Cheap Quotes for Kia Rio Insurance in Minneapolis

It’s well known that auto insurance companies don’t want their customers to go rate shopping. Drivers who compare price quotes are inclined to switch to a new company because there is a high probability of finding a lower-priced policy. A study showed that people who regularly compared price quotes saved as much as $70 a month compared to people who never compared prices.

If finding discount rates on Kia Rio insurance is your ultimate goal, knowing how to shop for car insurance can help simplify the task of finding more affordable coverage.

Insurance for Kia RioIf you want to save the most money, the best way to get budget auto insurance rates in Minneapolis is to make a habit of comparing prices annually from insurers in Minnesota. You can shop around by following these guidelines.

First, spend some time learning about the coverage provided by your policy and the measures you can take to prevent expensive coverage. Many risk factors that increase rates like getting speeding tickets and a lousy credit rating can be improved by improving your driving habits or financial responsibility.

Second, get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agents can give you price quotes from multiple insurance companies.

Third, compare the new rate quotes to your existing rates to see if a cheaper price is available. If you find a better price and make a switch, make sure there is no coverage gap between policies.

A key point to remember is to make sure you enter the same level of coverage on every quote and and to get prices from as many companies as you can. Doing this helps ensure a fair rate comparison and a complete rate analysis.

If you are already insured or just want to reduce your rates, you can use this information to buy cheaper auto insurance without reducing protection. Finding quotes for affordable protection in Minneapolis is actually quite simple. Smart buyers just have to learn the fastest way to compare price quotes over the internet.

The providers in the list below are ready to provide quotes in Minneapolis, MN. To buy cheap auto insurance in Minneapolis, we suggest you visit two to three different companies to find the cheapest auto insurance rates.

Get cheaper Kia Rio insurance in Minneapolis with discounts

Not many people think insurance is cheap, but there are discounts available that many consumers don’t even know exist. Some discounts will apply when you complete an application, but less common discounts must be asked about prior to getting the savings.Save money with discounts

As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, nobody gets a free ride.

The illustration below compares Kia Rio premium costs with and without discounts applied to the rates. The costs are based on a male driver, no accidents, no driving violations, Minnesota state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-policy, safe-driver, multi-car, and marriage discounts applied.

To view car insurance companies who offer online Kia Rio insurance quotes in Minnesota, click this link.

Kia Rio insurance rates and statistics

The rate table below covers a range of insurance premium costs for Kia Rio models. Being more informed about how insurance policy premiums are formulated can benefit drivers when making informed decisions.

Kia Rio Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $204 $508 $406 $24 $122 $1,264 $105
Rio LX $204 $508 $406 $24 $122 $1,264 $105
Rio SX $234 $598 $406 $24 $122 $1,384 $115
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price information does not factor in specific location information which can lower or raise coverage rates significantly.

Policy deductibles

A question often asked by Minneapolis drivers is how high should the physical damage coverage deductibles be. The tables below may help to conceptualize the cost difference when you choose different physical damage coverage deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second price chart uses a $500 deductible.

Kia Rio insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $214 $414 $358 $22 $108 $1,141 $95
Rio LX $214 $414 $358 $22 $108 $1,141 $95
Rio SX $246 $486 $358 $22 $108 $1,245 $104
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Kia Rio insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $174 $334 $358 $22 $108 $996 $83
Rio LX $174 $334 $358 $22 $108 $996 $83
Rio SX $200 $392 $358 $22 $108 $1,080 $90
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in specific Minneapolis garaging location which can raise or lower premium rates substantially.

We can estimate from the data above that using a $250 deductible would cost the average driver about $13 more each month or $156 each year than choosing the higher $500 deductible. Because you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you average more than 19 months between claim filings, you would probably be better off by selecting a higher deductible.

Full coverage versus liability-only

The example below illustrates the difference between Kia Rio insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Minnesota. The prices are based on no violations or accidents, $250 deductibles, drivers are single, and no additional discounts are factored in.

Guidelines for eliminating full coverage

There is no definitive formula to drop physical damage coverage, but there is a guideline you can consider. If the yearly cost of full coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Kia Rio replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after you pay the deductible. If it’s costing you more than $500 a year for physical damage coverage, then it’s probably a good time to buy liability coverage only.

There are a few cases where only buying liability is not a good plan. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.

Car insurance agents can help

Some people still prefer to buy from a local agent and that is not a bad decision Experienced insurance agents can answer important questions and help file insurance claims. The best thing about comparing insurance prices online is that drivers can save money and get better rates and still buy from a local agent. And supporting local agents is still important in Minneapolis.

