If saving money is your primary concern, then the best way to get cheaper auto insurance rates is to do a yearly price comparison from providers in Minneapolis.
Step 1: Spend a few minutes and learn about coverages and the changes you can make to prevent rate increases. Many risk factors that cause high rates like speeding tickets, careless driving and poor credit can be eliminated by improving your driving habits or financial responsibility.
Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from one company like Progressive or State Farm, while independent agents can quote rates from multiple companies.
Step 3: Compare the new rates to the premium of your current policy and determine if there is any savings. If you can save money and decide to switch, make sure there is no lapse in coverage.
One tip to remember is that you’ll want to compare the same amount of coverage on each quote and and to get rates from as many different insurance providers as possible. Doing this helps ensure an accurate price comparison and the best price selection.
Anyone knows that insurance companies don’t want you quoting rates from other companies. Drivers who shop for lower rates will, in all likelihood, buy a different policy because they have good chances of finding lower prices. A recent study showed that drivers who routinely compared rates saved about $3,400 over four years as compared to drivers who never shopped for cheaper rates.
If finding the cheapest price on insurance is the reason you’re reading this, then having an understanding of how to compare auto insurance can help simplify the process.
Most larger insurance companies give prices for coverage on their websites. The process doesn’t take a lot of time as you simply type in the coverages you want as requested by the quote form. When complete, their rating system will obtain your driving record and credit report and quotes a price determined by many factors.
Quoting online for Lincoln LS insurance in Minneapolis streamlines rate comparisons, and it’s very important to compare as many rates as possible if you want to get the lowest payment on car insurance.
To use this form to compare rates, visit the companies below or click here to submit a quote request to multiple companies at once. If you have a policy now, it’s recommended that you enter the coverages exactly as they are listed on your policy. This helps ensure you will have an apples-to-apples comparison based on identical coverages.
The car insurance companies shown below are ready to provide quotes in Minnesota. If multiple companies are listed, we suggest you visit two to three different companies in order to get a fair rate comparison.
Auto insurance is not optional in Minnesota
Despite the high cost of buying insurance for a Lincoln LS in Minneapolis, insuring your vehicle is required by state law in Minnesota and it also provides benefits you may not be aware of.
- Almost all states have mandatory insurance requirements which means state laws require specific limits of liability in order to be legal. 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 Lincoln LS, it’s guaranteed your bank will stipulate that you buy full coverage to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Lincoln at a much higher premium rate and force you to reimburse them for it.
- Auto insurance preserves both your Lincoln LS and your personal assets. It will also cover many types of medical costs for not only you but also any passengers injured in an accident. Liability coverage also pays for attorney fees and expenses if anyone sues you for causing an accident. If your Lincoln gets damaged, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your LS greatly outweigh the cost, specifically if you ever have a liability claim. The average driver in America is wasting up to $865 each year so shop around at least once a year to be sure current rates are still competitive.
How Insurers Calculate Lincoln LS Insurance Premiums
Lots of factors are taken into consideration when you quote your car insurance policy. Some are pretty understandable like an MVR report, although others are more obscure like where you live or how safe your car is.
Shown below are just a few of the factors used by your company to calculate prices.
Bundle home and auto and save – Lots of auto insurance companies afford better rates to policyholders who consolidate policies with them such as combining an auto and homeowners policy. Discounts can add up to ten or even up to twenty percent in some cases. Even though this discount sounds good, drivers will still want to check prices from other companies to ensure the best deal. You may still save even more by buying auto insurance from a different company.
Guys pay more for insurance – Statistics have proven females are less aggressive when driving. This data doesn’t prove that females are better at driving than males. Females and males are in accidents in similar percentages, but guys tend to have more serious accidents. Men also tend to receive more major tickets like reckless driving and DUI.
Save money by raising comp and collision deductibles – Physical damage protection, aka comp and collision, covers your vehicle from damage. Some coverage claims are a dented fender, collision with an animal, and having your car stolen. Your deductibles are how much you are willing to pay if you file a covered claim. The more money the insured is willing to pay, the less your auto insurance will be.
