Shockingly, almost 70% of insureds in Minnesota kept their policy with the same company for four years or more, and nearly half have never compared car insurance rates at all. Most drivers in the U.S. could save up to $850 a year just by shopping around, but they don’t know how much they could save if they switched.
To save the most money, the best way to get discount car insurance rates in Minneapolis is to start comparing rates regularly from insurers in Minnesota.
- Get a basic knowledge of the coverage provided by your policy and the steps you can take to lower rates. Many risk factors that result in higher prices such as inattentive driving and poor credit history can be amended by being financially responsible and driving safely. Later in this article we will cover tips to get better rates and get additional discounts that may have been overlooked.
- Request rate estimates from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like Progressive and State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the quotes to your current policy premium to see if switching to a new carrier will save money. If you find a better price and buy the policy, make sure there is no coverage gap between policies.
- Provide written notification to your current company of your intention to cancel your existing policy. Submit a down payment and signed policy application to the new company. Once coverage is bound, keep your new certificate of insurance with the vehicle registration.
The most important part of this process is to use the same level of coverage on each price quote and and to get prices from as many auto insurance providers as possible. Doing this provides the most accurate price comparison and the most accurate and complete price analysis.
Six Things That Impact Your Insurance Premiums
A large part of saving on insurance is knowing the rating factors that go into determining the rates you pay for insurance. When you understand what controls the rates you pay, this enables you to make decisions that may result in much lower annual insurance costs. Lots of things are part of the equation when pricing auto insurance. A few of the factors are predictable such as your driving history, but other criteria are more transparent like your continuous coverage or your financial responsibility.
- Being married can save on insurance – Having a significant other can actually save you money on your insurance bill. Having a significant other translates into being more stable financially and statistics prove being married results in fewer claims.
- Discounts for GPS tracking and theft deterrents – Purchasing a vehicle with advanced anti-theft systems can earn a premium discount. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help prevent your vehicle from being stolen.
- Excellent credit means lower prices – Having a bad credit history is a big factor in determining your rates. Drivers with very high credit ratings tend to be more responsible as compared to drivers with poor credit scores. So if your credit score could use some work, you could potentially save money when insuring your Jeep Liberty by improving your credit score.
- More traffic equals higher costs – Living in a rural area has definite advantages when shopping for auto insurance. Residents of big cities have more aggressive driving styles and higher rates of accident claims. Fewer people translates into fewer accidents and lower theft and vandalism rates.
- Better insurance rates on cars with good safety ratings – Safer cars are cheaper to insure. These vehicles protect occupants better and better occupant protection translates into savings for insurance companies which can mean better rates for you.
- Occupation impacts rates – Did you know that where you work can have an impact on rates? Occupations like real estate brokers, airline pilots, and financial analysts tend to pay higher rates than average because of high stress and lots of time spent away from family. Conversely, occupations such as actors, historians and retirees receive lower rates.
Detailed insurance information
The rate information shown next showcases different coverage costs for Jeep Liberty models. Knowing how insurance prices are determined helps drivers make smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Liberty Sport 2WD||$136||$232||$304||$18||$92||$782||$65|
|Liberty Limited 2WD||$156||$232||$304||$18||$92||$802||$67|
|Liberty Renegade 4WD||$156||$232||$304||$18||$92||$802||$67|
|Liberty Sport 4WD||$156||$232||$304||$18||$92||$802||$67|
|Liberty Limited 4WD||$156||$284||$304||$18||$92||$854||$71|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in zip code location which can impact premium rates significantly.
Rate comparison of male drivers versus female drivers
The chart below illustrates the comparison of Jeep Liberty car insurance costs for male and female drivers. The premiums are based on no claims or driving violations, comp and collision included, $250 deductibles, drivers are not married, and no other discounts are factored in.
Full coverage versus liability only rates
The information below shows the difference between Jeep Liberty insurance premiums when comparing full coverage to liability only. The prices are based on no claims or violations, $1,000 deductibles, marital status is single, and no discounts are applied.
