Purchasing cheaper Minneapolis Toyota Prius V insurance quotes over the internet may seem to be overwhelming for people who are beginners to quoting and comparing rates and buying car insurance online. Because there are so many companies, how are people expected to even start to compare the different rates to find better car insurance prices?
It’s a known fact that auto insurance companies don’t want you to look for cheaper rates. Insureds who shop around for cheaper prices will probably switch car insurance companies because there is a high probability of finding lower prices. A study showed that drivers who routinely shopped for cheaper coverage saved as much as $865 a year compared to drivers who never compared other company’s rates.
If saving money on Toyota Prius V insurance is your ultimate target, knowing the best way to shop and compare coverages can save money and time.
It’s a good habit to do rate comparisons before your policy renews since insurance prices trend upward over time. Just because you had the best quotes on Toyota Prius V insurance in Minneapolis a year ago you can probably find a better rate now. Block out anything you think you know about car insurance because you’re going to get a crash course in the fastest and easiest way to save money, get proper coverage and the best rates.
Keep in mind that comparing a large number of companies increases the chance that you will find a lower rate. Not every company provides Minneapolis Prius V insurance quotes over the internet, so it’s important to also get price estimates from them, too.
The following companies are our best choices to provide free rate quotes in Minneapolis, MN. If your goal is to find the best auto insurance in Minneapolis, we recommend you visit several of them to get the best price comparison.
Insuring your vehicle just makes sense
Even though it’s not necessarily cheap to insure a Toyota in Minneapolis, buying insurance is required for several reasons.
First, most states have minimum liability requirements which means you are required to buy specific minimum amounts of liability insurance coverage 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.
Second, if your Toyota Prius V has a loan, most banks will force you to have full coverage to guarantee loan repayment. If you do not keep the policy in force, the bank or lender will purchase a policy for your Toyota at a significantly higher premium and force you to pay for the expensive policy.
Third, insurance preserves not only your car but also your financial assets. It also can pay for medical bills for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your car more than cancel out the cost, especially when you need to use it. Unknowingly, the average driver is wasting up to $855 a year so you should quote your policy with other companies each time the policy renews to save money.
Get cheaper rates by taking advantage of discounts
Insurance can cost an arm and a leg, but you may find discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time you complete a quote, but less common discounts must be asked about prior to getting the savings. If you’re not getting every credit you qualify for, you may be paying too high a price.
- Air Bag Discount – Vehicles equipped with air bags can get savings up to 30%.
- Renewal Discounts – Some companies reward drivers for switching policies before your current coverage expires. The savings is around 10%.
- Club Memberships – Participating in a civic or occupational organization in Minneapolis could qualify you for a break when shopping for insurance.
- Driver Training Discounts – Participating in a safe driver class is a good idea and can lower rates and also improve your driving technique.
- Multiple Policy Discount – If you insure your home and vehicles with one insurance company you may earn approximately 10% to 15%.
- Early Payment Discounts – If paying your policy premium upfront rather than spreading payments over time you may have a lower total premium amount.
You should keep in mind that many deductions do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like comp or med pay. So even though you would think all those discounts means the company will pay you, companies wouldn’t make money that way. Any amount of discount will cut your overall bill.
Larger insurance companies and some of their more popular discounts are:
- GEICO discounts include federal employee, seat belt use, anti-lock brakes, multi-policy, and five-year accident-free.
- Travelers may have discounts that include multi-car, continuous insurance, good student, early quote, new car, and student away at school.
- Nationwide has savings for business or organization, multi-policy, easy pay, family plan, and accident-free.
- Farmers Insurance offers discounts for distant student, bundle discounts, mature driver, youthful driver, and multi-car.
- Esurance offers discounts including good driver, anti-theft, claim free, Switch & Save, renters, and good student.
- State Farm policyholders can earn discounts including anti-theft, safe vehicle, Drive Safe & Save, accident-free, student away at school, multiple policy, and defensive driving training.
- Progressive includes discounts for online quote discount, multi-policy, online signing, homeowner, good student, and continuous coverage.
- Mercury Insurance offers premium reductions for age of vehicle, good driver, multi-car, accident-free, anti-theft, and professional/association.
Check with each insurance company which discounts they offer. Some discounts listed above may not apply in your state. To view companies who offer online Toyota Prius V insurance quotes in Minneapolis, click here to view.
You may need help from an agent
Certain consumers prefer to get professional advice from a licensed agent. The biggest benefit of comparing rates online is you can get lower rates and still have a local agent.
After filling out this short form, your coverage information is submitted to companies in Minneapolis that give free quotes for your insurance coverage. You won’t even need to do any legwork since price quotes are sent straight to your inbox. You can most likely find cheaper rates AND an agent nearby. In the event you want to get a price quote from one company in particular, you can always visit that company’s website and complete a quote there.
Picking an insurer requires you to look at more than just a cheap price. Before buying a policy in Minneapolis, get answers to these questions.