If you don’t need it don’t buy it – Insurance policies have a lot of extra coverages that you can buy but may not be useful. Things like replacement cost coverage, towing coverage, and term life insurance are examples of these. The coverages may be enticing when talking to your agent, but if you’ve never needed them in the past consider taking them off your policy.
Deter vehicle theft – Buying a car that has a built-in theft deterrent system can get you a discount on your auto insurance. Anti-theft devices like OnStar, LoJack tracking, and tamper alarms can help prevent vehicle theft.
Drive lots and pay more – The higher the mileage driven annually the more you will pay for auto insurance. A lot of insurance companies apply a rate based upon how much you drive. Autos left parked in the garage can be on a lower rate level than vehicles that are driven to work every day. Make sure your auto insurance policy reflects the correct usage. An improperly rated LS is throwing money out the window.
Premiums can change based on your address – Choosing to live in smaller towns and rural areas of the country is a positive aspect when it comes to auto insurance. People who live in big cities have more auto accidents and more time behind the wheel. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft.
Prices go up with performance – The performance of the vehicle you need to insure makes a huge difference in your rates. Low performance passenger cars normally have pretty low rates, but that’s not the only thing that factors into the final price.
Discounts for lower-cost car insurance quotes
Car insurance is easily one of your largest bills, but there may be some discounts that you may not know about. Some discounts apply automatically when you complete an application, but some need to be asked about before they will apply.
- Auto/Life Discount – Companies who offer life insurance give lower prices if you buy some life insurance in addition to your auto policy.
- Accident Forgiveness – This one isn’t a discount, but some companies like GEICO, Allstate and Liberty Mutual will turn a blind eye to one accident before hitting you with a surcharge if your claims history is clear for a specific time period.
- Theft Deterrent Discount – Cars and trucks that have factory anti-theft systems help deter theft so companies will give you a small discount.
- Online Discount – Some of the larger companies provide a small discount for signing up on the internet.
- Distant College Student Discount – Any of your kids who live away from home at college and do not have access to a covered vehicle may be insured at a cheaper rate.
A little note about advertised discounts, many deductions do not apply to the entire policy premium. The majority will only reduce individual premiums such as comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.
A few of the larger companies and their offered discounts can be found below.
- State Farm has savings for good driver, defensive driving training, Steer Clear safe driver discount, good student, and accident-free.
- Liberty Mutual offers discounts for safety features, new vehicle discount, newly married, hybrid vehicle, and good student.
- American Family has discounts for early bird, defensive driver, good student, air bags, good driver, and TimeAway discount.
- Progressive offers premium reductions for online signing, good student, continuous coverage, online quote discount, multi-policy, multi-vehicle, and homeowner.
- Farmers Insurance may offer discounts for mature driver, electronic funds transfer, teen driver, business and professional, good student, and homeowner.
- Auto-Owners Insurance includes discounts for anti-lock brakes, paid in full, mature driver, safe vehicle, and anti-theft.
- SAFECO policyholders can earn discounts including anti-lock brakes, multi-car, teen safety rewards, bundle discounts, safe driver, anti-theft, and teen safe driver.
Before purchasing a policy, check with every company to give you their best rates. Some discounts might not be available to policyholders everywhere. If you would like to see a list of providers with discount rates in Minneapolis, click here.
When to get advice from an insurance agent
Some consumers just want to sit down and talk to an agent and there is nothing wrong with that. One of the great benefits of getting online price quotes is that you can find cheap rate quotes and also buy local.
To make it easy to find an agent, after completing this form (opens in new window), your coverage information is submitted to companies in Minneapolis that give free quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact any agents because prices are sent directly to you. You can most likely find cheaper rates without a big time investment. If for some reason you want to quote rates for a specific company, just visit that company’s website and give them your coverage information.
Choosing an insurer requires you to look at more than just a low price. Ask your prospective agent these questions:
- Do they have a Better Business Bureau rating in Minneapolis?
- Are they giving you every discount you deserve?
- What are the financial ratings for the companies they represent?
