It’s safe to assume that car insurance companies don’t want you to look for cheaper rates. Insureds who shop rates annually will most likely switch companies because they have a good chance of finding discount prices. A study showed that people who regularly shopped around saved as much as $72 a month compared to people who never shopped around for lower prices.
If finding the cheapest price for Tesla Model S insurance in Minneapolis is your ultimate target, then having an understanding of how to get price quotes and compare insurance can help simplify the process.
To save the most money, the best way to get cheaper auto insurance rates in Minneapolis is to make a habit of regularly comparing prices from different companies who sell insurance in Minnesota.
- Try to learn about how auto insurance works and the measures you can control to drop your rates. Many things that are responsible for high rates such as high-risk driving behaviors and a not-so-good credit rating can be eliminated by making minor changes in your lifestyle. This article gives more details to lower rates and find additional discounts.
- Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can quote rates from multiple sources.
- Compare the new quotes to your current policy and determine if cheaper Model S coverage is available in Minneapolis. If you find a better price, ensure coverage does not lapse between policies.
- Provide adequate notice to your current company of your intention to cancel your current auto insurance policy. Submit a signed application and payment to the new company. As soon as coverage is bound, put the new certificate verifying proof of insurance in an easily accessible location in your vehicle.
A good piece of advice is to compare similar deductibles and liability limits on every price quote and to quote with as many companies as possible. Doing this enables a fair price comparison and the best price selection.
Finding cheaper insurance rates can be quick and easy. Just spend a little time to compare rates from online providers.
Comparing quotes online is fast and free, and it makes it a waste of time to spend time driving to insurance agencies in your area. Comparing online rate quotes eliminates the need for an insurance agent unless you prefer the extra assistance of an agent trained in personal lines coverage. Although you can get the lowest quotes online but have your policy serviced through an agent.
The companies in the list below provide quotes in Minneapolis, MN. To buy cheap car insurance in Minneapolis, MN, we suggest you visit as many as you can to find the most competitive auto insurance rates.
Protect more than your vehicle
Despite the high cost, insuring your vehicle serves an important purpose.
First, just about all states have minimum liability requirements which means the state requires a specific level of liability insurance coverage in order to drive the car legally. 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 you took out a loan on your Model S, most lenders will stipulate that you carry insurance to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Tesla for a much higher rate and force you to pay a much higher amount than you were paying before.
Third, auto insurance preserves not only your Tesla but also your assets. Insurance will pay for medical bills for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay to defend you if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of having auto insurance are without a doubt worth the cost, particularly for liability claims. An average driver in America is overpaying more than $800 each year so compare quotes from several companies at every renewal to ensure rates are inline.
Get Cheaper Insurance Premiums by Understanding These Factors
Lots of things are part of the calculation when you get a price on insurance. Some factors are common sense such as traffic violations, but other factors are not quite as obvious such as whether you are married or your vehicle rating. When buying insurance it’s important to understand a few of the rating criteria that are used to determine your premiums. If you have some idea of what controls the rates you pay, this allows you to make good choices that may reward you with lower rates.
The list below includes most of the major factors companies use to determine your rate level.
- Prevent theft and save – Choosing to buy a car with a theft deterrent system can save you a little every year. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent auto theft.
- Safer cars save money – Safer cars cost less to insure. Highly rated vehicles reduce injuries and any reduction in injury severity translates into fewer and smaller insurance claims and lower rates for you. If your Tesla Model S is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
- Your gender affects premiums – Over time, data shows that females tend to be a little less risky than males. Now that doesn’t mean females are better drivers. Both genders cause fender benders in similar numbers, but the male of the species have accidents that have higher claims. Men also receive more major tickets like DWI (DUI) or reckless driving.
- Get married and get better premiums – Walking down the aisle may cut your premiums compared to being single. Marriage means you’re more financially stable it has been statistically shown that drivers who are married file infrequent claims.
