How many times have you told yourself to find cheaper Kia Spectra insurance in Minneapolis? Pretty sure you bought an overpriced auto insurance policy? Believe me, you’re not alone.
Unfortunately, a large majority of drivers have stayed with the same insurance company for at least the last four years, and just under half have never compared rates from other carriers. Minneapolis insurance shoppers could save almost 50% every year just by shopping around, but they don’t understand how simple it is to shop their coverage around. Many insurance companies compete for your insurance dollar, and it can be difficult to compare rates and get the definite best price available on Kia Spectra insurance in Minneapolis.
It’s important to shop coverage around periodically because insurance prices go up and down regularly. If you had the lowest rates on Kia Spectra insurance in Minneapolis a year ago other companies may now be cheaper. You can search a lot of Spectra insurance on the web, but by reading this article, you’re going to learn some excellent ideas to save money.
If you are insured now or are looking for a new policy, take advantage of these tips to buy cheaper car insurance without reducing protection. Choosing the most cost-effective car insurance policy in Minneapolis is much easier if you have a good place to start. Drivers just have to know the most time-saving way to shop their coverage around online.
The providers in the list below are ready to provide comparison quotes in Minnesota. To locate the cheapest car insurance in Minnesota, we recommend you visit as many as you can in order to find the most competitive rates.
Three reasons insurance is important
Despite the fact that insurance is not cheap in Minneapolis, buying insurance may be mandatory for several reasons.
First, almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific level of liability if you drive a 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 vehicle has a loan, almost every bank will require that you carry insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender may insure your Kia at a much higher premium rate and require you to fork over a much higher amount than you were paying before.
Third, insurance protects both your car and your personal assets. It will also provide coverage for medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance are definitely more than the cost, especially if you ever need it. The average driver in America is overpaying over $750 every year so we recommend shopping around at every renewal to be sure current rates are still competitive.
Auto insurance coverage information
Having a good grasp of a car insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverages available from car insurance companies.
Uninsured and underinsured coverage
This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as damage to your Kia Spectra.
Since a lot of drivers only carry the minimum required liability limits (30/60/10 in Minnesota), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time the UM/UIM limits do not exceed the liability coverage limits.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance provide coverage for bills like dental work, funeral costs and chiropractic care. The coverages can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
This provides protection from damages or injuries you inflict on other people or property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 30/60/10 that means you have a limit of $30,000 per injured person, $60,000 for the entire accident, and a limit of $10,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.
Liability insurance covers things such as emergency aid, court costs, structural damage, repair costs for stationary objects and loss of income. How much liability should you purchase? That is a personal decision, but buy higher limits if possible. Minnesota state law requires minimum liability limits of 30/60/10 but you should think about purchasing higher limits.
The illustration below demonstrates why buying minimum limits may not be high enough to cover claims.
Auto collision coverage
This coverage pays for damage to your Spectra resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as colliding with a tree, rolling your car, hitting a mailbox and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from older vehicles. It’s also possible to increase the deductible on your Spectra to bring the cost down.
Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like vandalism, hitting a deer and damage from a tornado or hurricane. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Lower rates by being persistent
You just learned many tips how you can reduce Kia Spectra insurance rates online in Minneapolis. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even find the best price on insurance is with the least-expected company. These companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm or Progressive.
When shopping online for insurance, make sure you don’t skimp on critical coverages to save a buck or two. There are many occasions where consumers will sacrifice liability limits or collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. The proper strategy is to buy the best coverage you can find at the best price, but do not sacrifice coverage to save money.
Steps to finding affordable quotes for Kia Spectra insurance in Minneapolis
It takes a few minutes, but the best way to save money on Kia Spectra insurance is to compare quotes annually from insurance carriers in Minneapolis.
First, try to learn about the coverage provided by your policy and the measures you can control to prevent expensive coverage. Many policy risk factors that drive up the price such as getting speeding tickets and an imperfect credit history can be controlled by making small lifestyle or driving habit changes.
Second, compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO or Farmers Insurance, while agents who are independent can quote rates for a wide range of insurance providers.
Third, compare the new rates to your existing rates to determine if you can save on Spectra insurance in Minneapolis. If you find a lower rate quote and change companies, make sure there is no lapse in coverage.
One tip to remember is to make sure you enter the same coverage limits and deductibles on every price quote and and to get price estimates from as many companies as possible. Doing this enables a level playing field and and a good selection of different prices.
Much more information about insurance in Minnesota is located below:
- Tools for Teen Driving Safety (State Farm)
- Who Has Affordable Car Insurance Quotes for a Dodge Grand Caravan in Minneapolis? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Hybrid Vehicles in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Toyota 4Runner in Minneapolis? (FAQ)
- Who Has the Cheapest Auto Insurance for a Ford Explorer in Minneapolis? (FAQ)
- Teen Driver Statistics (Insurance Information Institute)
- Reducing Your Risks in a Car Crash Video (iihs.org)