Insurance agency in MinneapolisTo help locate an agent, after submitting this form (opens in new window), the quote information is instantly submitted to local insurance agents in Minneapolis who will return price quotes to get your business. You don’t have to visit any agencies because quoted prices will be sent to you. In the event you want to get a rate quote from a particular provider, just jump over to their website and submit a quote form there.

Choosing an insurer needs to be determined by more than just the bottom line cost. These are some questions your agent should answer.

Eight Tips to Get Cheap Minneapolis Insurance Costs

It’s important that you understand the different types of things that aid in calculating your policy premiums. If you understand what impacts premium levels, this allows you to make educated decisions that can help you get big savings. Lots of factors are part of the equation when you get a price on insurance. A few of the factors are predictable such as your driving history, although others are less obvious like your vehicle usage or how financially stable you are.

Safer cars lower car insurance rates – Safer cars are cheaper to insure. Safer cars reduce the chance of injuries and lower rates of occupant injuries translates directly to fewer claims and lower rates for you.

Drive lots and pay more – Driving more miles in a year the more it will cost to insure it. A lot of insurance companies calculate prices based on their usage. Autos that are left in the garage cost less to insure than those that get driven frequently. It’s a smart idea to ensure your car insurance policy is showing the proper vehicle usage. Having the wrong rating on your Rio may be wasting your money.

Know your credit score – Having a bad credit score is a big factor in calculating your premium rate. Therefore, if your credit score could use some work, you could potentially save money when insuring your Kia Rio by improving your credit score. Drivers who have excellent credit scores tend to file fewer claims and have better driving records as compared to drivers with poor credit.

How much liability insurance – A critical coverage on your policy, liability insurance will protect you when you are responsible for damages caused by your negligence. This coverage provides for a legal defense starting from day one. Liability insurance is pretty cheap compared to physical damage coverage, so drivers should buy more than the minimum limits required by law.

Don’t get traffic citations – Careful drivers pay less for auto insurance than people who have multiple driving citations. Having just one speeding ticket could increase your next policy renewal by as much as thirty percent. Drivers who have gotten flagrant violations such as DUI or reckless driving may find they need to complete a SR-22 with their state in order to keep their license.

The chart below demonstrates how traffic citations and at-fault claims drive up Kia Rio insurance prices for different age groups. The premiums are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.

Lower rates for married couples – Being married may earn you lower rates when buying car insurance. Having a significant other may mean you are more mature than a single person and insurance companies reward insureds because married drivers tend to have fewer serious accidents.

Never let your car insurance policy lapse – Having an insurance coverage lapse is a guaranteed way to bump up your car insurance costs. In addition to paying higher premiums, the inability to provide proof of insurance will get you a fine, jail time, or a revoked license.

Are you male or female? – Over the last 30 years, statistics show that females tend to be a little less risky than males. Now that doesn’t mean men are worse drivers. Both genders cause auto accidents at about the same rate, but males have costlier accidents. Men also statistically get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.

The information below illustrates the difference between Kia Rio insurance premiums for male and female drivers. The price estimates are based on no accidents or driving violations, comp and collision included, $100 deductibles, drivers are single, and no policy discounts are applied.

Kia Rio statistical loss data – Companies use statistical claims data to help set a rate to offset losses. Vehicles that the data determines to have higher frequency or amount of claims will cost more for coverage. The next table shows the historical loss data for Kia Rio vehicles.

For each insurance policy coverage type, the claim amount for all vehicles, as an average, is a value of 100. Numbers under 100 indicate a favorable loss history, while values over 100 indicate more frequent losses or an increased chance of a larger loss.

Kia Rio Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Kia Rio 90 109 81 141 158 127

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Why do I need car insurance?

Even though Minneapolis Rio insurance rates can get expensive, insurance may be required and benefits you in several ways.

The benefits of buying enough insurance are without a doubt worth the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is overpaying more than $820 a year so you should quote and compare rates at every policy renewal to make sure the price is not too high.

Cheap auto insurance is out there

Cheaper Kia Rio insurance in Minneapolis can be bought online in addition to many Minneapolis insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. There are still a few companies who do not provide rate quotes online and these smaller companies only sell coverage through independent insurance agencies.

Drivers leave their current company for a variety of reasons including delays in responding to claim requests, delays in paying claims, denial of a claim and extreme rates for teen drivers. Regardless of your reason for switching companies, finding a great new company can be less work than you think.

When shopping online for auto insurance, it’s a bad idea to buy poor coverage just to save money. In too many instances, an insured dropped liability limits or collision coverage to discover at claim time that the savings was not a smart move. The aim is to get the best coverage possible at the lowest possible cost, but don’t skip important coverages to save money.

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