When to stop buying physical damage coverage
There is no definitive formula for eliminating comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Jeep Liberty replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If premium cost is more than $200 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where only buying liability is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.
Get cheaper Jeep Liberty insurance in Minneapolis with discounts
Insuring your fleet can be pricey, but companies offer discounts that can drop the cost substantially. Some discounts apply automatically when you get a quote, but some discounts are required to be inquired about before being credited.
- Use Seat Belts – Using a seat belt and requiring all passengers to use their safety belts could cut 10% or more on medical payment and PIP coverage.
- Drivers Education – Have your child enroll in driver’s education if offered at their school.
- Anti-theft System – Vehicles that have factory alarm systems and tracking devices can help prevent theft and qualify for as much as a 10% discount.
- Life Insurance Discount – Select insurance companies reward you with a small discount if you purchase life insurance.
- Bundle and Save – When you combine your auto and homeowners insurance with one company you may save up to 20% off your total Liberty insurance premium.
- Claim-Free Discount – Insureds who avoid accidents and claims get the best insurance rates when compared with drivers who are more careless.
- Discounts for Federal Employees – Having worked for a branch of the government can save as much as 8% with select insurance companies.
- Early Switch Discount – Select insurance companies give a discount for switching to them early. It’s a savings of about 10%.
- Home Ownership Discount – Just owning your own home may trigger a policy discount on insurance because it demonstrates responsibility.
- Low Mileage Discounts – Maintaining low annual mileage could be rewarded with slightly better rates than normal.
Policy discounts save money, but most of the big mark downs will not be given to your bottom line cost. Most cut the price of certain insurance coverages like comp or med pay. Just because it seems like all the discounts add up to a free policy, you aren’t that lucky. Any amount of discount will lower your policy premiums.
The chart below illustrates the comparison of Jeep Liberty car insurance costs with and without discounts applied to the rates. Data assumes a female driver, no violations or claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, claim-free, multi-car, marriage, and safe-driver discounts applied.
A few popular companies and their offered discounts are detailed below.
- Farmers Insurance offers discounts including switch companies, distant student, youthful driver, pay in full, good student, and bundle discounts.
- Esurance may offer discounts for online quote, good student, anti-lock brakes, DriveSense, Switch & Save, and multi-car.
- State Farm has savings for Steer Clear safe driver discount, multiple policy, driver’s education, good driver, and safe vehicle.
- GEICO discounts include five-year accident-free, multi-policy, membership and employees, emergency military deployment, driver training, and multi-vehicle.
- Allstate includes discounts for EZ pay plan discount, premier discount, defensive driver, safe driver, and early signing.
It’s a good idea to ask each insurance company which discounts you qualify for. Savings might not apply in Minneapolis. To find insurance companies that offer some of these discounts in Minnesota, follow this link.
Smart consumers save more
We just covered many ideas to reduce Jeep Liberty insurance rates online in Minneapolis. The key thing to remember is the more providers you compare, the better your chances of lowering your car insurance rates. Consumers may even find the best rates are with a smaller regional carrier. Regional companies can often provide lower car insurance rates in certain areas than the large multi-state companies such as GEICO and State Farm.
Lower-priced auto insurance in Minneapolis is available from both online companies and from local insurance agents, and you should be comparing both to have the best selection. Some auto insurance companies may not provide price quotes online and these small insurance companies sell through independent insurance agents.
For more information, feel free to visit the resources below:
- Avoiding Deer Collisions (Insurance Information Institute)
- Who Has Cheap Minneapolis Auto Insurance Rates for Used Cars? (FAQ)
- Who Has the Cheapest Minneapolis Car Insurance for Drivers with a Bad Driving Record? (FAQ)
- Who Has Cheap Minneapolis Car Insurance for a Hyundai Elantra? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Hybrid Vehicles in Minneapolis? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Toyota Camry in Minneapolis? (FAQ)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Safety Belts FAQ (iihs.org)