- Don’t abuse policy claims – If you are the type of insured that files lots of claims you can pretty much guarantee increased rates or even have your policy non-renewed. Auto insurance companies in Minnesota award the lowest premiums to people who are claim-free. Insurance coverage is intended to be relied upon for larger claims.
- Always keep your insurance policy in force – Driving any period of time without insurance is a misdemeanor and your next policy will cost more because you let your coverage lapse. Not only will rates go up, getting caught without coverage might get you fines or a revoked license.
- Tickets drive up prices – Good drivers pay less for auto insurance than people who have multiple driving citations. Having a single ticket can boost insurance rates substantially. Drivers who get dangerous tickets such as DUI or willful reckless driving may be required to submit a SR-22 form with their state’s department of motor vehicles in order to prevent their license from being revoked.
Tesla Model S claim probability – Insurers analyze claim trends for every vehicle when they calculate premium prices for each model. Vehicles that have increased claim numbers or amounts will have a higher cost to insure. The next table shows the insurance loss data for Tesla Model S vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles, without regard to make or model, equals 100. Numbers under 100 mean the vehicle has better than average losses, while numbers above 100 point to more frequent losses or statistically larger losses.
Tesla Model S Insurance Claim Statistics Specific Tesla Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Tesla Model S 4dr Electric 2WD 324 116 208 39 46 104 Tesla Model S 4dr Electric 4WD 333BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Slash your insurance rates with discounts
Car insurance can cost a lot, but there are discounts available to help offset the cost. Many of these discounts will be applied automatically when you complete an application, but some discounts are required to be specially asked for in order for you to get them.
- Discounts for Multiple Vehicles – Having primary and secondary vehicles on one policy can get a discount on all vehicles.
- Early Renewal Discounts – A few companies give discounts for switching companies prior to your current Model S insurance policy expiring. It can save you around 10%.
- Mature Driver Discount – If you’re over the age of 55, you may be able to get a small decrease in premiums.
- Discounts for New Vehicles – Adding a new car to your policy can be considerably cheaper due to better safety requirements for new vehicles.
- No Accidents – Drivers who don’t have accidents are rewarded with significantly better rates on Minneapolis car insurance quote as opposed to policyholders that have many claims.
- Accident Waiver – Not necessarily a discount, but companies like State Farm and Allstate permit an accident before your rates go up if your claims history is clear for a specific time period.
- Anti-lock Brake System – Cars, trucks, and SUVs with anti-lock braking systems are much safer to drive and qualify for as much as a 10% discount.
- Air Bag Discount – Cars that have air bags or motorized seat belts may get savings of 25 to 30%.
- Driver’s Education for Students – Have your child successfully take a driver’s education course if offered at their school.
As a sidenote, most discounts do not apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. So despite the fact that it appears adding up those discounts means a free policy, companies don’t profit that way.
Insurance companies that possibly offer most of the discounts above include:
Before you buy a policy, ask every prospective company to give you their best rates. Some of the discounts discussed earlier may not be offered in Minneapolis. If you would like to view insurers that offer many of these discounts in Minnesota, click here.
Different people need different auto insurance coverages
When quoting and choosing coverage, there really is no “best” method to buy coverage. Your needs are not the same as everyone else’s.
These are some specific questions can help discover whether or not you may require specific advice.
- Do I need medical payments coverage since I have good health insurance?
- Do I need to file an SR-22 for a DUI in Minnesota?
- Does my insurance cover my expensive audio equipment?
- Why am I be forced to buy a membership to get insurance from some companies?
- Is rental equipment covered for theft or damage?
- How do I buy GAP insurance?
If you don’t know the answers to these questions but a few of them apply then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form. It’s fast, free and can help protect your family.
Compare rates but work with a local neighborhood Minneapolis car insurance agent
Some people would rather talk to a local agent and that is a smart decision Good insurance agents can point out coverage gaps and will help you if you have claims. A good thing about comparing rate quotes online is that you can find cheap auto insurance quotes and still have an agent to talk to. Buying from and supporting small agencies is important particularly in Minneapolis.
