Amazingly, a recent NerdWallet.com study showed that the vast majority of consumers in Minnesota have been with the same company for four years or more, and just short of a majority have never compared insurance rates at all. U.S. drivers can cut their rates by as much as $860 a year by just shopping around, but most undervalue how much savings they would realize if they switched to a cheaper policy.
It takes a few minutes, but the best way to find more affordable Hyundai Veloster insurance in Minneapolis is to start comparing prices yearly from insurance carriers who sell auto insurance in Minnesota.
- Learn about the coverage provided by your policy and the measures you can take to prevent expensive coverage. Many rating criteria that result in higher rates like multiple speeding tickets and a lousy credit rating can be controlled by making lifestyle changes or driving safer. This article provides instructions to get affordable coverage and find possible discounts that are available.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agencies can give you price quotes for a wide range of companies.
- Compare the quotes to your current policy to see if a cheaper rate is available in Minneapolis. If you can save some money, ensure coverage does not lapse between policies.
- Give notification to your current company of your intent to cancel your existing policy. Submit a completed application and payment to your new insurance company. Once the paperwork is finalized, keep your new certificate verifying proof of insurance somewhere easily accessible.
A good tip to remember is that you’ll want to compare identical deductibles and limits on each quote and and to get rates from as many carriers as you can. This enables an apples-to-apples comparison and the best rate selection.
Finding and comparing the most affordable protection in Minneapolis is easy if you know what you’re doing. In a nutshell, every person who needs more affordable insurance will most likely be able to reduce their rates. Although Minnesota vehicle owners can benefit by having an understanding of how big insurance companies calculate their prices because it varies considerably.
The best way we recommend to compare insurance rates in your area is to take advantage of the fact almost all companies participate in a system to give you rate quotes. All consumers are required to do is take a few minutes to give details such as the ages of drivers, your occupation, your general credit rating, and how much education you have. The rating information gets sent immediately to multiple insurance providers and you should receive rate quotes within a short period of time.
To get price quotes for your car now, click here and enter the information requested.
The companies shown below provide quotes in Minnesota. To locate cheap auto insurance in Minneapolis, we suggest you compare several of them to get the best price comparison.
You may qualify for discounts for Hyundai Veloster insurance in Minneapolis
The cost of insuring your cars can be expensive, but you can get discounts that many consumers don’t even know exist. Some trigger automatically when you purchase, but occasionally some discounts must be specially asked for before you will receive the discount. If they aren’t giving you every credit available, you could be getting lower rates.
- Driver’s Education for Students – Cut your cost by having your teen driver enroll in driver’s education in high school.
- College Student Discount – Children who live away from home at college and do not have a car may be able to be covered for less.
- Low Mileage Discounts – Low annual miles could earn lower insurance rates on the low mileage vehicles.
- Waiver for an Accident – This isn’t a discount exactly, but certain companies will allow you to have one accident without the usual rate increase with the catch being you have to be claim-free for a specific time period.
- Multiple Policy Discount – If you have multiple policies with the same insurance company you could earn a discount of up to 20% off your total Veloster insurance premium.
- Discount for Good Grades – A discount for being a good student can earn a discount of 20% or more. Most companies allow this discount until age 25.
- Government Employees – Active or retired federal employment may qualify for a discount when you quote Minneapolis auto insurance with some insurance companies.
- Homeowners Savings – Just being a homeowner may earn you a small savings because owning a home means you have a higher level of financial diligence.
A little note about advertised discounts, some credits don’t apply to all coverage premiums. Most only apply to the price of certain insurance coverages like liability and collision coverage. So even though you would think adding up those discounts means a free policy, insurance companies aren’t that generous.
Large insurance companies and their possible discounts are outlined below.
- State Farm may offer discounts for passive restraint, accident-free, good student, driver’s education, and Steer Clear safe driver discount.
- Farmers Insurance has savings for bundle discounts, alternative fuel, teen driver, electronic funds transfer, youthful driver, and pay in full.
- GEICO has discounts for emergency military deployment, daytime running lights, driver training, multi-vehicle, defensive driver, and good student.
- American Family may have discounts that include TimeAway discount, good driver, multi-vehicle, early bird, and air bags.
- Nationwide offers discounts including easy pay, multi-policy, anti-theft, Farm Bureau membership, and defensive driving.
- Progressive policyholders can earn discounts including multi-policy, online quote discount, homeowner, online signing, and continuous coverage.
If you need the cheapest Hyundai Veloster rate quotes, ask every company which discounts they offer. Some discounts listed above may not apply to policyholders in your state.
Why you need insurance for your Hyundai vehicle
Even though it can be expensive, insuring your vehicle serves an important purpose.
- Just about all states have compulsory liability insurance requirements which means state laws require a specific minimum amount of liability 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.
