If your goal is the lowest price, then the best way to find discount car insurance rates in Minneapolis is to annually compare prices from companies in Minnesota. Rate comparisons can be done by following these guidelines.
- First, spend some time learning about policy coverages and the measures you can control to drop your rates. Many rating criteria that cause rate increases like speeding tickets, careless driving and a substandard credit history can be improved by paying attention to minor details. This article provides additional tips to get cheaper coverage and find overlooked discounts.
- Second, request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive or State Farm, while independent agents can provide prices for many different companies.
- Third, compare the new quotes to your existing rates to see if switching to a new carrier will save money. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
The most important part of shopping around is to try to compare the same amount of coverage on every quote and to quote with all possible companies. Doing this helps ensure a fair price comparison and a complete price analysis.
We don’t have to point out that fact that insurance companies don’t want customers comparing rates. Drivers who shop around for better prices are highly likely to switch companies because they have a good chance of finding more affordable rates. A recent survey found that drivers who routinely compared quotes saved over $850 each year compared to people who never compared prices.
If finding the cheapest price for auto insurance in Minneapolis is the reason you’re reading this, then having a good understanding how to find and compare cheaper coverage can make it easier to find better rates.
When price shopping your coverage, having more price comparisons will improve the odds of getting more affordable insurance.
The following companies are our best choices to provide quotes in Minnesota. To buy the cheapest auto insurance in Minnesota, we suggest you compare several of them in order to get a fair rate comparison.
Check for these discounts on Lexus LFA insurance in Minneapolis
Insurance can cost an arm and a leg, but there are discounts available that many people don’t even know exist. A few discounts will be applied when you quote, but some need to be asked about before they will apply.
- Homeowners Savings – Simply owning a home may earn you a small savings because maintaining a house means you have a higher level of financial diligence.
- Discounts for Government Workers – Federal government employees could provide a small rate reduction with some insurance companies.
- Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
- Anti-lock Brakes – Anti-lock brake equipped vehicles can stop better under adverse conditions and earn discounts up to 10%.
- New Car Discount – Insuring a vehicle that is new is cheaper since new vehicles are generally safer.
- Mature Driver Discount – Seniors are able to get a discount up to 10%.
- Discounts for Responsible Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates compared to rates paid by drivers with frequent claims.
- Theft Prevention Discount – Cars, trucks, and SUVs with anti-theft systems are stolen with less frequency and will save you 10% or more on LFA insurance in Minneapolis.
- Student in College – Older children who are enrolled in a college that is more than 100 miles from Minneapolis and don’t have a car could get you a discount.
- Claim Free – Insureds who avoid accidents and claims get the best insurance rates as compared to frequent claim filers.
Discounts save money, but please remember that most of the big mark downs will not be given to the whole policy. Most only apply to specific coverage prices like comprehensive or collision. Just because you may think you can get free auto insurance, companies wouldn’t make money that way.
If you would like to view providers that offer multiple discounts in Minneapolis, follow this link.
How Insurance Providers Calculate Lexus LFA Insurance Prices
It’s important that you understand the rating factors that help determine auto insurance rates. If you have some idea of what determines base rates, this helps enable you to make changes that can earn you lower premium levels. Multiple criteria are used in the calculation when you get a price on insurance. A few of the factors are predictable like a motor vehicle report, but other factors are not as apparent like your vehicle usage or your financial responsibility.
Gender and auto insurance costs – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. However, don’t assume that females are better at driving than males. Both sexes are responsible for auto accidents at about the same rate, but guys have accidents that have higher claims. Men also receive more costly citations like DUI and reckless driving.
High credit rating translates to low premiums – Having a good credit score factor in determining what you pay. So if your credit rating is not that good, you could save money insuring your Lexus LFA if you improve your credit rating. Insureds with very good credit scores tend to be more responsible and file fewer claims than those with lower ratings.
Keep insurance claims to a minimum – If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Car insurance companies in Minnesota award the best rates to policyholders that do not abuse their auto insurance. Your car insurance is intended for claims that you cannot pay yourself.
What are good liability coverage limits? – The liability coverage on your policy is the protection if ever a jury decides you are liable for damages from an accident. It provides you with a defense in court which can cost a lot. It is affordable coverage compared to comp and collision, so drivers should make sure they buy enough to cover all assets.
Eliminate unneeded extra policy coverages – There are a lot of extra coverages that you can get tricked into buying if you aren’t careful. Coverage for things like personal injury protection, death and dismemberment, and term life insurance may not be needed and are just wasting money. These may sound like a good investment when you first buy your policy, but your money might be better spent on other coverage so consider taking them off your policy.
Insure car and home with the same company – Most insurers provide lower prices to clients who consolidate policies with them. It’s known as a multi-policy discount. Even if you already get this discount, you may still want to check prices from other companies to guarantee you are still saving the most.