For easy comparison, once you complete this simple form, the coverage information is sent to local insurance agents that can provide free Minneapolis car insurance quotes for your coverage. It simplifies rate comparisons since you won’t have to contact any agents because prices are sent directly to your email. If you need to compare prices from a particular provider, you would need to navigate to their website and give them your coverage information.
Minneapolis auto insurance agents come in two flavors
If you need to find a reliable agent, there are two different types of agents that differ in how they can insure your vehicles. Auto insurance agencies are either independent agents or exclusive agents depending on their employer. Both types can handle auto insurance, but it is a good idea to know the subtle differences since it can affect the selection process.
Independent Agents (or Brokers)
Agents that choose to be independent are not locked into one company and that gives them the ability to insure with an assortment of companies and find you the best rates. If you want to switch companies, they can switch companies in-house and the insured can keep the same agent. If you are comparing auto insurance prices, you definitely need to compare prices from several independent agencies in order to have the best price comparison.
Featured below is a short list of independent insurance agents in Minneapolis that may be able to give you price quotes.
Abdullahi Ahmed Insurance Agency
1113 E Franklin Ave # 104 – Minneapolis, MN 55404 – (612) 432-9142 – View Map
Seguros Amezcua Insurance Agency, Inc
6418 Bass Lake Rd #4 – Minneapolis, MN 55428 – (612) 465-0400 – View Map
TCF Agency Insurance Services Inc
801 S Marquette Ave – Minneapolis, MN 55402 – (612) 661-8400 – View Map
Exclusive Insurance Agents
Agents that elect to be exclusive write business for a single company and examples are Farmers Insurance, State Farm, Allstate, and AAA. They generally cannot compare other company’s rates so always compare other rates. These agents are usually well trained on sales techniques which helps them sell insurance even at higher premiums.
Shown below is a list of exclusive insurance agencies in Minneapolis that are able to give comparison quotes.
Choosing an insurance agency requires you to look at more than just the bottom line cost. Here are some questions you might want to ask.
- Are aftermarket or OEM parts used to repair vehicles?
- Are they in the agency full-time?
- Will the agent help in case of a claim?
- Do they have a Better Business Bureau rating in Minneapolis?
- Are claims handled at the agent’s location?
If you receive positive feedback to your questions and a low price estimate, chances are good that you have found an insurance agency that will adequately provide auto insurance.
Minneapolis auto insurance companies
Buying coverage from the highest-rated auto insurance provider can be rather challenging considering how many different companies insure vehicles in Minnesota. The company ratings below could help you pick which car insurance providers you want to consider when comparing rate quotes.
Top 10 Minneapolis Car Insurance Companies Overall
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
Compare rates regularly to save
Consumers change insurance companies for many reasons like lack of trust in their agent, an unsatisfactory settlement offer, denial of a claim or high prices. Regardless of your reason, finding a new auto insurance company is pretty simple and you could end up saving a buck or two.
Throughout this article, we presented many ways to shop for Tesla Model S insurance online. The key concept to understand is the more providers you compare, the better your chances of lowering your rates. Drivers may even discover the lowest prices are with a lesser-known regional company.
Cheap Tesla Model S insurance in Minneapolis can be found from both online companies and with local Minneapolis insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some companies don’t offer online price quotes and many times these small, regional companies work with independent insurance agencies.
Helpful learning opportunities
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for a Learners Permit in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Honda Accord in Minneapolis? (FAQ)
- Who Has Affordable Car Insurance Quotes for Low Income Drivers in Minneapolis? (FAQ)
- What Insurance is Cheapest for a Toyota Corolla in Minneapolis? (FAQ)
- How Much are Auto Insurance Rates for Nurses in Minneapolis? (FAQ)
- Frontal Crash Tests (iihs.org)
- Avoiding Deer Collisions (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)