- If you took out a loan on your Veloster, most banks will force you to have insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank may insure your Hyundai at a significantly higher premium and make you pay for it.
- Insurance safeguards not only your vehicle but also your financial assets. It will also reimburse you for all forms of medical expenses incurred in an accident. Liability insurance also pays expenses related to your legal defense if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of carrying enough insurance definitely exceed the cost, particularly if you ever have a claim. Today the average American driver is overpaying more than $820 a year so we recommend shopping around at every policy renewal to make sure the price is not too high.
Minnesota car insurance company ratings
Finding a good quality insurance provider is difficult considering how many companies sell coverage in Minnesota. The company ratings below can help you select which car insurance companies to look at purchasing coverage from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Mercury Insurance | 87 | 95 | 87 | 84% | A+ | 88.3 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Auto insurance agents near you
Many drivers would rather get professional advice from a licensed agent and that can be a great decision One of the benefits of price shopping on the web is that drivers can save money and get cheaper rates but still work with a licensed agent. Buying insurance from local insurance agencies is still important in Minneapolis.
To help locate an agent, after submitting this short form, the quote information is submitted to agents in your area who will return price quotes for your coverage. You never need to do any legwork because quoted prices will be sent straight to your inbox. You can most likely find cheaper rates AND an agent nearby. If you want to compare rates from a specific company, feel free to find their quoting web page and give them your coverage information.
If you are wanting to find a local Minneapolis insurance agent, there are two types of agencies and how they operate. Minneapolis agents may be either exclusive or independent.
Independent Car Insurance Agents
These agents are not restricted to one company so as a result can place your coverage through many different car insurance companies and find you cheaper rates. If prices rise, your policy is moved internally and that require little work on your part. If you are comparing rate quotes, we recommend you check rates from independent agents for maximum quote selection.
Shown below are independent insurance agents in Minneapolis that can give you free car insurance quotes.
A Act One Auto Insurance Agency
2925 Glenhurst Ave – Minneapolis, MN 55416 – (612) 722-8010 – View Map
True Insurance Agency and Financial Services – Minneapolis Home and Auto Insurance
4708 Excelsior Blvd – St Louis Park, MN 55416 – (952) 388-2006 – View Map
Horizon Agency Inc
11000 W 78th St – Minneapolis, MN 55423 – (952) 944-2929 – View Map
Exclusive Insurance Agencies
Exclusive agents can only provide one company’s prices and examples are Allstate, AAA, Farmers Insurance, and State Farm. These agents are unable to place coverage with different providers so they are skilled at selling on more than just price. Exclusive agencies are trained well in insurance sales which helps them sell insurance even at higher premiums.
The following is a short list of exclusive agents in Minneapolis willing to provide comparison quotes.
American Family Insurance – Katie Bard
5459 Nicollet Ave – Minneapolis, MN 55419 – (612) 345-7900 – View Map
Jeff Meyer – State Farm Insurance Agent
4316 S Upton Ave – Minneapolis, MN 55410 – (612) 920-2340 – View Map
Moon Lai – State Farm Insurance Agent
2718 Nicollet Ave #204 – Minneapolis, MN 55408 – (612) 870-0800 – View Map
Picking an insurance agency should depend on more than just a cheap price. Here are some questions you should ask.
- Can glass claims be handled at your home?
- Are they actively involved in the community?
- How many companies do they write for?
- Do they assist clients in filing claims?
- Do they offer accident forgiveness?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Is assistance available after office hours?
- How many years have they been established?
Car insurance coverage breakdown
Learning about specific coverages of car insurance can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverage types offered by car insurance companies.
Auto collision coverage
This pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like crashing into a building, hitting a mailbox, damaging your car on a curb, rolling your car and crashing into a ditch. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible on your Veloster to bring the cost down.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for things like EMT expenses, surgery and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover all vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not universally available and may carry a deductible
UM/UIM Coverage
This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your Hyundai Veloster.
Because many people only purchase the least amount of liability that is required (30/60/10 in Minnesota), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive or Other Than Collision
This will pay to fix damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like damage from getting keyed, hail damage, hitting a bird, theft and hitting a deer. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Liability insurance
This coverage will cover injuries or damage you cause to other people or property in an accident. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 30/60/10 which means a $30,000 limit per person for injuries, $60,000 for the entire accident, and a limit of $10,000 paid for damaged property. Another option is a combined limit which provides one coverage limit without having the split limit caps.
Liability insurance covers things such as loss of income, attorney fees, medical expenses, structural damage and court costs. The amount of liability coverage you purchase is a personal decision, but buy higher limits if possible. Minnesota state law requires minimum liability limits of 30/60/10 but it’s recommended drivers buy more liability than the minimum.
The next chart shows why buying the state minimum limits may not be high enough to adequately cover claims.