- Who is covered by the car insurance policy?
- Which company do they place the most coverage with?
- Will they take your side in the event of a claim?
- Is there a Errors and Omissions policy in force?
- Do they assist clients in filing claims?
Pick the best car insurance agent in Minneapolis for you
When narrowing the list to find a local insurance agency, it helps to know the two types of insurance agents and how they differ in how they can insure your vehicles. Auto insurance policy providers can either be exclusive agents or independent agents.
Exclusive Agencies
Exclusive insurance agents work for only one company like Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents are unable to compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are usually quite knowledgeable on the products they sell which helps offset the inability to provide other markets. Consumers sometimes choose to use a exclusive agent primarily because of the brand name and the convenience of having a single billing for all their coverages.
Listed below are Minneapolis exclusive insurance agencies who may provide you with price quotes.
- State Farm: Brandon Walter
222 S 9th St #270 – Minneapolis, MN 55402 – (612) 843-8444 – View Map - Farmers Insurance – Steven Wolfson
1516 W Lake St Suite 203 – Minneapolis, MN 55408 – (612) 822-1287 – View Map - AAA Minneapolis Insurance
5400 Auto Club Way – Minneapolis, MN 55416 – (952) 927-2518 – View Map
Independent Agencies or Brokers
Agents that choose to be independent can sell policies from many different companies and that enables them to quote your coverage with any number of different companies and help determine which has the cheapest rates. To move your coverage to a new company, they simply move your policy to a different company and that require little work on your part. When comparing auto insurance prices, you definitely need to get several quotes from independent agents to have the most options to choose from. Most also have access to smaller mutual companies that many times have cheaper rates.
Below is a short list of independent agencies in Minneapolis that are able to give comparison quotes.
- TCF Agency Insurance Services Inc
801 S Marquette Ave – Minneapolis, MN 55402 – (612) 661-8400 – View Map - RJF Agencies, Inc.
7225 Northland Dr N #300 – Minneapolis, MN 55428 – (763) 746-8000 – View Map - Glover Insurance Agency
2520 NE Lowry Ave – Minneapolis, MN 55411 – (612) 284-3227 – View Map
Minnesota auto insurance companies
Choosing the highest-rated car insurance provider is hard considering how many companies there are to choose from in Minneapolis. The ranking data in the lists below may help you decide which auto insurers you want to consider buying from.
Top 10 Minneapolis Car Insurance Companies Ranked by Value
- USAA
- GEICO
- AAA Insurance
- State Farm
- Liberty Mutual
- Allstate
- Safeco Insurance
- 21st Century
- Travelers
- Titan Insurance
A conclusion for your insurance search
Consumers switch companies for many reasons like not issuing a premium refund, policy non-renewal, an unsatisfactory settlement offer and even poor customer service. Whatever your reason, switching companies can be less work than you think.
As you restructure your insurance plan, you should never buy less coverage just to save a little money. Too many times, an accident victim reduced liability coverage limits and found out when filing a claim that the savings was not a smart move. The proper strategy is to get the best coverage possible at a price you can afford, not the least amount of coverage.
Discount Lincoln LS insurance in Minneapolis can be found online in addition to local insurance agencies, and you should compare rates from both to get a complete price analysis. Some insurance providers may not have rates over the internet and most of the time these smaller providers provide coverage only through independent insurance agents.
To read more, feel free to browse the articles below:
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Who Has Cheap Car Insurance Rates for a School Permit in Minneapolis? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Hybrid Vehicles in Minneapolis? (FAQ)
- Who Has the Cheapest Auto Insurance for a Ford Explorer in Minneapolis? (FAQ)
- Who Has Affordable Auto Insurance for Low Credit Scores in Minneapolis? (FAQ)
- How Much are Auto Insurance Quotes for Drivers Over Age 70 in Minneapolis? (FAQ)
- What Insurance is Cheapest for Drivers with Good Credit in Minneapolis? (FAQ)
- State Laws for Cellphones and Texting (iihs.org)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Shopping for a Safe Car (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)