- Medical Payments Coverage (Liberty Mutual)
- Determining Auto Insurance Rates (GEICO)
- Tread Depth and Tire Safety (State Farm)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)