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Are there any discounts that you might be missing?
- How long has the business existed?
- Do you need full coverage on every vehicle?
- Are they involved in claim handling?
- Will your rates increase after a single accident?
- Which insurance companies are they affiliated with?
- Is the agency covered by Errors and Omissions coverage?
If you want to buy auto insurance from a reputable insurance agent or broker, you should know the different types of agencies to choose from. Minneapolis agents are classified as either independent or exclusive depending on the company they work for.
Exclusive Auto Insurance Agents
These agents can only write with one company and examples are Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents cannot compare other company’s rates so always compare other rates. These agents are highly trained on sales techniques which helps overcome the inability to quote other rates. Drivers often choose to use a exclusive agent mainly due to the brand name rather than low price.
Shown below are Minneapolis exclusive insurance agencies that are able to give price quotes.
- Kelly Mulligan Allstate Insurance Agency
80 8th St S – Minneapolis, MN 55402 – (612) 713-9253 – View Map
- Kim Nybo – State Farm Insurance Agent
2724 University Ave SE – Minneapolis, MN 55414 – (612) 767-7775 – View Map
- State Farm: Seth Bork Insurance Agency Incorporated
8347 University Ave NE D – Minneapolis, MN 55432 – (763) 780-2222 – View Map
Agents of this type are not restricted to one company so they can write business amongst many companies and find the cheapest auto insurance rates. If you are not satisfied with one company, your agent can just switch to a different company and you don’t have to switch agencies. When comparing auto insurance prices, you will want to compare prices from independent agents to ensure the widest selection of prices. Most also have access to mutual insurance companies that may have much lower rates than larger companies.
Shown below is a short list of independent agents in Minneapolis that can give you price quotes.
- Cheap Car Insurance Minneapolis Auto Insurance Agency
2227 W 21st St – Minneapolis, MN 55405 – (612) 425-1616 – View Map
- RJF Agencies, Inc.
7225 Northland Dr N #300 – Minneapolis, MN 55428 – (763) 746-8000 – View Map
- RC4 Insurance Agency, LLC
7220 Metro Blvd #150 – Minneapolis, MN 55439 – (952) 896-9542 – View Map
Will just any policy work for me?
Always remember that when buying adequate coverage, there really is no cookie cutter policy. Every insured’s situation is different.
For instance, these questions might help in determining if your insurance needs might need professional guidance.
- Is water damage covered by my policy?
- Am I covered by my spouse’s policy after a separation?
- Is my vehicle covered by my employer’s policy when using it for work?
- Should I rate my Toyota Prius V as pleasure use or commute?
- Do I pay less if my vehicle is kept in my garage?
- When should I not buy collision coverage?
- Is my business laptop covered if it gets stolen from my vehicle?
- Why am I required to buy high-risk coverage?
If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form.
Find affordable rates by being thorough
Insureds change insurance companies for a variety of reasons including denial of a claim, not issuing a premium refund, being labeled a high risk driver and delays in responding to claim requests. Regardless of your reason, choosing a new company can be less work than you think.
The cheapest Toyota Prius V insurance in Minneapolis is available both online as well as from independent agents in Minneapolis, and you should compare rates from both to have the best selection. Some insurance companies may not offer rate quotes online and many times these smaller providers work with independent insurance agencies.
We just showed you quite a bit of information on how to save on Toyota Prius V insurance in Minneapolis. The most important thing to understand is the more rate comparisons you have, the better your chances of lowering your rates. Consumers could even find that the biggest savings come from a smaller regional carrier.
Steps to buying cheaper Toyota Prius V insurance in Minneapolis
If you want to find the absolute lowest rates, then the best way to get discount Toyota Prius V insurance is to compare prices annually from companies in Minneapolis. This can be done by following these steps.
- Step 1: Spend a few minutes and learn about how auto insurance works and the measures you can control to prevent rate increases. Many policy risk factors that result in higher prices such as accidents, traffic violations, and poor credit rating can be rectified by being financially responsible and driving safely.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and State Farm, while independent agents can provide rate quotes from multiple sources. View a list of agents
- Step 3: Compare the new quotes to your current policy to determine if you can save on Prius V insurance in Minneapolis. If you find a lower rate and change companies, make sure coverage is continuous and does not lapse.
- Step 4: Notify your agent or company to cancel your current car insurance policy and submit a completed application and payment for your new policy. Don’t forget to put the certificate of insurance in an accessible location in your vehicle.
A valuable tip to remember is to make sure you enter the same level of coverage on every quote and and to look at as many companies as you can. Doing this ensures a level playing field and the best price selection.
For more information, link through to the resources below:
- Credit and Insurance Scores (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a Jeep Grand Cherokee in Minneapolis? (FAQ)
- Older Driver Statistics (Insurance Information Institute)
- Side Impact Crash Tests (iihs.org)