Theft deterrents lower prices – Purchasing a vehicle with an alarm system can earn a premium discount. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms all help prevent your vehicle from being stolen.
Raise your deductibles for better costs – Physical damage coverage, also known as collision and other-than-collision, helps pay for damage to your vehicle. A few examples of covered claims are running into the backend of another car, hail damage, and damage caused by flying debris. Physical damage deductibles are the amount of money you are required to pay before a claim is paid by your company. The larger the amount you’re willing to pay, the better rate you will receive.
Buying from car insurance agents
Certain consumers would prefer to buy from a licensed agent. One of the great benefits of comparing rate quotes online is that you can find the best rates and still buy from a local agent. Putting coverage with local agents is especially important in Minneapolis.
To make it easy to find an agent, after completing this form (opens in new window), your information is instantly submitted to local insurance agents in Minneapolis who will return price quotes for your business. You won’t even need to do any legwork due to the fact that quote results will go to you instantly. You can find better rates and an insurance agent to talk to. If you have a need to get a price quote from one company in particular, just search and find their rate quote page and fill out the quote form the provide.
If you are wanting to purchase car insurance from a reputable insurance agent or broker, you need to know there are two types of agencies and how they are distinctly different. Car insurance policy providers can either be independent or exclusive.
Independent Agencies or Brokers
Agents that choose to be independent are not required to write business for one company and that is an advantage because they can write policies through many different car insurance companies and find you the best rates. If you are not satisfied with one company, your agent can just switch to a different company which requires no work on your part. When searching for an agent, you definitely need to get quotes from at a minimum one independent agency for the best price selection.
Below is a partial list of independent insurance agents in Minneapolis that can possibly get you cheap rate quotes.
Minneapolis St. Paul Agency Insurance and Risk Management
2469 University Ave W – St Paul, MN 55114 – (651) 647-9665 – View Map
Agents that choose to be exclusive can only quote rates from one company such as Farmers Insurance, State Farm, or Allstate. Exclusive agents cannot compare other company’s rates so they have no alternatives for high prices. These agents are highly trained on sales techniques and that can be a competitive advantage.
Below are Minneapolis exclusive agents who can help you get rate quotes.
American Family Insurance – Patrick Fagerlee Agency Inc
3910 Central Ave NE – Minneapolis, MN 55421 – (763) 789-6201 – View Map
Picking the best car insurance agent is decision based upon more than just the bottom line cost. Any agent in Minneapolis should be willing to answer these questions.
- Does the agency have a current Errors and Omissions policy?
- How long have they worked with personal auto insurance coverage?
- If your car is totaled, how to they determine the replacement cost?
- How much will you save each year by using a higher deductible?
- Do they specialize in personal lines coverage in Minneapolis?
- Is the agency involved in supporting local community causes?
- Can glass repairs be made at your home?
- What insurance company do they write the most business with?
Your auto insurance coverage should be tailored to you
When quoting and choosing the best auto insurance coverage, there really isn’t a perfect coverage plan. Your financial needs are unique and a cookie cutter policy won’t apply.
For example, these questions might point out whether or not you may require specific advice.
- Does coverage extend to my business vehicle?
- Am I covered when driving someone else’s vehicle?
- Are rock chip repairs covered?
- Should I carry comprehensive and collision coverage?
- When should I drop full coverage on my Lexus LFA?
- Am I missing any policy discounts?
- What policy terms are available?
- Why are teen drivers so expensive to add on to my policy?
If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Minnesota car insurance companies ranked
Choosing the highest-rated auto insurance company can be challenging considering how many different companies there are to choose from in Minneapolis. The ranking information shown below may help you choose which auto insurers you want to consider when comparing rates.
Top 10 Minneapolis Car Insurance Companies Ranked by Value
- AAA Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- 21st Century
- Titan Insurance
Top 10 Minneapolis Car Insurance Companies by A.M. Best Rank
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Mercury Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Smart consumers save more
When shopping online for car insurance, it’s very important that you do not reduce coverage to reduce premium. There are a lot of situations where drivers have reduced uninsured motorist or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to find the BEST coverage for the lowest cost but still have enough coverage for asset protection.
Lower-priced Lexus LFA insurance in Minneapolis can be found on the web and also from your neighborhood Minneapolis agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies may not provide price quotes online and many times these regional insurance providers provide coverage only through independent insurance agents.
Other learning opportunities
- A Tree Fell on Your Car: Now What? (Allstate)
- Who Has Cheap Minneapolis Auto Insurance for Homeowners? (FAQ)
- Who Has Cheap Minneapolis Car Insurance Rates for Veterans? (FAQ)
- Who Has Cheap Auto Insurance for Good Students in Minneapolis? (FAQ)
- Who Has the Cheapest Minneapolis Auto Insurance Quotes for Business Use? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Five Mistakes to Avoid (Insurance Information Institute)